Home

NLJ Survey Highlights Tough Economic Climate
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The National Law Journal Survey of Law Firm Economics showed staffing ratios at small and mid-sized U.S. law firms in 2009 reached their lowest levels since the 1980’s.

The downward trend in staffing is largely the result of efforts by law firms to lower costs. The survey, based in 2009 data, found the average ratio of associates to partners had decreased by 8.2 percent, the average ratio of paralegals to all lawyers dropped 15.4 percent and the average ratio of support staff to all lawyers decreased by 9.3 percent.

The survey was conducted by ALM Legal Intelligence and also reports on annual financial performance, compensation, billing rates and hours. David Brown, editor in chief of The National Law Journal, said this is the first time in the 38 years of the survey it has shown year-over-year declines in revenue per lawyer, expenses per lawyer and compensation for senior partners.

  
What
Where


“This year’s Survey of Law Firm Economics shows just how deeply the recession has affected smaller and midsized law firms around the country,” Brown said.

Among the survey’s other findings:

n  Revenue per lawyer decreased 0.2 percent from $413,086 to $412,220

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




n  Expense per lawyer decreased 4.6 percent from $167,256 to $159,521

n  Average billing rates for senior partners increased 3.2 percent from $346 to $357



n  Average 5th year associate billing rate increased 0.5 percent from $218 to $219

n  Average billable hours for senior partners decreased 1.7 percent from 1,656 to 1,628.

n  Average billable hours for 5th year associates increased 0.6 percent from 1,801 to 1,811.

n  Median total compensation for senior partners decreased 1.7 percent from $328,260 to $322,813.

n  For the third year in a row, starting salaries for new graduates remained unchanged at $85,000

The National Law Journal’s Survey of Law Firm Economics is one of the most complete set of economic statistics and financial data available about the legal profession. This year’s survey contains information from 10,913 lawyers including 3,712 associates, 6,236 partners/shareholders (equity and non-equity), 608 active counsels, and 357 staff lawyers working in 187 U.S. law firms.

Summary:

The National Law Journal Survey of Law Firm Economics showed that the staffing ratios at small and mid-sized companies have reached their lowest levels since 1980s in 2009. This downward trend is largely the result of efforts made by law firms to lower costs. David Brown, editor in chief of The National Law Journal, said this is the first time in the 38 years of the survey it has shown year-over-year declines in revenue per lawyer, expenses per lawyer and compensation for senior partners.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate, Mergers and Acquisitions and Securities Associate Attorney

USA-NY-New York City

New York City office of our client seeks corporate, mergers and acquisitions and securities associat...

Apply Now

Business Litigation Attorney

USA-CA-Santa Monica

Santa Monica office of our client seeks business litigation attorney with 1-3 years of experience. T...

Apply Now

Intellectual Property Litigation / Enforcement Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks intellectual property litigation / enforcement associate at...

Apply Now

Health Industry Advisory Associate Attorney

USA-CA-Los Angeles

Los Angeles office of our client seeks health industry advisory associate attorney with 3-5 years of...

Apply Now

RELEVANT JOBS

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

Attorney

USA-TX-Dallas

Associate Attorney – 7 to 10 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Associate Attorney

USA-TX-Dallas

Associate Attorney – 3 to 5 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Litigation Attorney

USA-TX-Dallas

Litigation Attorney   Dallas, TX One of Texas\' largest Personal Injury Law Firms se...

Apply now

SEARCH IN ARCHIVE

To Top