The BRASSplus provides participants with hard-to-find benchmarking information on a wide-range of metrics.
In response to client feedback and to maximize the information provided, the BRASSplus benchmarking results are now organized into Reports targeted to the firm managers responsible for taking action. All of the new Report offerings will include summary charts highlighting select metrics prior to and after the downturn in the economy, each designed to visually present the firm's historical position relative to its peers.
The BRASSplus questionnaire is released on a biannual basis; the initial and the mid-year release. Participation is now underway for the mid-year release of the 2013 BRASSplus questionnaire.
Timing: Questionnaire submissions for participation in the mid-year release of the BRASSplus are due on September 20, 2013.
Results are targeted to be distributed in electronic format on October 4, 2013 – two weeks earlier than in previous years.
Fees: The base fee for participation in this release of the 2013 BRASSplus is $850 for those firms who participated in the 2013 initial release of the BRASSplus, and $1,850 for all other participants. The base fee includes three comparison groups in any of the three new Reporting styles for your individual offices or practice groups. Each participant will also receive one Management Summary Report for every 3 to 5 comparison groups ordered for an office or practice group. Additional comparison groups will be billed separately and discounts are provided for firms that order more than 10 additional comparison groups.
Why you should participate
Access to Information from the Nation’s Largest & Most Profitable Law Firms: Last year, our participants included nearly 75% of the largest, most profitable law firms.
Three Distinct Billing Rate Benchmarks: The Revenue Management Report provides information on three distinct billing rates – standard rate, worked (agreed-upon) rate and effective (billed) rate. This feature allows participants to benchmark the billing rates that many firms realize due to client pressures.
Three Distinct Report Offerings: Each new Report offering includes only those targeted metrics for the firm managers responsible for interpreting and utilizing the results.
Limited data submission option: Participants can choose to submit only the first six months of data to the Survey (1/1/13 – 6/30/13). This data submission option reduces the time investment to submit your data and provides an assessment of rate discounting and utilization resulting from continued client pressures in 2013.
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' Reports which combine the location of the attorneys with the area of law practiced.
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 1,000 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.
Inclusion of Diversity Metrics: The new 'Talent Management Report' allows participants to obtain metrics delineated by race and gender to better understand the diverse population of the Attorney workforce.
A Win-Win Time Investment to Cost Proposition: The time necessary for participation is minimized with our Data Extraction Tool, which for many participants, is as easy as a download of information from their financial systems.
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.