Organisation Description Year
RBB Economics

ECONOMIC IMPACT OF REGULATION IN LIBERAL PROFESSIONS A Critique of the IHS Report

A detailed critique of the IHS overall approach to quantifying regulation. This challenges the IHS methodology in terms of the statistical approach used, and the assumptions made around turnover and productivity because of a lack of objective data.

2003
IHS Vienna

Summary of the comparative legal and economic study into the EU conveyancing services market

Thsi report quantifies legal regulation through indexes:

-       Market Entry Regulation Index – covers regulations with regard to licensing  and reservation (number of exclusive tasks) of certain activities, requirements in education (such as length of education, number of professional exams etc) , and quotas on entry.

-       Market Conduct Regulation Index – covers regulations on prices, advertising, locations, business forms, and cooperation.

-       Mandatory Intervention Index

To actually build these indices they score elements and weight the results. The regulation indices are constructed by considering the regulations that hold with regard to a number of categories to do with entry into the profession and conduct within the profession. Each index has a range of “0” (no regulation) to “6” (highest degree of regulation). They produce an overall regulatory index by constructing a weighted sum of the scores, with the weights reflecting a judgement regarding the relative importance of each category of regulation.

2007
SEO Economics

Regulation of the legal profession and access to law

Summary of european wide investigation into access and regulation.

2008
The Law Society

A Firm Decision: The Recruitment of Trainee Solicitors

“Views regarding the overall balance of costs and benefits of trainees differed. The predominant view across firms of all sizes was that they were a net cost during the training period and that they were not profitable until after qualification.” (page 2).

2002
The Law Society

Submission to OFT in connection with its market study into home buying and selling

In relation to conveyancing: “In particular, solicitors now undertake additional compliance work in relation to HIP

2009
Tilburg University

Legal aid, accessible courts or legal information? Three access to justice strategies compared

Argues that courts aren’t very efficient – wants procedures simplified to improve this (not just hiring more judges) – page 12.

2010
The Law Society

Risk Management GuideApril 2009

Insurance premiums determined by – claims record, areas of law practiced, size of the firm, number and location of offices, supervision levels, fee income, excess, commitment to best practice and risk management, SRA reports, and professional disciplinary record – pages 1&2

2009
Bar Council

Entry to the bar working party – final report

Costs of entry to barristers profession summarised (page 16). BVC cost

2007
Solicitors Journal

Citizen power

It costs tens of millions to administer the legal aid budget with 5,000 providers (page 53).

2010
European Commission for the Efficiency of Justice (CEPEJ)

European Judicial Systems 2002

Court costs per head of population quite low in Auk, compared with other EU countries (page 23).

2002
Advice UK

Smart advice – intelligent thinking about advice services

Legal aid “bureaucracy” (page 1) – explained on page 2.

2010
Solicitors Journal

New foundations: coordinated solutions towards a new model

Court fees went up from

2010
Europe Economics

Report for Bar Council – A critique of the evidence used by the LSC for its BVT proposals

Legal aid admin costs represented 6% of budget in 2007/2008 (page 25).

2009
Legal Services Policy Institute

External ownership and investment – issues and challenges

covers that will writing is not a reserved activity, but solicitors aren’t allowed to run it as such as a separate activity – they must comply with regulations that their competitors (page 19).

2008
Legal Services Board

Diversity in the legal profession: a qualitative study of barriers and individual choices

Discussion on the costs to qualification – especially its impact on would-be BME lawyers (page 65 – 66).

2010
Ministry of Justice

Legal Services Bill – Full Regulatory Impact Assessment

Estimates for regulatory costs (page 26 – 27). More costs – complaints (page 48). More on costs of LSB / OLC (page 66 – 67).

2007
Office of Fair Trading

Competition in professions

Estimations of costs of regulatory regime as percentage increase in prices (page 27/53).

