Law firm benchmarking

For over 50 years, the PwC law firm services group has provided premier law firms with comprehensive benchmarking information on the broad range of management issues that confront executives.

Participation in our benchmarking programs may allow your firm to:

• Gain a deeper understanding of its position in the market.
• Identify potential opportunities to improve profitability.
• Make better informed strategic decisions.

In response to client feedback, and to provide maximum value to the benchmarking information within our Surveys, we are changing the Report offerings to include targeted metrics for the firm managers responsible for interpreting and utilizing the results.

Our goal is to not only provide benchmarking data, but more importantly, to present the information in a streamlined fashion that will minimize the analysis time, reduce possible misinterpretations, and more easily identify opportunities to improve firm performance. All of our Reports will now include summary graphical presentations of select metrics to highlight the firm's historical competitive position relative to a group of its peers.

The traditional Survey offerings - the Billing Rate & Associate Salary Survey^plus (BRASS^plus) and the Law Firm Statistical Survey (LFSS) - will continue to be recognized as the questionnaires for collecting the data. The benchmarking results/content will then be organized into Reports targeted to the firm managers responsible for taking action. Data input for the Cultural Awareness & Inclusion Scorecard (CAIS) has been incorporated into the BRASS^plus questionnaire.

Benchmarking results will now be distributed into four distinct benchmarking Reports.

The Revenue Management Report Provides a wide range of metrics on the four core areas of revenue management - rates, hours, realization and leverage. Designed for Firmwide Managers, Office and Practice Group leaders and the Finance team, this Report contains information to better understand directionally where the firm has performed compared to its peers and identify potential opportunities to increase revenue. Participants should complete the Billing Rate & Associate Salary Survey plus (BRASSplus) questionnaire.

The Talent Management Report Contains metrics focused on retaining a diverse and engaged Attorney workforce - Associate compensation and benefits, turnover, promotions and productivity. This Report is designed for Firmwide Managers, Human Resource Managers and Diversity Leaders. Many of the metrics provided within this Report will be delineated by gender and race which will highlight any potential disparities in providing opportunities to all levels of Attorneys as they grow within the firm. Participants should complete the Billing Rate & Associate Salary Survey plus (BRASSplus) questionnaire.

The Partner Management Report Provides metrics on the business owners of the firm - partner compensation, capital contribution levels and retirement benefits. The Report is designed for Firm leaders and the Finance team who are involved in setting partner compensation and capital contribution levels. Participants should complete the Billing Rate & Associate Salary Survey plus (BRASSplus) questionnaire.

The Finance & Operations Report Includes benchmarking on many key performance metrics that drive firm profitability such as expense management, administrative staffing levels and compensation, and cash management. Additional metrics on current "hot topics" are also included. Participants should complete the Law Firm Statistical Survey (LFSS) questionnaire.