The Survey of Law Firm Economics, a joint project of The National Law Journal and ALM Legal Intelligence, our parent company's research unit, is designed as a tool for law firm finance teams to help them benchmark their firms' performance. The survey's 300-plus pages present data nationally and by firm size, geographic location, practice area specialty, population size and other factors. This year's survey contains information about nearly 10,000 attorneys from 198 U.S. law firms, many of them smaller and midsize players for whom such detailed financial benchmarking information is difficult to obtain. In this special report, the NLJ offers an overview of key national trends and results from the survey. For a far deeper look, visit almlegalintelligence.com. And look to NLJ.com in the weeks ahead for a link to a webinar featuring more survey information.
Revenue recedes, but partner pay rises Law firms, particularly midsize and smaller players, continued to face a challenging revenue picture during the last year, our latest survey of firm finances shows. But they appear to have done a better job of managing expenses to keep profitability and partner compensation high.