Attorneys & Law Firms – Industry Analysis, Statistics, Trends, and Forecasts
See the following sections listed below to view available resources by category:
For guides to other industries, see our index of over 400 industries.
Industry Analysis, Statistics, Trends, and Forecasts
- Market size and major product and service segments
- Key industry statistics, trends, and financial ratios
- Operating conditions and current performance
- Competitive landscape and environment
- Major company profiles and market shares
- Five-year outlook and growth forecasts
ALM Media Properties, LLC
The American Lawyer
https://www.americanlawyer.com/
Monthly professional journal features news and analysis for legal executives and professionals, with special features including the "Am Law 100" report (May issue) which ranks the top 100 law firms by revenue, the "Am Law 200" report (June issue) which ranks the top 200 firms by revenue, and the "A-List" report (July issue) which ranks the top 20 firms based on data from four other ALM surveys.
American Bar Association
Publications
https://www.americanbar.org/
Publications section provides an extensive selection of books, periodicals, and other publications covering a wide range of topics, with topics covered in the practice management and professional interests sections including practice management and administration, billing and finance, marketing, technology, multijurisdictional practice, professional liability, legal education, and career guidance.
IRS Audit Technique Guides
Attorneys
http://www.irs.gov/
IRS audit guide includes an overview of the legal services industry and its business practices, with topics covered in the guide including accounting records, bank accounts (e.g., operating account, general trust account, segregated trust account), client-related expenses, attorney-client privilege, gross income and payment arrangements, advanced client costs, and promotional expenses.
BizMiner Market Analysis Reports
General and Specialty Law Practices
https://www.bizminer.com Search for "541110" to see available reports
Market analysis reports provide industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.
Financial Statements and Financial Ratios
BizMiner Industry Financial Ratios
General and Specialty Law Practices
https://www.bizminer.com Search for "541110" to see available reports
- Income and expenses in dollars and percentages
- Balance sheets in dollars and percentages
- Profitability and return on investment ratios
- Liquidity and working capital ratios
- Asset turnover and efficiency ratios
- Capital structure and debt service ratios
IBISWorld Research Reports
Industry Financial Ratios
(see links for individual reports)
Key statistics section of these reports provides detailed income statements and balance sheets on a common-size basis and an array of industry financial ratios, with the financial ratio data presented on an annual basis for the four most recent years for which data is available and on a historical average basis over three-year, five-year, and ten-year time periods. Sample report can be viewed free online.
ALM Legal Intelligence
Publications available from this organization include:
Survey of Law Firm Economics
https://www.lawcatalog.com/
Annual survey allows users to compare their firm's performance with other similar firms based on firm size,
practice area, market area population, and geographic region (e.g., national, census region, and metro area),
with data analyzed in the survey including income and expenses, billable hours, unbilled time, billing rates,
realization, fees receivable, partner and staff compensation, and personnel ratios.
Small Law Firm Economics Survey
https://www.lawcatalog.com/
Annual survey allows users to measure their firm's performance against other firms with 20 or fewer attorneys
based on firm practice area, market area population, and geographic region (e.g., national, census region),
with data analyzed in the survey including income and expenses, hourly billing rates, billable hours worked,
unbilled time, receivables, partner and staff compensation, and staffing ratios.
Compensation and Salary Surveys
National Association for Law Placement
Associate Salary Survey
https://www.nalp.org/
Comprehensive annual survey provides compensation data for associates by firm size, geographic region, and metro area population, with detailed salary analyses available for 29 major metropolitan markets. Other compensation surveys available from this source include the biennial "Law School Career Services Survey" and the biennial "Public Sector & Public Interest Attorney Salary Survey".
ALM Legal Intelligence
Publications available from this organization include:
Survey of Law Firm Economics
https://www.lawcatalog.com/
Annual survey provides information on billing rates, billable hours, realization, and other factors which
affect law firm compensation, with job positions analyzed in the survey including equity partners, non-equity
partners, associates, and of counsel personnel, and compensation data included in the survey broken out
by region, firm size, practice area, years admitted to the bar, and years of experience.
ALM/IPMA Compensation Survey for Paralegals and Managers
https://www.lawcatalog.com/
Annual compensation survey provides salary, bonus, and benefits information for paralegals, legal assistants,
and case managers, with compensation information reported by practice area, years in profession, size of
firm or department, company revenue, type of industry, and geographic region (e.g., national,
census region, and metropolitan area). Detailed table of contents is available online.
BV Guides and Databases
Valuing Professional Practices and Licenses: A Guide for the Matrimonial Practitioner
Part B: Valuing Law Practices
Ronald L. Brown (Editor), Wolters Kluwer, supplemented annually
https://law-store.wolterskluwer.com/
Comprehensive valuation guide contains over 45 chapters focused on valuing professional practices, degrees, and licenses for divorce purposes, with topics addressed in the guide specific to attorneys including the difficulties of representing attorneys in divorces, legal issues in valuing a law practice, and various factors included in the sale of a legal practice relevant to valuation for divorce litigation.
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