2024 BRASS Initial Release

• Strong Participation Base of 250 Law Firms – Last year our participants included nearly 75% of the largest, most profitable law firms.
• Receive Three Distinct Billing Rate Benchmarks – The Revenue Management Report (RMR) provides information on three distinct billing rates – standard rate, worked (agreed-upon) rate and billed rate. This allows participants to benchmark the rates that many firms realize due to client pressures.
• Ability to Create 'Peer Firm' Comparison Groups to Fit Your Firm's Needs – Participants can choose to benchmark their individual offices and practice groups to over 2,000 standard geographic comparison groups and 500 standard national practice area comparison groups.

Additionally, many participants opt to create comparison groups from a list of their peers/competitors to fit their individual firm needs.

• Complimentary Review of your Firm’s results which will enable your team to identify opportunity for improvements
• Availability of Multiple Products and Report Styles – All of our Report offerings are specifically targeted to the Firm managers responsible for taking action.

Not only can participants select benchmarking Reports by the size of their national practice, but also through ordering 'Practice Area by Location' comparison groups, which combine the location of the attorneys with the area of law practiced.

• Obtainability of Key Revenue Metrics by Practice Group – Many law firms acknowledge the importance of managing revenue by practice group, in addition to geographic location.
• Inclusion of Diversity Metrics – The Talent Management Report (TMR) not only includes metrics on the demographics of your attorneys, but more importantly, participants have the ability to measure utilization levels of attorneys delineated by sex and race. The data allows firms to identify areas of strength/weakness in their associate pipeline ensuring that all attorneys have equal opportunity to work on premier work assignments to progress to partnership.
• A Win-Win Time Investment to Cost Proposition –The time necessary for participation is minimized with our Data Extraction Tool which, for many participants, is as easy as a download of information from their financial systems. We strongly believe that the investment to participate is significantly more beneficial to the Firm, compared to the alternative of compiling and analyzing information obtained from other labor-intensive sources.

Data security and participant anonymity continue to be our top priority. To demonstrate how seriously we take these matters, please download a copy of our ‘Data disclaimer & confidentiality’ statement to review. 

• Download the data disclaimer & confidentiality statement

The following metrics are included within each RMR: 

• Standard Rates
• Worked (agreed-upon) Rates
• Billed Rates
• Discounting Levels
• Utilization
• Realization
• Leverage
• Alternative Fee Arrangements (initial release only)
• Annual Billable Hour Targets (initial release only)
• Information on the methodology behind how Law Firms account for currency fluctuations
• Estimated Impact to Profitability by Achieving Performance Improvements

The metrics are presented in both a graphical and detailed format. Many of the graphs will include multiple years of historical information to better understand directionally where the Firm has performed relative to its peers.

A ‘Snapshot of Findings’ Report will be included with each Revenue Management Report ordered. This high-level graphical Report is designed to showcase the most referenced metrics.

This Report is designed for Firmwide Managers, Office and Practice Group Leaders and the Finance Team. 

• Download a sample of this Reporting option

This reporting Dashboard allows multiple users at the Firm to interactively filter between both historical and current year benchmarks across multiple comparison groups, multiple metrics and multiple attorney groups. All of the visualizations that users create within the Dashboard can be saved to share with key Firm leaders. 

This Dashboard offering is a companion product with comparison groups ordered in the Revenue Management Report style. Again this year, the Dashboard file is included with the base participation fee.

Please contact a Survey Staff member if you would like to preview this product. 

The following metrics, focused on retaining an engaged and diverse Attorney workforce, will be presented within the TMR:  

• Associate Compensation (Includes metrics showcasing the percentage receiving a bonus and the various bonus levels awarded designated by law class years)
• Information on the components of Associate Bonuses as it relates to leave of absences
• Information on Digital Upskilling
• Healthcare Plan Offering information
• Associate Bonuses by Utilization Levels and Seniority
• Staff Attorney and eDiscovery Attorney compensation and bonus information
• Non-Attorney compensation and bonus information
• Associate Retention by Law School Class (initial release only)
• Attorney Metrics by Sex & Race
• Promotions and Terminations
• Utilization
• Information on the Diversity & Inclusion Leadership Team and initiatives/programs (initial release only)
• Firmwide Diversity initiatives focused on Recruiting and Retaining Women and Minority Attorneys as well as initiatives directed towards LGBT Individuals (initial release only)

The metrics will be presented in both a graphical and detailed format.

All BRASS participants will receive a complimentary TMR of their choice.

A ‘Snapshot of Findings’ Report will be included with each TMR ordered. This high-level graphical Report is designed to showcase the most referenced metrics.

The Report is designed for Firmwide Managers, Human Resource Managers and Diversity Leaders.

• Download a sample of this Reporting option

This Report contains key metrics focused on the business owners of the firm. Information for both Equity and Non-Equity Partners are provided in the following areas:  

• Partner Demographics
• Partner Compensation
• Ratio Between the Highest and Lowest Compensated Partner
• Partner Permanent Capital Balance Levels
• Ratio Between Compensation and Capital Balance Levels
• Partner Turnover Information (initial release only)
• Partner Admission Policies (initial release only)
• Partner Retirement & Benefits Policies (initial release only)
• Partner Utilization
• Information on the Treatment of Newly Appointed Non-Equity Partners (initial release only)
• New Partner Capital-buy In Information (initial release only)

The metrics will be presented in both a graphical and detailed format.

This Report is designed for Firm Leaders and the Finance Team who are involved in setting Partner Compensation and Capital Contribution levels.

• Download a sample of this Reporting option

These spreadsheet-style reports (in .xls format) consist of a 'data export' of the comparison group statistics provided within both the Revenue Management Reports and Talent Management Reports ordered. The group statistics from each comparison group ordered by the Firm will be displayed as a separate worksheet within the spreadsheet. Your Firm’s data for each office and practice group submitted to the Survey will be included in a separate worksheet. 

Please contact a Survey Staff member if you would like to preview this product.