Economics Of Law Firm

Economics Of a Law Firm

Being a successful lawyer and running a successful law practice are two different things.  The prior speaks to your talent, training and experience, while the latter requires a different set of skills that you are not going to acquire in law school.  Our latest guide shares insights, tips and offers sound advice about what you need to know in order to master the business of running your successful law practice.

Salaries & Benefits Constitute the Largest Expense in Your Firm’s Operating Budget

According to The National Association for Law Placement (NALP) The overall median first-year base salary as of January 1, 2023 was $200,000, up $35,000 (+21.2%) from 2021.

Salaries and Benefits
Calculating ROI

It’s Important to Accurately Track and Manage Payroll Expenses In Order to Ensure That the Law Firm Remains Profitable

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Economics Of a Law Firm