The impending demise of the billable hour as a basis for charging for professional services and in particular, for legal services, has been anticipated in various media for some time. In support of this argument it is usually stated (often as ‘fact’) that this method of billing encourages inefficiency i.e. the longer it takes to… Continue Reading
Category Archives: Profitability
Subscribe to Profitability RSS FeedLarge law firms perform well but feel the heat
Posted in Australasia, Leadership, Legal Profession, Profitability, UncategorizedDespite a period of patchy M&A work, scratchy demanding clients and less ‘sticky’ partners, Australia’s ten largest law firms (Big Law Australia: BLA) have recently reported record gross fees, high equity partner profits coupled with a bullish view of their future world (Alex Boxsell and Samantha Bowers reporting in AFR 16 September 2011). However, they are… Continue Reading
Am Law Profitability Index – powerful performance comparisons of offices, divisions & firms
Posted in Am Law, Benchmarks, Leadership, ProfitabilityThe profitability index is an important metric in the 2011 Am Law 200 performance reports when comparing top US law firm performance. However, as the authors state: “Some of this year’s Am Law 200 metrics, such as gross revenue, PPP, and revenue per lawyer, are straightforward. And because they are easy to comprehend in a list,… Continue Reading
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Sean Larkan
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