- 2012 Survey of Law Firm Economics
by ALM Legal Intelligence and The National Law Journal
In 2012, we worked closely with ALM and NLJ to conduct the most comprehensive economic survey of mid-size US law firms. 198 firms participated. On average, revenue per lawyer was down about 4%, yet profits per equity partner increased a healthy 7% due mostly to cuts in the number of associates and non-lawyer staff. Other key findings:
- 70% of firms raised standard hourly rates by an average of 4% in 2012.
- 8% of firms are actively seeking merger opportunities, while 58% say they are not interested. 34% say they are open to the possibility.
- 43% of firms say litigation will be the practice area with the most revenue growth in 2012. 24% say corporate will lead the way.
Check out the complimentary Executive Summary. You can also order the complete survey in both hard copy and electronic formats.
- 2010 Survey of Law Firm Economics
How Small and Midsize Firms Weathered the Storm
by National Law Journal and ALM Legal Intelligence
After steep declines in 2008, both revenues and profits for mid-size US law firms have leveled off considerably in 2009-10, according to the just-released 2010 edition of this annual survey. With participation from 187 law firms, it's one of the most important and comprehensive economic surveys for smaller and mid-size law firms. The survey provides a deep look into key economic and financial data of mid-market firms, and breaks it down by firm size, practice area, state, population, etc. It's an invaluable tool to help firm leaders and administrators evaluate their firm's performance relative to comparable law firms. First published in 1972, the Survey of Law Firm Economics is a valuable resource for accurate, relevate and timely data on law firm economics. Click here for more information or to purchase a copy.