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Wells Fargo Survey of Law Firms Shows Net Income Up by 6 Percent in 2012

A survey by the Wells Fargo Private Bank Legal Specialty Group shows that law firms had an impressive year in terms of revenue in 2012 despite all the talk of layoffs and delayed bonuses.

Wells Fargo, one of the biggest lenders to law firms, surveyed over 200 law firms across the United States. The firms ranged from BigLaw firms, midsized firms to boutique firms. The preliminary data from the survey shows that gross revenues increased by 5 percent and net income by 6 percent in American law firms. But Florida, southern California and the Southeast were regions where law firms saw revenue growth between 8 to 11 percent.

The firms who responded to the survey also said that they were expecting a four percent revenue increase for 2013. The final survey results will be available by late March 2013.

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University of Michigan Ann Arbor School of Law

University of Michigan Ann Arbor School of Law

The University of Michigan Ann Arbor School of Law or the Michigan School of Law as it is popularly known is one of the oldest law schools of the U.S. and it consistently ranks among the top 10 law schools of the U.S. in rankings published by different sources and organizations. Michigan Law School is considered to have one of the best campuses and collegiate environment among U.S. law schools.

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