NZ Law Firm Practice Comparison
How does your Practice Measure Up?
Find out how your firm compares with other similar practices based on Key
Performance Indicators, including:
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Net Profit per Equity Partner
Gross Income per Equity Partner
Hours Charged per Year
Billing Efficiency
Hourly Charge-Out Rates
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Staff Turnover
Expenses as a % of Gross Income
Source of Fees
Gross Income per Professional Staff
Staff per Fee Earner/ Principal
The Management Research Centre is conducting the biennial 2011 Law Firm Practice Comparison. Participation in
this service will provide you with a comprehensive report showing how your practice performance compares with
other practices, including those with similar income level, location, and number of principals.
What is the Law Firm Practice Comparison?
The MRC has been conducting the Law Firm Practice Comparison in association with the NZ Law Society for over 25
years. A comparison allows you to benchmark your practice’s results against similar practices, without individual firms
being identified. Principals can compare key financial and non-financial indicators with other participating practices
allowing them to identify strengths and weaknesses within their practice. It provides essential information for
management decisions, budgeting, and goal setting.
What is required from participants?
After the Management Research Centre receives your registration, at the close of the registration period we will send
you a pre-coded questionnaire. The questionnaire will ask for information on revenue, expenses, salaries, client
breakdown, and billing data. Once complete, return your questionnaire to the Management Research Centre – it’s as
simple as that. In return you will receive a comprehensive individual report showing how your practice’s key
performance indicators compare with others in the industry. The questionnaire is due back in late September, and
reports are sent out in November.
Confidentiality
All information submitted to the Management Research Centre is kept completely confidential. Each firm is assigned a
code number and all information is analysed, processed and reported based on code number only. Access to the
coding database is restricted. Neither the Law Society nor any other practice has access to your individual results.
Individual Comparison Reports
The Individual Comparison Report identifies median and percentile results for each key performance indicator. Each
individual comparison is personalised to show the difference between your firm’s result and the median result for the
group. The upper and lower quartile averages identify the range of
performance, while the average of the best three identifies the
average results for the best three participants based on net profit
per equity partner.
Each participating firm will receive individualised reports comparing
their results with 1) All Practices, as well as with firms of similar 2)
Gross Income, 3) Number of Principals, 4) Geographic Location,
along with a number of other supplementary reports.
Individual Firm Ratio Reports
The Individual firm ratio reports display key ratios for each practice,
identifying your firm only. The individual firm ratio report provides a
fair comparison of income generation, salaries, expenses, profit, staff levels, charge out rates and time on a common
basis for all firms. A firm can then look at the results of practices with a similar profile to their own and see where they
gain advantages or where there is need for improvement.
For more information contact the MRC on 0800 14 24 34 or visit www.Management.ac.nz/LawReport
Registration – Law Firm Practice Comparison 2011
Details
Contact Person:
Firm:
Postal Address:
Post Code:
Phone:
Fax:
# of
Partners*:
Email Address:
Participation Fees
* For incorporated firms, use the number of Shareholder/Directors in place of Partners
Sole Practitioners $228.85 ($199 + GST)
2-3 Partners* $286.35 ($249 + GST)
4-6 Partners* $343.85 ($299 + GST)
7 + Partners* $401.35 ($349 + GST)
Participation Fee (Select from above based on practice size)
(Includes 1 copy of the Report)
Additional Copies of the Report @ $79.35 Each ($69 + GST)
TOTAL COST
(Including GST)
Payment Options
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Invoice us on purchase order #
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Cheque attached (payable to “The University of Waikato” – don’t forget to include GST)
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Charge my credit card (Visa or MasterCard accepted)
Name on Card:
Signature:
Card Number:
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Expiry date:
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Terms & Conditions
Participation - By completing this form we agree to participate in the survey by completing the questionnaire. Withdrawal – Your office
may withdraw from the survey up to 2 weeks before the questionnaire close-off date and receive a refund less a $50 administration charge.
If you withdraw after 2 weeks prior to the questionnaire close-off date you will not be entitled to a refund. Payment – By participating in the
survey you agree to pay your account in full by the due date (20th of month following registration). If you do not pay your account by the due
date The University may suspend or restrict its services to you and require you to pay any additional fees that are incurred internally or
externally in order to collect the money owed. Privacy Act 1993 – The University is collecting information about you in order to offer
products and services. This information will be held by The University and may be disclosed to a third party, or debt collection agency if you
default on any of the terms and conditions above. Under the Act you are entitled to correct the information held by The University.
Fax back to: 0800 12 10 12
Post: Management Research Centre, Private Bag 3105, Hamilton. Ph 07 838 4013
OFFICE USE ONLY
DETAILS:
2011 Law Practice Comparison
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Signature:
NUM.SEQ CHECKED BY:
DATE:
Department:
MRC
INPUT CHECKED BY:
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Phone Ext:
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