2001
Ministry of Justice

Summary: training and regulating providers of publicly funded legal advice – a case study of civil provision

Highly trained advisors can raise the cost of (advice) provision and reduce access (page 1). Economists justify training and regulation as ways of reducing problem of information asymmetry (page 4). Debate over whether costs are proportionate to benefit obtained (page 7). Points out that the for-profit sector is subject to higher training obligations that the NFP sector (page 7). Discussion about the admin costs of compliance with quality standards (page 25 – 26).

2009
The Law Society

More civil justice? The impact of the Woolf reforms on pre-action behaviour

Regulatory changes (Woolf) require active case management systems (page xix).Not all costs are regulatory – some audit costs are imposed by third parties such as expense insurers (page 56). Entire report deals with litigation process – so costs of complying with Woolf is pervasive throughout the document.

2002
Co-Operative Society

Co-operative legal services – consultation response Jonathan Gulliford Director Co-operative Legal Services

The role of regulation is to support the profession in the provision of this service

2009
Legal Services Policy Institute

Training for the future: the professional preparation of lawyers for the commercial and regulatory environment after the Legal Services Act 2007

Report argues that many lawyers do not do reserved work, so therefore do not need to be trained to the level to perform such work (page 5) before being classed as a lawyer.

2009
Moulton Hall Market Research

Referral arrangement and legal services research report

Typical costs to firm who accept referral fees (page 28).

2007
Department for Constitutional Affairs

Quality in the legal services industry – a scoping study

Report suggests that the cost of quality mark accreditation may make it not worth bothering with for some firms (page 22).

2005
Civil Justice Council

Improving access to justice: contingency fees – a study of their operation in the United States of America – Richard Moorhead, Judge Peter Hurst, Robert Musgrove.

Wants contingency fees introduces to remove the need for summary and ex post facto costs assessments etc (page 7).

2008
Ministry of Justice

Legal Services Bill – Supplement to Regulatory Impact Assessment

Report summarises the costs of running the LSB and complaint system

2007
University of Manchester - Institute for Law, Economy and Global Governance

Self-regulation

Short (16 page) conceptual report about self regulation – on the one hand, self-regulation means that monitoring and enforcement costs are reduced (because regulator is specialist). On to the other hand, regulators can prevent liberalisation of working practices.

1999
Legal Services Policy Institute

Towards a new regulatory structure for corporate and commercial legal services

Sole practitioners tend to cause problems, all private practice lawyers must resolve them via compensation fund (page 2).

2009
London School of Economics

Constitutional continuity: Jack Straw speech at the London School of Economics

Ministry of Justice cost

2009
The Law Society

An investigation into the membership of the Children Panel

Some people felt the accreditation costs to be on the children panel was too high (page12). Re-accreditation after 5 years (page 71).

2005
The Law Society

Review of the regulation of corporate legal work

New standard of governance, audit, risk management etc expected under LSA regime (page ii). Details of regulations that annoy corporate law firms (page 30 onwards) – client care, conflicts, lack of understanding of firms IT systems etc.

2009
Penn State University

European Commission Project Regarding Competition in Professional Services

Study covers the extent to which UK legal profession is regulated compared with other EU states – we’re quite low on the index of regulation (page 34 – 35).

2009
Advice Services Alliance

Regulating alternative business structures

NFP organisations may be subject to multiple regulatory oversights – FSA, OISC etc (page 2).

2009
Legal Services Commission

Quality assurance for advocates: Summary report of the QAA Equality and Diversity data survey and focus groups

Survey respondents wary of the cost of obtaining QAA scheme for advocates. (page 27).

2009
Association of British Insurers

ABI’s response to the Legal Services Consumer Panel Investigation into referral arrangements

Referral marketing costs for PI claims estimated to be 23-40% of base legal costs (page 4), compared with 18% for conveyancing.

2010
The Law Society

2009 Regulatory performance survey findings

Survey results: “Firms were mainly positive (over two-thirds agreeing) about the benefit to the profession of an effective SRA and the proportionality of visits in protecting the profession reputation, but were rather more equivocal about whether or not the SRA operates fairly in its contacts with firms (50% agreement). Over three-quarters of firms 78%) thought that the regulatory system places too great a burden on law firms.” (page 4). Then, on page 5- The costs of compliance were excessive for 37% of firms and reasonable for 26%.

