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2020 brought unique headwinds to law firm business development and marketing departments and the Revenue Enablers™️ who run them. Now it is more important than ever to have reliable information as law firm leaders make decisions about 2021 budgets and career and team progression.
ALM Intelligence, in collaboration with Calibrate Legal, just released The Law Firm Revenue Enabler Compensation Report. This report provides analysis and intelligence on compensation trends in law firm marketing and business development departments. The Excel-based Data Slicer enables users to benchmark and view compensation metrics by firm size, gender, and a wide range of marketing and business development roles.
Highlights from the report include:
Diversity: While only 28% of marketing and business development chief/first-chair director roles are held by males, they earn an average of nearly $75,000 more than their female counterparts
Compensation: The average salary for marketing and business development chiefs/first-chair directors is $254,000, which is nearly a quarter more than this group’s average salary in 2018
Career Path Options: 77% of the marketing and business development professionals interviewed claim their firm has not provided clear career path options
Job Satisfaction: While over three-quarters of marketing and business development professionals interviewed report they are content within their current role, they are concerned by the lack of advancement opportunities and the lack of sufficient support
This is available only through Legal Compass. Contact our Sales team at 888-770-5647 or by email [email protected] for information.
ALM Legal Intelligence has released The Law Firm Revenue Enabler Compensation Report and Benchmarking Tool. The report provides intelligence on trends in law firm marketing and business development departments while the tool allows firms to benchmark compensation for a wide range of job titles, functions, and geographies for marketing and business development roles.
Some key findings of the report indicate that most “1st Chair” marketing and business development leaders report directly to their firm’s managing partner, that career progression is not clearly defined within most firms, and that total compensation varies widely between firms. Notably, the study found that the average C-level marketing and business development roles now earn $400,000 in total compensation. The study also found that marketing and business development departments are hiring most quickly in middle management and business development roles.
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