ALM Legal Intelligence has announced a new tool within Legal Compass that enables users to benchmark the compensation of marketing and business development professionals in law firms across North America.
ALM Intelligence partnered with Calibrate Legal to collect compensation and department information from nearly 900 hundred legal marketing professionals across the NLJ 500 and Canada, with a goal of providing a robust and comprehensive data set for comparisons. This survey collected information related to compensation, department size and composition, and reporting structures. Additionally, the survey recorded respondents’ satisfaction with their jobs, and the number of hours worked weekly. The survey will be deployed annually to ensure the dataset and benchmarking tool keeps pace with compensation trends in the legal industry.
“Revenue generation and enablement is a coveted set of skills in which law firms routinely invest,” said Patrick Fuller, Vice President, ALM Legal Intelligence. “As firms increase their investment into revenue enablement professionals and programs, this tool becomes a powerful feature for both the firms and the professionals.”
Key features of the Marketing Compensation tool include:
• The ability for legal marketing professionals to benchmark their compensation against their peers at other firms.
• Analysis of marketing department structure compared to hundreds of other firms.
• Create a competitive offer for marketing professionals when recruiting new leadership.
“This new tool, combined with our Partner Compensation Modeling Tool, provides Legal Compass subscribers comprehensive insight into the compensation strategies for the primary revenue generators within firms,” said Karen Veltri, Director of Product Development for ALM Intelligence.
About ALM Intelligence
ALM Intelligence, a division of ALM Media LLC, supports legal, consulting, and benefits decision-makers seeking guidance on critical business challenges. Our proprietary market reports and analysis, rating guides, prospecting tools, surveys, and rankings, inform and empower business leaders to meet business challenges with confidence. Please visit alm.com/intelligence for more information.
ALM (alm.com), an information and intelligence company, provides customers with critical news, data, analysis, marketing solutions and events to successfully manage the business of business. ALM serves a community of over 6 million business professionals seeking to discover, connect and compete in highly complex industries.