2009
University of Bristiol - Professor Paul A Grout

The Clementi Report: Potential Risks of External Ownership and Regulatory Responses – A Report to the Department of Constitutional Affairs

regulation should be focused on the underlying incentives and not the business structure. It makes more sense for the restrictions on the composition of management to be determined by the size of the LDP and the concentration of ownership rather than the business structure itself. Small firms could quite sensibly face different restrictions on management composition to large firms, with the former being grouped with partnerships. A decision to be more relaxed about management composition of large firms is also consistent with the analysis of misconduct according to firm size. The paper shows that misconduct and poor quality is heavily focused on small businesses.
Page 3

The higher the debt/equity ratio in a firm then the more attractive risky strategies are to the company, hence large LDPs or MDPs are far more likely to be at risk of slipping from the

2005
Legal Services Policy Institute

After Clementi – The impending legal landscape

The LSA will give rise to competition between regulators with practitioners assessing the relative merits burdens and cost of each regulator and decide which regulatory home is most suitable for thier practice. Page 2

2006
Community Legal Service Support

Employing a solicitor for the first time

If advice centres employ solicitors, then they have to take on compliance with lawyers code – suggests ring fencing solicitor as a separate entity to reduce regulatory costs (page 9).

2003
Legal Services Board

Diversity in the legal profession: a qualitative study of barriers and individual choices

Discusses firms’ tendencies to use paralegals because they are more cost-effective than qualified lawyers (page 35). Further discussion on paralegal options (page 59).

2010
Legal Services Commission

Quality assurance for advocates: Summary report of the QAA Equality and Diversity data survey and focus groups

Discussion on likely income by various classifications of advocate (page 6 – 7).

2009
Department for Constitutional Affairs

Estimating the size and nature of the civil legal advice sector in England and Wales

Drivers of the cost of advice service provision (wider than just solictors):
The major drivers of the costs of advice service provision, in order of levels of influence (highest first), were identified as:

2006
Solicitors Regulation Authority

Review of Trainee Minimum Salary – Economic and Equality Impact Assessment

EIA report produced when SRA considering removing the Minimum Trainee Salary requirement from the Handbook

2010
Legal Services Policy Institute

Training for the future: the professional preparation of lawyers for the commercial and regulatory environment after the Legal Services Act 2007

For commoditised work, case handling may be done by people with school leaving qualifications only (page 6). Summarises other professions – licensed coveyancers etc (page 6 – 7).

2009
Community Legal Service Support

Employing a solicitor for the first time

Advice agency wages (in 2003) tended to be between

2003
The Law Society

Trainee solictors and remuneration

Breakdown of trainee solicitors pay by size of firm and diversity

2006
Legal Services Board

Legal process outsourcing: transforming the legal landscape – Orijit Das

cost of employing LPO staff in India – Euro 20K – in the UK – Euro 200K (page 13). Charge out rates are also much lower (page 15).

2010
Department for Constitutional Affairs

Legal Disciplinary Practices: A Discussion of the Clementi Proposals. Jordi Blanes I Vidal Ian Jewitt Clare Leaver

Different incentives on hiring staff for ABS vs. traditional partnerships:
partnerships and externally owned law firms face different incentives when it comes to certifying the quality of their staff. Partnerships are better placed to commit to quality than firms with external ownership. Externally owned firms will seek to maximise total profits, while partnerships will typically seek to maximise average profits per partner. These objectives result in different hiring policies. The marginal employee hired by a profit maximising firm will be the one whose productivity equals the cost of hiring, i.e. the

2005
Legal Services Research Centre

Legal aid in Australia: the need for fundamental national reform – David Neal

In Australian survey of criminal legal aid barristers, the net annual salary was round AUS$36,383 (page 3) – way lower than other lawyers.

