City law firms see partner fees falling for second year as regionals close gap

While the majority of law firms anticipate a rise in revenues this financial year, City partners are witnessing a gradual decline in their fees as regional law firms begin to close the gap, new data reveals.

Professional service firm Crowe's latest report indicates that despite inflation hitting 11 per cent in 2024, nearly 40 per cent of firms have seen their revenues grow beyond this rate, as reported by City AM.

The study, which included 56 law firms each with a turnover exceeding £1m last year, found that City partner fees have fallen for the second consecutive year to £1.5m, a one per cent decrease from the previou