BigLaw 2016: A Look Ahead

By Jeffrey A. Lowe ( January 12, 2016, 11:32 PM EST) -- Sometimes you look back and see that the prognosticators got it all wrong. Other times, you look back and see that they were pretty much spot on. As we reflect on the predictions for BigLaw over the last several years, it's clear that many anticipated themes and trends discussed in the industry have, in fact, come to pass: The rich have gotten richer, the poor poorer, and the "new" normal has many lawyers wistful for BigLaw's glory days (the 1990s through the mid-2000s). It is equally clear that each firm's trajectory for success (or failure) in the aftermath of the Great Recession was likely established in the immediate aftermath of the meltdown, if not sooner. Farsighted law firm leaders recognized that significant change was ahead, while others watched from the sidelines, failing to grasp that the rules for success had fundamentally, and irrevocably, changed. Below we discuss the key issues facing BigLaw in 2016:...

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