Although the overall demand for legal services in the US has been flat (at best) since 2008, there are two ways that mid-size firms have outperformed BigLaw according to this report published in late March.
First, the demand growth for midsize firms is less volatile than for BigLaw and, second, realization rates are significantly better for mid-size firms than for AmLaw 100 firms.
The report also finds that there are opportunities for mid-size firms to capitalize on the increasing willingness of in-house counsel to feed work to smaller and mid-size law firms.