Thursday, June 24, 2010

Legal Marketing Skills Offer Job Protection

Good news on the legal horizon includes increased hiring plans among half of the law firms questioned in a recent Altman Weil survey, reported in yesterday's Wall Street Journal Law Blog.  Also, billing rates increased 3% last year.

Other aspects of the survey document past hiring practices that translate into a particularly difficult future market for young lawyers and non-equity partners, including:
♦ Nearly 40% of the firms surveyed made fewer partners in 2009 and 50% indicated they “will or might” do so again in 2010;

♦ About 50% of the firms reduced or discontinued hiring first-year associates in 2009 and 38% said they will do the same again; and

♦ About 20% of the firms planned to fire non-equity partners this year, and 37% “will or might” deequitze partners.
Those who stay and those who don't will be determined in part by their ability to bring in new business. Marketing is a process that can be learned. Click here for a free sample attorney marketing plan.

Click here for the Altman Weil 2010 Law Firms in Transition survey results.

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