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    Wisconsin Lawyer
    December 01, 2001

    Wisconsin Lawyer December 2001: The Economics of Practicing Law -- Figures

    Wisconsin Lawyer December 2001

    Vol. 74, No. 12, December 2001

    The Economics of Practicing Law: A 2001 Snapshot


    See how the business side of your practice compares to that of your peers in several key areas: billing methods, hourly rates, overhead costs, personal income, and more.

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    Figure 1
    2000 Attorney Net Income by Principal Position,
    Full-time Attorneys Only

    Principal Position N* Mean Median
    Sole Practitioner 151 $80,341 $61,000
    Sole Practitioner with Associates 25 107,600 96,000
    Sole Practitioner Sharing Space 12 76,417 46,000
    Partner in Firm with 2-7 Partners 156 121,352 100,000
    Partner in Firm with 8+ Partners 54 184,823 143,750
    Associate in Firm with 2-7 Partners 58 58,474 52,250
    Associate in Firm with 8+ Partners 43 93,105 85,000
    Arbitrators/Mediators/ALJ 6 75,367 79,500
    City/State/County Government 146 72,864 75,000
    Federal Government 9 77,422 78,000
    In-House Counsel 69 89,196 80,000
    Legal Aid/Legal Services 9 53,556 45,000
    Law Clerk 5 31,800 34,000
    Other Classifications 13 66,153 60,000
    All Attorneys 758 $94,501 $79,000
    *N = Number Responding

    Figure 2
    2000 Annual Net Income by Years in Practice,
    Full-time Attorneys Only

    Years in Practice N* Mean Median
    1-2 42 $50,781 $42,650
    3-5 72 57,546 49,500
    6-10 117 71,796 65,000
    11-15 111 90,716 78,500
    16-25 240 106,902 85,000
    26 or more 170 122,761 95,105
    All Attorneys 758 $94,501 $79,000
    *N = Number Responding

    Figure 3

    Figure 4

    Figure 5
    Distribution of 2001 Attorney Hourly Billing Rates
    by Region and City Population

    Office Location
    by Region N* Mean Median
    Northwest 85 $120 $120
    Northeast 94 134 130
    Central/East 100 146 125
    Southwest 103 145 140
    Southeast 72 154 150
    Milwaukee County 85 176 175
    Office Location
    by City Population N* Mean Median
    Less than 5,000 108 $117 $120
    5,000-24,999 101 133 135
    25,000-39,999 33 185 150
    40,000-99,999 129 136 130
    100,000 or more 174 170 168
    All 545 146 135
    *N = Number Responding

    Figure 6
    2001 Typical Flat Fees Charged for Legal Services

    % Who Charge   Mean Median
    Service a Flat Fee Fee Fee
    Simple Will 87% $134 $110
    Deed Preparation 83 82 75
    Power of Attorney 83 69 60
    Directives to Physicians 79 51 50
    Traffic Tickets 64 364 250
    Articles of Incorporation/
    Association 62 431 400
    Purchase or Sale of
    Real Property 49 426 400
    Sale of Personal
    Property/Bill of Sale 49 155 63
    Note Preparation 47 87 50
    Probating a Will with
    Independent Executor 31 1,725 1,700
    Patents/Trademarks 29 3,069 2,750
    Other 4,287 650


    Figure 7

    2001 Use of Marketing Device by Firm Size

      1-10 11-25 >25
    Marketing Device All Firms Attys Attys Attys
    Yellow Pages Block Display 60% 56% 69% 39%
    Firm Brochure and Resume 32 9 34 78
    Newspaper/Periodical Articles 20 12 21 31
    Employment of PR Firm 4 1 3 15
    Newspaper Advertising 18 16 18 19
    Marketing Plan 15 5 10 49
    Radio/TV Ads 13 8 18 14
    Seminars 25 10 24 61
    Client Newsletters 20 3 17 62
    Web Page 32 12 32 76
    Listing in Legal Directory 48 31 52 74

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