iCrowdNewswire Oct 29, 20209:00 AM ET
Law Firm Revenue Enabler Compensation 2020 Report and Data Slicer Provide Insight for the Legal Industry & Highlights Continued Compensation Disparity Between Genders in C-Level Roles
New York, NY – October 29, 2020 – ALM Intelligence, in collaboration with Calibrate Legal, has 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.
This year’s report and tool draw from a survey of 408 marketing and business development professionals from across North America conducted by ALM Intelligence and Calibrate Legal, Inc. from late March to mid-June 2020.
“The Law Firm Revenue Enabler Compensation Report is a valuable benchmarking tool and dataset. The report and analysis enable marketing and business development leadership to effectively negotiate compensation for themselves as well as their team members,” said Michelle Matroni, Research Manager – Compensation Research Lead, ALM Intelligence. “For law firm leaders, it provides essential intelligence on the talent expense for key revenue generation and enablement 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
“2020 brought unique headwinds to law firm business services departments and the Revenue Enablers™ who run them. Within this environment, we persisted in collecting and analyzing this data – knowing it would be more important than ever,” said Kathryn Whitaker, Director of Recruitment & Strategy Consulting, Calibrate Legal Inc. “Marketing and business development professionals are key components in law firms working not only to recover but to accelerate growth and thrive, and we are pleased to provide this benchmarking tool for firm leaders.”
For more information or to obtain the full version of the report visit: 2020 Law Firm Revenue Enabler Compensation Report.
Legal Compass subscribers can download both the full report PDF and Excel-based Data Slicer by logging in to Legal Compass.
About Calibrate Legal
Calibrate Legal is a management consulting and executive search firm working with law firms to accelerate their growth. We are committed to helping law firms position themselves at the forefront of the next era of the legal industry by placing sophisticated talent, engaging firm leadership, and building cultures driven by meaningful data.
About ALM Intelligence
ALM Intelligence provides proprietary data, analysis, tools, and knowledge that empower our clients to succeed. The product suite and vast data repository arm professionals with the critical business information required to make the most impactful and informed decisions possible. The exhaustive data repository and product functionality enable professionals to combat competitive challenges head-on with the confidence to remain ahead of the field. The depth of ALM Intelligence’s expertise across the benefits, insurance, consulting, and legal industries provide a broad spectrum of actionable intelligence to facilitate & execute strategy. Visit alm.com/intelligence for more information.
ALM, an information and intelligence company, provides customers with critical news, data, analysis, marketing solutions and events to successfully manage the business of business. ALM serves a community of over 6 million business professionals seeking to discover, connect, and compete in highly complex industries. Please visit www.alm.com for more information, and visit www.alm.com/events/ to learn about our upcoming events. Please follow us on Twitter at @ALMMedia.
Keywords: Law Firm, Legal, Law Firm Marketing Compensation, Law Firm Business Development Compensation, Diversity, Compensation, Legal Marketing, Marketing Compensation, Business Development Compensation