2010
Victorian Bar

Review of fees paid by Victoria Legal Aid to barristers in criminal cases – PricewaterhouseCoopers

Australian study comparing funding for criminal legal aid barristers, public prosecutors, law firms and in-house counsel (page 3).

2008
BMG Research / Skills for Justice

Skills in the justice sector: a survey of third sector employers 2009

In this sector, there are a large number of volunteers (page 2). Survey shows the ratios of paid to unpaid staff among survey participants (page 16).

2009
The Law Society

Ethnicity and earnings in private practice

Average earnings per solicitor – Page 6

2009
Advice Services Alliance

Employing solicitors in Citizens Advice Bureaux

Indicates that salaries currently being offered to solicitors employed in the public sector and not for profit sectors tend to be in the region of

2008
Legal Services Research Centre

Findings from the Legal Advice Sector Workforce Surveys

Table shows breakdown of publically funded legal advice by type of employ (shows percentage of volunteer workforce) – page 11. Income costs for full-time workers on page 15.

2007
Institute of Legal Executives

What legal Executives do

Latest salary surveys found jobs for up to

2010
Nef consulting

The socio-economic value of law centres

Law Centre advice estimated to cost

2008
Legal Services Board

The future of legal services: Emerging thinking

Lucy Scott-Moncrieff – Scott-Moncrieff Harbour Sinclair – Reports that:
Kay part of competitive advantage is recruiting and retaining good people. That is achieved through paying fee earners 70% of the fees they generate and they are self-employed. Pages 48-51

2010
Bar Council

Entry to the bar working party – final report

Minimum pupillage award at chambers is

2007
Bar Council

THE ECONOMIC CASE FOR THE BAR A COMPARISON OF THE COSTS OF BARRISTERS AND SOLICITORS

Overhead comparison as a %age of income between barristers and solicitors in the 1990s Page 6-7

1999
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 46

2006
Bar Council

Access to justice: barristers working in the public interest

Overheads at chambers around 35% of turnover (page 8).

2009
Bar Standards Board

Review of Pupillage – Report of the Working Group

Refers to minimum wage rates for solicitors (page 93) and what those rates are.

2010
European Economics

Crown Prosecution Service: the choice between in-house and self-employed advocates – a critique of the CPS’ analysis

Report summarises overheads costs at the CPS (pages 11 -12).

2009
The Law Society

Earnings and work of private practice solicitors in 2007

Reporting on a representative sample of practitioners by diversity, firm size (with 2-10 partners slightly over represented) grade and age. (Pages 8-10).

The median earnings for all full-time private practitioners taken together were

2008
Institute of Legal Executives

Why become a Legal Executive Lawyer – Facts & Figures

Reports starting salaries for Legal Executives are usually up to

2010
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 42

2009
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 42

2008
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 42

2007
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 43

2002
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 46

2005
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 46

2004
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 46

2003
Legal Services Research Centre

Legal advice sector workforce: Analysis of survey findings – Marisol Smith and Tania Tam

Survey compares income for the private practice and not for profit sector (page 28)

2006
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 64

2001
The Law Society

Corporate counsel

Survey of corporate counsel in England & Wales looking at numbers, types of organisation worked for, sectors, size of departments, salaries and roles.

2008
Audit Commission

Sheffield City Council – legal servicesBest value inspection service

Sheffield council’s legal team cost

2001
Acritas

2010 Global Elite Analysis

Some information on the cost of legal advice to corporate

2010
Legal Advice Sector Partnership Steering Group

Advice forward: developing skills for the future

Staff costs across various entity types compared (page 27).

2006
European Commission for the Efficiency of Justice (CEPEJ)

European Judicial Systems 2002

Staff costs of public prosecutors (page 62).

