Down times in 2009

March 8, 2010
Back to TopCommentsE-mailPrintBookmark and Share
Was 2009 really the worst year for the legal market in the past 50 years? Apparently so, according to a report released earlier this month analyzing the legal market last year and trends expected for this year.

Hildebrandt Baker Robbins consulting firm and Citi Private Bank claim last year was really bad – so bad that most attorneys practicing now are too young to remember a worse time.

Demand for legal services declined at a faster pace in 2009 than in 2007 and 2008, outside counsel spending dropped, billing and collection realization rates fell, and many in the legal community lost their jobs. More than 5,000 attorneys lost their jobs last year with the top 250 law firms in the country; thousands more attorneys, paralegals, and other legal professionals lost jobs. I’d say last year was pretty bad.

Looking ahead to 2010, the report may see a glimmer of hope for recovery, but nothing to get excited about. Although fewer legal workers have lost their jobs recently, according to Bureau of Labor Statistics, there will still be cost-cutting measures, which could include jobs. In trouble could be partners, whose numbers grew during the downturn. Chances are profits per equity partner will be flat or up slightly, but it’s dependent on location, practice, clients, etc.

The report also emphasizes the impact rate increases during 2001 through 2007 had on the growth of law firms and the legal market. Firms often increased rates 6 to 8 percent each year, but now clients are pushing back. This push back is likely to stick around for a while. The report encourages firms to implement new models for pricing legal services, as well as recruiting and retaining attorneys, and partnering with other service providers.

It’s a “buyers market” right now. Have you seen any changes in your firm to respond to any of the issues addressed in the report?

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
  1. This is ridiculous. Most JDs not practicing law don't know squat to justify calling themselves a lawyer. Maybe they should try visiting the inside of a courtroom before they go around calling themselves lawyers. This kind of promotional BS just increases the volume of people with JDs that are underqualified thereby dragging all the rest of us down likewise.

  2. I think it is safe to say that those Hoosier's with the most confidence in the Indiana judicial system are those Hoosier's who have never had the displeasure of dealing with the Hoosier court system.

  3. I have an open CHINS case I failed a urine screen I have since got clean completed IOP classes now in after care passed home inspection my x sister in law has my children I still don't even have unsupervised when I have been clean for over 4 months my x sister wants to keep the lids for good n has my case working with her I just discovered n have proof that at one of my hearing dcs case worker stated in court to the judge that a screen was dirty which caused me not to have unsupervised this was at the beginning two weeks after my initial screen I thought the weed could have still been in my system was upset because they were suppose to check levels n see if it was going down since this was only a few weeks after initial instead they said dirty I recently requested all of my screens from redwood because I take prescriptions that will show up n I was having my doctor look at levels to verify that matched what I was prescripted because dcs case worker accused me of abuseing when I got my screens I found out that screen I took that dcs case worker stated in court to judge that caused me to not get granted unsupervised was actually negative what can I do about this this is a serious issue saying a parent failed a screen in court to judge when they didn't please advise

  4. I have a degree at law, recent MS in regulatory studies. Licensed in KS, admitted b4 S& 7th circuit, but not to Indiana bar due to political correctness. Blacklisted, nearly unemployable due to hostile state action. Big Idea: Headwinds can overcome, esp for those not within the contours of the bell curve, the Lego Movie happiness set forth above. That said, even without the blacklisting for holding ideas unacceptable to the Glorious State, I think the idea presented above that a law degree open many vistas other than being a galley slave to elitist lawyers is pretty much laughable. (Did the law professors of Indiana pay for this to be published?)

  5. Joe, you might want to do some reading on the fate of Hoosier whistleblowers before you get your expectations raised up.