2014 has been a great year, and for this Wisnik Weekly blog we wanted to share with you our findings from our most recent Law Firm Marketing/BD Survey. This year we received survey responses from 262 legal Marketing and BD professionals from across three markets: New York, DC, and Chicago. Here are the top trends we observed:
- The average Chief has been at their Firm for 6 years, and the average Director has been at their firm for 5.8 years.
- More than 60% of all respondents reported that their department size has increased in the past year, and only 8% of all respondents reported that their department size has decreased.
- 36% of Chiefs and Directors hold an MBA or Master’s Degree, while 19.5% hold a JD.
- Average hours worked per week was fairly even across all three cities, with 49 hours per week in New York, 46.8 hours per week in Chicago, and 49.3 hours per week in DC.
- Marketing/BD professionals are still getting promoted at a significant rate. 44% of all respondents reported a promotion with a title change in the past 2 years.
- 73% of all respondents reported receiving a bonus and a raise in the past year and only 4.5% received neither.
- 65% of all respondents reported being satisfied with their compensation.
Based on the number of new jobs we have received and filled this year combined with the results of this survey, we can confidently say that the industry continues to create new jobs and provide growth opportunities. The average salary numbers we saw in the survey match the actual live data of jobs that we have worked on and we believe they are an accurate representation of the market.