2002
Skills for Justice

Legal Services in the UK: an overview

Summarising other research, briefing on legal services in the UK states that:
2001-2008 14% increase in number of people employed in legal services sector
20% of the workforce was self-employed, and the proportion of part time workers was similar (19%)
Majority of work force female (60%), and stongly london centred compared to other businesses (30% compared to 14%)
Average gross pay for lawyers, judges, and coroners was

2010
The Law Society

Private Practice Solicitors salaries

Summary of a survey. Earnings of private practice by grade and size of firm – Page 2
Earnings of private practice by grade and location – Pages 3 & 4
Earnings of salaried partners by PQE – Page 5
Earnings of assistant and associate solicitors by PQE – Page 5
Earnings by grade and tenure with current firm – Page 6
Earnings by category and degree of specialism – Page 7
Earnings by grade & legal aid – Page 9

2008
The Law Society

Private Practice Solicitors salaries

Summary of a survey. Earnings of private practice by grade and size of firm – Page 6
Earnings of private practice by grade and location – Pages 7 & 8
Earnings of salaried partners by PQE – Page 9
Earnings of assistant and associate solicitors by PQE – Page 10
Earnings by grade and tenure with current firm – Page 10
Earnings by category and degree of specialism – Page 11

2005
The Law Society

Private Practice Solicitors salaries

Summary of a survey. Earnings of private practice by grade and size of firm – Page 6
Earnings of private practice by grade and location – Pages 7 & 8
Earnings of salaried partners by PQE – Page 9
Earnings of assistant and associate solicitors by PQE – Page 10
Earnings by grade and tenure with current firm – Page 10
Earnings by category and degree of specialism – Page 10
Earnings by grade & legal aid – Page 11

2007
Law Centres Federation

Fundamental Legal Aid Review

Summary of minimum staff costs for law centre (page 23 – 26).

2004
The Law Society

Trends in the solicitors

Trainees starting salaries by region & Gender – page 70

2000
Legal Services Board

The future of legal services: Emerging thinking

Pascoe Pleasance – LSRC & UCL – Reports that:
the services offered by solicitors may be a simple reflection of the profitability of different types of work

2010
Solicitors Journal

Worth fighting for

Anecdotal reports of practitioners giving up on legal aid work post-BVT (page 12).

2010
Centre for Crime and Justice Studies

CDS Direct: Flying in the face of the evidence

Costs of closed case by CPS was

2008
Frontier Economics

A market analysis of legal aided services provided by solicitors December 2003

Develops a mechanical estimation of supply and discusses the different characteristics of firms at different stages along the cost curve, looking at Crime, Family & Other Civil – Pages 50 to 55

Table 5 shows the private work undertaken by firms holding a contract to undertake publicly funded Crime work. The obvious substitution possibility is from conveyancing, probate, wills and trusts, and personal injury; it accounts for the bulk of private client work undertaken and has a price that is closer to that which can be achieved for publicly funded Crime work (which was around

2003
Kings College London

The Work of the Family BarReport of the Week-At-A-Glance Survey 2008Debora Price PhD & Anne Laybourne MSc

Family Barristers:
Median effective hourly gross rates of pay for barristers are about

2008
Solicitors Journal

No substitute

Legal aid pays

2010
American Bar Association

eLawyering for a Competitive Advantage

Productizing a legal service means systemizing the production of the service, rather than custom crafting the service every time you produce it. Often this means integrating a digital application with the production of the legal service. Unlike the legal form companies discussed above, a law firm still has to provide a human service, but the amount of this human service can be greatly reduced by using online software applications. By shifting a portion of the legal work to the client, attorney time is released for more complex matters, or other pursuits. In many industries, the customer as a co producer of a service or product has resulted in great leaps of productivity and efficiency. When a client inputs their data into a web form, which results in the instant creation of a first draft document, ready for attorney review, there is a great saving in attorney time and effort. page 9
Types of applications that do this include On-line calculators, client appointment scheduling, client data intake, interactive legal advisers, online case management, online dispute settlement. Pages 10-11

2008
International Financial Services London

Legal Services 2009

Profits of top 100 law firms – page 2

Breakdown of exports of legal services – pages 11-12

2009
International Financial Services London

Legal Services 2009 Data

Profits of top 100 law firms – Table 3 & Chart 3

Exports of legal services – page 11

2009
Lord Justice Jackson

Review of Civil Litigation Costs: Final Report Lord Justice Jackson

Review looking at costs of civil justice states:
Range of respondents asserting that other work is used to cross subsidise legal aid becuse of low rates of pay – Pages 67-69

2009
Cardiff University

Damage based contingency fees in employment cases

Suggestion that damage-based contingency work is only profitable on volume cases, where economies of scale can cut costs (page 53).

