Ed. note: Welcome to our daily feature, Quote of the Day.
If the collection lag persists or deepens, then I think we will see firms getting anxious.
A delay in collections that became significant enough to result in lower 2025 performance relative to budget would mean that most partners would receive less compensation in 2025 that had been originally projected or anticipated.
— Kristin Stark, a law firm management consultant at Fairfax Associates, in comments given to the American Lawyer, concerning law firms’ growing anxiety over a lag in collections in 2025. She went on to add that law firms aren’t “hitting the panic button” just yet.
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.