Disruptive business practices are reportedly shaking up the lawyer’s profession; recent figures show pay rates are dropping, staff are switching all over the place and overall revenues for some top firms have dropped.

Reports by the Australian Financial Review last year showed 8 of the ten biggest firms in the country had seen a decline in revenue from the previous year. According to consultant John Chisholm they have dealt with the downturn by cutting some staff and freezing pay increases for others. Drastic moves including outsourcing and commoditisation of services have been undertaken as well.

Tough times abound for some of the biggest wigs on the court circuit, according the AFR. Herbert Smith Freehills, Clayton Utz, Allens, Minter Ellison, King & Wood Mallesons, Ashurst, Corr Chambers Westgarth and Norton Rose Fulbright have reported a decline in revenue in 2012-13, the financial review reports. Pay for some of the wealthiest partners was cut between $100,000 and $300,000. Slater & Gordon managed an increase and Gadens stayed neutrally buoyant.

“I don’t know about 10 years, but I’m not even sure we’ll see law firms in the same way as we do now,” Chisholm says.

“You’ll have owners; I’m not sure you’ll have partners,” he says. “Law firms will become more corporate and you will have shareholders of which employees – non-lawyers – will be a part, much more akin to the (typical) business structures.”