2024 BRASS Mid-Year Release
The BRASS is released on a biannual basis: the Initial and the Mid-Year Release. Participation is now underway for the 2024 BRASS Mid-Year Release.
The results are delineated into three distinct Reports, targeted to the Firm leaders responsible for the management and success of each Report's focus. Every Report includes summary charts designed to visually present the firm's current and historical position relative to its peers, as well as a detailed ranking of the Firm to the peer group.
A description of the metrics included within each of the Report offerings is described below.
As a complement to the Reports ordered, participants will once again receive the Revenue360 Performance Analytics Dashboard at no additional cost. This desktop application allows multiple users at the Firm to interactively filter between both historical and current year benchmarks across multiple comparison groups, multiple metrics and multiple attorney groups.
- Timing
- Key benefits to participation
- Data disclaimer & confidentiality statement
Timing
Submissions for participation in the Mid-Year Release of the 2024 BRASS are due September 16, 2024. Results will be distributed in early October 2024.
Key benefits to participation
- Strong Participation Base of 250 Law Firms – Last year our participants included nearly 75% of the largest, most profitable law firms.
- Receive Three Distinct Billing Rate Benchmarks – The Revenue Management Report (RMR) provides information on three distinct billing rates – standard rate, worked (agreed-upon) rate and billed rate. This allows participants to benchmark the rates that many firms realize due to client pressures.
- Ability to Create 'Peer Firm' Comparison Groups to Fit Your Firm's Needs – Participants can choose to benchmark their individual offices and practice groups to over 2,000 standard geographic comparison groups and 500 standard national practice area comparison groups.
Additionally, many participants opt to create comparison groups from a list of their peers/competitors to fit their individual firm needs.
- Complimentary Review of your Firm’s results which will enable your team to identify opportunity for improvements
- Availability of Multiple Products and Report Styles – All of our Report offerings are specifically targeted to the Firm managers responsible for taking action.
Not only can participants select benchmarking Reports by the size of their national practice, but also through ordering 'Practice Area by Location' comparison groups, which combine the location of the attorneys with the area of law practiced.
- Obtainability of Key Revenue Metrics by Practice Group – Many law firms acknowledge the importance of managing revenue by practice group, in addition to geographic location.
- Inclusion of Diversity Metrics – The Talent Management Report (TMR) not only includes metrics on the demographics of your attorneys, but more importantly, participants have the ability to measure utilization levels of attorneys delineated by sex and race. The data allows firms to identify areas of strength/weakness in their associate pipeline ensuring that all attorneys have equal opportunity to work on premier work assignments to progress to partnership.
- A Win-Win Time Investment to Cost Proposition –The time necessary for participation is minimized with our Data Extraction Tool which, for many participants, is as easy as a download of information from their financial systems. We strongly believe that the investment to participate is significantly more beneficial to the Firm, compared to the alternative of compiling and analyzing information obtained from other labor-intensive sources.
Data disclaimer & confidentiality statement
Data security and participant anonymity continue to be our top priority. To demonstrate how seriously we take these matters, please download a copy of our ‘Data disclaimer & confidentiality’ statement to review.
How to participate in the BRASS
- Data form & instructions
- Comparison groups
Data form & instructions
Data form
Participants in the 2024 Mid-Year Release of the BRASS have the following two options for submitting their data:
Preferred method: Free Data Extraction Tool
The Data Extraction Tool is available free to participants in this survey who have either Elite or Aderant time and billing systems. The Data Extraction Tool is a stand-alone, desktop application that can be installed and run on any PC at your firm.
All BRASS participants who intend to use the Data Extraction Tool must visit the download site to install the latest application on a designated PC.
A key advantage to using the Data Extraction Tool is the ability to preserve your firm's mappings to the survey-defined classifications across survey releases. Using this application will not only reduce the time to participate in subsequent survey releases but will ensure consistency and enhance comparability in the results.
The 2024 BRASS Mid-Year Release Data Extraction Tool installation instructions are available for download.
- Download the 2024 BRASS Mid-Year Release data extraction tool installation instructions
- Download the 2024 BRASS Mid-Year Release data extraction application
Alternative method: Spreadsheet-based questionnaire
Law firms who are not on the Elite or Aderant time and billing systems can choose to submit their data using our spreadsheet-based questionnaire. Firms should download and complete the following:
Instructions
The 2024 BRASS Mid-Year Release instructions document includes important information about the columns of data requested for each timekeeper classification submitted to the Survey.
Comparison groups
‘Standard’ comparison groups
The following document contains a listing of the standard national, geographic, national practice area and practice area by location comparison groups that we anticipate producing during this Survey release. The document provides information on the types of reports available. This document also serves as the report order form.
Last year we were able to produce office comparison groups for over 20 international locations. In addition, participants have the option of receiving all international office comparison groups in both USD, GBP, EUR, and the local currency. We strongly encourage participants to submit all of their individual office information, regardless of the size.
We recommend that each participant review the information contained within the comparison group description document before completing the report order form.
‘Peer firm’ comparison groups
Participants can also choose to create 'peer firm' comparison groups for their individual offices or practice groups, provided the criterion for participation in the group adheres to all current antitrust laws.
