March 9, 2007
Law Firms with Non-Lawyer Management Achieve Higher Per-Partner Incomes
While we usually think of leverage in terms of the associate-to-partner ratio, partners can leverage their effectiveness through non-lawyer talent as well. Professional managers trained in various disciplines not only bring expertise and experience to bear for the benefit of the firm, but they also free the lawyers to practice law.
There is a clear correlation between high partner income and the existence of non-lawyer management talent in the firm. That was one of the findings of the Law Firm Economic Survey conducted by Juris, Inc. Firms in the first and second quartiles of per-partner income had a significantly greater incidence of senior level administrative and financial managers. They were also more likely to have human resources and marketing managers.
While it is evident that bigger firms had a greater likelihood of employing non-lawyer managers, perhaps investing in those resources helped them achieve that larger size. The Juris study and other studies do indeed confirm that there is a positive material correlation between success and non-lawyer firm management. A Brand Research Company study indicated that the number one factor that separated success from failure among law firms was the presence of non-lawyer C-level executives like a COO, CMO, and CIO empowered with decision-making authority in their areas.
Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris® products and services for increasing law firm performance and partner income, go to www.Juris.com.
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