Bobogado - Page 2 of 3 - For Lawyers & Law Students

Law Firm Profit Margin – Don’t Kid Yourself

A recent article by Bruce Stachenfeld over at Above the Law reminded me of my biggest pet peeve regarding law firm financial performance: misleading law firm profit margin figures. Bruce correctly points out that “profit margin is a dangerous statistic to use in comparing law firm profitability” because it “can be completely manipulated by two factors: [t]he titles that a firm gives to its lawyers; and [t]he leverage in the system.” Essentially, for a given number of associates, the more partners a firm has, the higher its profit margin (%) will be. The reason for this is that typically all partner compensation is included as profit. This is a mistake. Keep reading to learn why this is a problem and to learn how to calculate law firm profitability the right way.

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Public Defender Scholarship for Law Students

I participated in a public-defender internship during my last of year of law school. Looking back, the experience was easily one of the most valuable and eye-opening of my legal career. I’d like to encourage today’s law students, even those not interested in a career in criminal law, to spend time defending indigent criminal defendants. So I’m proud to announce that I’m offering a $1,000 scholarship for law students. It will be awarded annually to a law student who has participated in a public defender program. Keep reading to learn more about this scholarship opportunity for law students.

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