We are asking that all participants identify a listing of their primary peers on a national level. To assist with this effort, we developed a ‘Peer Firms’ Listing which allows you to select from the 200 law firms that were listed on the most recent American Lawyer publication. Additional space has been provided for your Firm to identify any Peer Firm listed outside of the AmLaw 200.
If your Firm needs a group not shown on the comparison group listing, please contact a Survey Staff member to submit any custom group requests. All custom comparison groups are subject to the approval of the Survey Staff and must meet our confidentiality criteria and legal guidelines.
A member of the PwC Survey Team is available to assist your firm with your comparison group selections. Please email a Survey Staff member if you need assistance.
BRASS product offerings
- Introduction
- The Revenue Management Report (RMR)
- Revenue360 Performance Analytics Dashboard
- The Talent Management Report (TMR)
- The Partner Management Report (PMR)
- The 'Report Export' Spreadsheets
Introduction
The BRASS benchmarking results are organized into Reports targeted to the Firm Managers responsible for taking action. A description of the metrics included within each of the Reports or Product offerings is included below.
Each Report type contains metrics for 16 distinct timekeeper titles and then further delineates them by years of experience, or law class year.
The Revenue Management Report (RMR)
The following metrics are included within each RMR:
- Standard Rates
- Worked (agreed-upon) Rates
- Billed Rates
- Discounting Levels
- Utilization
- Realization
- Leverage
- Alternative Fee Arrangements (initial release only)
- Annual Billable Hour Targets (initial release only)
- Information on the methodology behind how Law Firms account for currency fluctuations
- Estimated Impact to Profitability by Achieving Performance Improvements
The metrics are presented in both a graphical and detailed format. Many of the graphs will include multiple years of historical information to better understand directionally where the Firm has performed relative to its peers.
A ‘Snapshot of Findings’ Report will be included with each Revenue Management Report ordered. This high-level graphical Report is designed to showcase the most referenced metrics.
This Report is designed for Firmwide Managers, Office and Practice Group Leaders and the Finance Team.
Revenue360 Performance Analytics Dashboard
This reporting Dashboard allows multiple users at the Firm to interactively filter between both historical and current year benchmarks across multiple comparison groups, multiple metrics and multiple attorney groups. All of the visualizations that users create within the Dashboard can be saved to share with key Firm leaders.
This Dashboard offering is a companion product with comparison groups ordered in the Revenue Management Report style. Again this year, the Dashboard file is included with the base participation fee.
Please contact a Survey Staff member if you would like to preview this product.
The Talent Management Report (TMR)
The following metrics, focused on retaining an engaged and diverse Attorney workforce, will be presented within the TMR:
- Associate Compensation (Includes metrics showcasing the percentage receiving a bonus and the various bonus levels awarded designated by law class years)
- Information on the components of Associate Bonuses as it relates to leave of absences
- Information on Digital Upskilling
- Healthcare Plan Offering information
- Associate Bonuses by Utilization Levels and Seniority
- Staff Attorney and eDiscovery Attorney compensation and bonus information
- Non-Attorney compensation and bonus information
- Associate Retention by Law School Class (initial release only)
- Attorney Metrics by Sex & Race
- Promotions and Terminations
- Utilization
- Information on the Diversity & Inclusion Leadership Team and initiatives/programs (initial release only)
- Firmwide Diversity initiatives focused on Recruiting and Retaining Women and Minority Attorneys as well as initiatives directed towards LGBT Individuals (initial release only)
The metrics will be presented in both a graphical and detailed format.
All BRASS participants will receive a complimentary TMR of their choice.
A ‘Snapshot of Findings’ Report will be included with each TMR ordered. This high-level graphical Report is designed to showcase the most referenced metrics.
The Report is designed for Firmwide Managers, Human Resource Managers and Diversity Leaders.
The Partner Management Report (PMR)
This Report contains key metrics focused on the business owners of the firm. Information for both Equity and Non-Equity Partners are provided in the following areas:
- Partner Demographics
- Partner Compensation
- Ratio Between the Highest and Lowest Compensated Partner
- Partner Permanent Capital Balance Levels
- Ratio Between Compensation and Capital Balance Levels
- Partner Turnover Information (initial release only)
- Partner Admission Policies (initial release only)
- Partner Retirement & Benefits Policies (initial release only)
- Partner Utilization
- Information on the Treatment of Newly Appointed Non-Equity Partners (initial release only)
- New Partner Capital-buy In Information (initial release only)
The metrics will be presented in both a graphical and detailed format.
This Report is designed for Firm Leaders and the Finance Team who are involved in setting Partner Compensation and Capital Contribution levels.
The 'Report Export' Spreadsheets
These spreadsheet-style reports (in .xls format) consist of a 'data export' of the comparison group statistics provided within both the Revenue Management Reports and Talent Management Reports ordered. The group statistics from each comparison group ordered by the Firm will be displayed as a separate worksheet within the spreadsheet. Your Firm’s data for each office and practice group submitted to the Survey will be included in a separate worksheet.
Please contact a Survey Staff member if you would like to preview this product.
