Developed in 2000, the BRASSplus provides participants with comprehensive benchmarking information on billing rates by geography, practice group, and a combination of both.
The BRASSplus is released on a biannual basis: the Initial and the Mid-Year Release. Participation is now underway for the Initial Release of the 2017 BRASSplus.
The results are delineated into three distinct benchmarking Reports, targeted to the Firm managers responsible for taking action. Each Report includes summary charts designed to visually present the firm's current and historical position relative to its peers. A description of the metrics included within each of the Report offerings is described here.
Available again this year to participants are the Talent360 and Revenue360 Performance Analytics Dashboards. These desktop applications allow multiple users at the Firm to interactively filter between both historical and current year benchmarks across multiple comparison groups, multiple metrics and multiple attorney groups.
Timing: Submissions for participation in the Initial Release of the BRASSplus are due on April 14, 2017. Results will be distributed on May 26, 2017.
Fees: The cost for receiving Reports from the 2017 Initial Release BRASS plus includes a base participation fee plus incremental fees for additional Reports or comparison groups ordered.
For those firms with greater than 100 attorneys, the base participation fee is $2,195 which includes three comparison groups in any Reporting style for your individual offices or practice groups. A firm does not need to be a member of a comparison group to order it and see their values presented and ranked against the group.
Participants with less than 100 attorneys will receive a base participation fee of $995.
The fees for the Reporting Dashboards has been reduced to only $450 each. If both Dashboards are ordered, the pricing is $800 for the two.
Additional comparison groups will be billed separately and discounts are provided for firms that order more than 10 additional comparison groups.
Key Benefits to Participation:
1. Strong Participation Base of 250 Law Firms – And, last year our participants included nearly 70% of the largest, most profitable law firms.
2.Receive Three Distinct Billing Rate Benchmarks – The Revenue Management Report provides information on three distinct billing rates – standard rate, worked (agreed-upon) rate and billed rate. This allows participants to benchmark the rates that many firms realize due to client pressures.
3. Ability to Create 'Peer Firm' Comparison Groups to Fit Your Firm's Needs – Participants can choose to benchmark their individual offices and practice groups to over 1,500 standard geographic comparison groups and 500 standard national practice area comparison groups.
Additionally, many participants opt to create custom comparison groups from a list of their peers/competitors to fit their individual firm needs.
4. Availability of Multiple Products and Report Styles – All of our Report offerings are specifically targeted to the Firm managers responsible for taking action.
5. Availability of Benchmarking Key Revenue Metrics by Practice Group – Many law firms acknowledge the importance of managing revenue by practice group, in addition to geographic location.
Not only can participants select benchmarking Reports by the size of their national practice, but also through ordering 'Practice Area by Location' comparison groups, which combine the location of the attorneys with the area of law practiced.
6. Inclusion of Diversity Metrics – Metrics focused on the demographics of your attorneys, many delineated by gender and race, are available as well as a section devoted to information on select Firmwide Diversity & Inclusion initiatives.
7. A Win-Win Time Investment to Cost Proposition –We strongly believe that the investment to participate is significantly more beneficial to the firm, compared to the alternative of compiling and analyzing information obtained from other labor-intensive sources.