This report provides intelligence on trends in law firm marketing and business development departments while also allowing firms to benchmark compensation for a wide range of job titles, functions, and geographies for marketing and business development roles. It also contains detailed compensation trends for six groups- Chiefs/1st Chair Directors, Second Chair Directors, Coordinators, Managers, Senior Managers, and Specialists/Senior Specialists.
The data included in the report is from a survey taken by marketing and business development professionals on their challenges, contentment levels, and compensation.
Key Takeaways from this years results:
- Diversity: While only 24% of marketing and business development chief/first-chair director roles in the U.S. sample are held by men, they earn over $100,000 more annually than their female counterparts. Just two years ago in 2020, these groups were separated by $75,000 (with men out-earning women)
- Compensation: The average salary for marketing and business development chiefs/first-chair directors in the U.S. sample is $282, 934, which is 11% higher than this group’s average annual salary in 2020
- Career Path Options: 76% of the marketing and business development professionals interviewed in the U.S, sample claim their firm has not provided clear career path options
- Average Compensation as a Percentage of Average RPL by Firm Size: ALM debuts the “Average Compensation as a Percentage of Average RPL” metric in this year’s report. For Chiefs and 1st Chair Directors in Am Law 200 firms, firms with 750 or more lawyers, the average compensation is more than 60% of the average revenue per lawyer (RPL). For firms under 750 lawyers, the percentages drop below 50% compensation to RPL. Not surprisingly, men earn a greater percentage of RPL than women
- Job Satisfaction: While 70% of marketing and business development professionals interviewed in the U.S. sample report they are content within their current role, many of them are concerned by the volume of work being too high without sufficient support
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