The newly released 2007 Altman Weil Law Department Metrics Benchmarking Survey, published with LexisNexis® Martindale-Hubbell®, reports total expenditures for the largest U.S. corporate law departments up significantly with internal costs led by lawyer compensation outpacing external expenditures. The press release for the survey presents a number of interesting statistics:
“the internal costs of operating an in-house law department of a large company with $5 billion or more in revenues grew from $323,697 per lawyer to $346,497 per lawyer, a 7% increase over the previous year. Lawyer compensation and benefits for large companies, the biggest component of internal expenditure, was up 19.2% to $313,747 per lawyer.”
Read more at Law Department Costs Jump in Largest U.S. Corporations.
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