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Is Big Law Ending Its Roller Coaster Ride of Volatility?
It's still early in 2024, but law firms may finally be disembarking from a nearly four-year "roller coaster" of volatility, and returning to something that more closely resembles the pre-pandemic era.
A return to profit growth and a more normal baseline for other drivers of profitability in 2023, coupled with fresh optimism for a transactional rebound in 2024, have firm leaders and industry observers in recent weeks gesturing toward an idea that's often eluded them since at least the string of COVID shutdowns around this time in 2020: "normalcy."
"I don't anticipate anything more surprising than in past years, we'll put it that way," Bill Stoeri, managing partner of Dorsey & Whitney, said in a recent interview when asked about what he expects in 2024.
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