The Big Question
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| Analysis
From herded cats to well-drilled troops
By Legal Week | September 1, 2009
Slaughters, Linklaters and BLP are praised for quality leadership as partners become late converts to the value of management in the legal profession. Claire Ruckin reports
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Partners back move to merit-based pay
By Legal Week | August 4, 2009
Leading law firms are set to move substantially towards a merit-driven pay model for assistants according to research that shows more than 90% of partners forecasting such a shift. The latest Legal Week Big Question survey found an overwhelming 96% of responding partners in favour of some form of move away from the associate lockstep system towards a merit or competency-based salary model.
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| Analysis
Women failing to crack law's glass ceiling
By Legal Week | July 23, 2009
Women are still substantially underrepresented at senior level in City firms, according to new research with more than half of partners believing the profession has a poor record at retaining female lawyers. The latest Legal Week Big Question survey found more than two thirds of respondents (67%) felt representation of women at a senior level was either 'poor' or 'could be better'.
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| Analysis
Confidence edges up as firms bank on Asia
By Legal Week | July 9, 2009
Business confidence at City law firms has edged up, driven by hopes of a swift recovery in Asia, with more than a third of partners now expecting revenue growth over the next 12 months. The latest Legal Week business confidence survey found 42% of responding partners were expecting increases in fee income at their own firm over the next year, including 18% who were expecting fee income growth of more than 5%.
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Partners predict market consolidation as downturn drives merger interest
By Legal Week | June 25, 2009
Two out of three partners believe the recession will present attractive opportunities to secure opportunistic mergers, suggesting that the UK market could be set for a run of consolidation. The latest Big Question survey found that 68% of partners believe the downturn will present attractive opportunities to secure domestic mergers. A further 28% thought there may be such deals, leaving only 4% claiming such unions were unlikely.
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| Analysis
Consultants struggle to win partner buy-in
By Legal Week | June 10, 2009
City lawyers have a decidedly jaded view of the contribution of consultants to the legal profession, according to research that should provide a wake-up call to advisory professionals.
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Partners braced for falls in revenue and profits
By Mark Goddard | May 27, 2009
Nearly two-thirds of senior lawyers expect revenue at their own firm to be down on last year, according to Legal Week research. Based on responses from more than 100 partners, The Big Question found that 59% are expecting a fall in revenue at their own firm in 2008-09 compared to last year, with 24% expecting increases and 17% expecting revenue to stay flat. More than a quarter of respondents thought revenues would be down annually by between 15% and 10%.
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Partners predict business model will change
By Mark Goddard | May 13, 2009
The recession will push law firms further away from the traditional partnership model, according to new research from Legal Week. The latest Big Question survey found that just over 70% of City partners believe firms will be forced to move away from their traditional business models as a result of changes brought about by the recession.
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Partners confident of improving business nous
By Mark Goddard | April 29, 2009
City lawyers' commercial awareness has come along in leaps and bounds in recent years, according to a survey of senior partners, with three out of four respondents rating the profession's business nous as 'good' or 'excellent'.The latest Legal Week Big Question poll found 54% of respondents rated partners' commercial awareness at top 50 UK law firms as 'good', while 21% had it down as 'excellent'. A further 20% rated partners as 'OK' while only 5% viewed commercial knowledge as 'poor'.
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Partners hint at better times ahead
By Mark Goddard | April 8, 2009
Business confidence at City law firms appears to have bottomed out, despite a record number of partners predicting falls in revenue over the next 12 months.The latest Legal Week Business Confidence survey found 7% of respondents expect increases of revenue of 10% or more over the next 12 months, marking a slight increase on the 5% making the same prediction in January - a record low for the quarterly survey since Legal Week started recording figures in 2001.
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