Thursday, July 24, 2003

What clients pay for senior partners I was looking through the slides from yesterday's audio seminar on Law Firm Pricing, sponsored by IOMA, the Institute of Management & Administration, an found a slide on what clients pay senior partners by practice area.   Antitrust attorneys top the charts at an average of $437 per hour (topping out at $850 per hour).  Clients pay these senior parners rates up to 16.5% higher than those paid to attorneys in other practice areas.   Who's on the bottom of the chart?  Environmental and Employment senior partners.  They are paid an average of $375 per hour (topping out at $750 per hour).  Clients pay them 5.9% less than senior partners in other practice areas.   From lowest to highest-paid senior partners, the practice areas were employment (at the bottom), environmental, civil litigation, intellectual property, IP litigation, privacy, corporate and at the top, antitrust.  The charts are based on research by The BTI Consulting Group of Boston, MA. 8:17:01 PM    comment []

Law Firm Sales Directors An interesting thing I picked up at the Northstar Conference this week in Chicago on "The Latest in Law Firm Business Development" is that law firms are indeed hiring sales directors.  The speakers predicted that most law firms will eventually have a Director of Sales.  To wit:   José E. V. Cunningham, Chief Sales & Marketing Officer, Shaw Pittman LLP, Washington, D.C. He is paid a straight commission on new business he brings in.  In most states this fee-splitting is verboten by the ethics rules, but it's OK in Washington, D.C.  This gives Shaw Pittman a huge advantage in the market.  He is responsible for the firm's global business development initiatives, including client-focused and industry-based solutions, and all marketing activities.  Jose is a sales veteran from Cap Gemini Group, Channel International, Ltd, Unisys Corporation and AT&T.   Gary Booth, Chief Client Development Officer, Pillsbury Winthrop, San Francisco.  Gary was well known in his prior job as Managing Partner for Global Business Development for Arthur Andersen.  His current responsibilities include management of the firm's client team program that includes "opportunity management," client selection, client satisfaction and relationship sales training.   Mark Cowan is the Partner with Patton Boggs in Washington, D.C.  As Head of Business Development and Marketing, he does not practice law and devotes himself full-time to new business generation.  I did a Webinar with Mark on sales, and there's an article mentioning him on the LawMarketing Portal at http://www.lawmarketing.com/publications/news/pub449.cfm.   Rob Randolph, Marketing Manager for Business Development, Duane Morris, Chicago.  Rob was also on the Webinar with Mark Cowan and me, and Rob wrote an article about law firm sales, which is online at http://www.lawmarketing.com/publications/news/pub388.cfm.   Barbara Sessions, Marketing Partner and Director of Business Development, Winston & Strawn, Chicago, IL.  Barb is an ex-LMA president and has been with her firm for 9 years.  She's one of the few marketers who went from staff to partner.  She's in charge of communications, marketing strategy, practice development (industry strategies and cross-selling), business development (RPF responses, market share analysis, research, contact management), strategic initiatives (anniversaries, events, sponsorships, charitable efforts, partner retreats), public relations and training.   Will marketers move into sales?  Only if the marketers have the right genetic makeup.  Cunningham said that "marketing DNA is different from sales DNA." 9:51:03 AM    comment []

© Copyright 2004 Larry Bodine. Last update: 4/10/2004; 2:32:16 PM.