COMP NEWS – ALM Intelligence has published the results of its annual survey on the remuneration and performance of law firms. At a time when remote work is becoming increasingly popular, employee compensation, which varies by location, is an important factor in employee compensation. Compensation survey data also revealed the completion of the highest paid location and the lowest paid location. The beginning of the Delta variant changes not only the guidelines for returning offices, but also the role of the general counsel – again. The data in this report comes from a survey conducted from mid-June to the end of September 2021. A total of 71 organizations responded with a total of 5,101 positions. The report is the essential guide to the remuneration of paralegals and other practitioner support professionals. How to build a culture of well-being? For those of us who talk to legal leaders, the secret sauce is to prioritize DCI in the workplace and allow flexibility in the workplace. “While legal departments within their organizations often take the lead when it comes to promoting diversity internally, the data shows that there is still a long way to go.

We hope that these findings and the annual report will highlight those driving change and also highlight the need for continued efforts to advance the diversity needle,” said Heather Nevitt, Editor-in-Chief of Corporate Counsel. Another data point that the results of the compensation survey show is the average hourly rate of a paralegal. ALM was the first company to study and quantify law firm revenues and the number of employees, and 30 years later, we continue to lead the way as the most trusted source of corporate data. In addition to rich company profiles, our research also provides in-depth information and feedback on staff moves, company representation, and transaction data. ALM is the most trusted media, information and data company that supports both the practice and business of professionals in the legal, insurance, commercial real estate and financial services sectors. ALM delivers high-end content, influential audiences, and high-quality data to more than 7 million professionals who are essential for growing businesses around the world. Please visit alm.com for more information. Law school curricula have long been more “practical.” But the pandemic may have only been the impetus for legal educators and future employers of their students to get on the same page.

“Diversity, equity and inclusion in advocacy are not a one-way street,” said Patrick Fuller, Vice President, ALM Intelligence. “The majority of legal departments that respond to this survey are taking many initiatives to improve diversity, equity and inclusion in their legal services.” More than 120 companies opened and participated in this survey, but only 42 chose to provide answers to the questions. Several companies, including those that eventually completed the study and those that did not, asked for guarantees of anonymity and de-identification before responding. Many organizations that request confidentiality of their responses are known to impose different diversity billing thresholds and requirements from their external consultant. While nearly half of senior legal department heads were women, less than 25% were ethnic minorities The average paralegal settlement rate is highest in the Pacific region at $347 per hour and lowest in the Central-East-South region at $188 per hour. Our surveys and reports are all compiled with the aim of quantifying and informing data that can be used to bring about real change in corporate governance and practice. Everything we produce is designed to answer the questions and challenges that decision-makers face on a daily basis. Paralegal managers received an average annual bonus of $16,872, while paralegal administrators received an average annual bonus of $33,655. In collaboration with the International Practice Management Association (IPMA), ALM Intelligence is pleased to announce the release of the results of its annual compensation survey for paralegals, practice support professionals and managers.

The report, which includes detailed salary and performance data in an easy-to-understand format, is a valuable tool for law firms and legal departments looking to attract, motivate and retain top talent.