2008
Bar Council

The Future of the Bar by Nicholas Green QC, June 2010

The ratio of overheads to total fee income in specialist commercial and civil sets was circa 8-14%. In more middle of the road mixed common law sets the ratio was circa 15-22%. In family sets the ratio was 18-25%. In criminal sets the ratio was circa 18-30%. The figures exclude individual barristers

2010
Kings College London

The Work of the Family BarReport of the Week-At-A-Glance Survey 2008Debora Price PhD & Anne Laybourne MSc

Effective hourly rates of pay:
How case is funded (private client, local authority, and legal aid)
Region
Years of call
Diversity
Sub specialism’s
Complexity
Court
- Pages 54-56

2008
European University Institute

The market failure justification for the regulation of professional service markets and the characteristics of consumers

Law Society survey: 37% of fee income comes from private individuals and 42% from private / public sector organisations (page 7). Sole practitioners tend to act for private clients. Irish report (page 7) suggested that 33% of fee income comes from business clients.

2004
Solicitors Journal

Declining popularity

Legal aid fees in MPAs –

2010
The Law Society

Key Facts on the solicitors profession

Estimated gross fees for firms in private practice and contribution to overseas earnings

2009
Office of Fair Trading

Competition in professions

Fees of firms by size – 1990 – 1998 (page 46/71).

2001
Legal Services Research Centre

Legal expenses insurance: preconditions, pitfalls and challenges – Matthias Killian

German data on profitability and income of legal expense insurance providers (page 5).

2010
The Law Society

Trends in the solicitors

Gross fees trends 1993-1999, Overseas earnings 1993-1999, proportion of gross fees from legal aid 1989-2000, Gross fees per fee earner type, per solicitor, by size of firm, and per region. PPE.
Pages 39- 51

2000
Kings College London

The Work of the Family BarReport of the Week-At-A-Glance Survey 2008Debora Price PhD & Anne Laybourne MSc

A quarter of family barristers have taxable profits lower than

2008
The Law Society

Key Facts on the solicitors profession

Estimated gross fees for firms in private practice and contribution to overseas earnings

2008
University of Leeds

Financialization by proxy: the case of large City law firms – Daniel Muzio and James Faulconbridge

Top ten UK firms – 2003 to 2006 (page 10) – turnover up by 53%

2009
BMG Research / Skills for Justice

Skills in the justice sector: a survey of third sector employers 2009

Turnover of survey participation organisations (page 17).

2009
International Financial Services London

Legal Services 2011

Turnover table for largest law firms – page 6.

2011
The Law Society

Trends in the solicitors

Gross fees trends 1994-2000, Overseas earnings 1994-2000, proportion of gross fees from legal aid 1989-2000, Gross fees per fee earner type, per solicitor, by size of firm, and per region. PPE.
Pages 37 – 46

2001
International Financial Services London

Legal Services 2009

Legal services generated

2009
Baker Tilly

Climate Change: Forecasting the Impact of the Legal Services Act October 2010

Murgitroyd & Co – a European patent and trade mark attorney practice that floated on AIM in 2001 with the goal of pan-European expansion (Execution Noble was the
Nomad). It has achieved this and turnover has gone from a

2010
The Law Society

Key Facts on the solicitors profession

Estimated gross fees for firms in private practice

2005
IRN

Legal Brief Part 2 – A Quiet Revolution

Predicts 2.3% growth in 2010 and 2.9% growth in 2011 in legal sector.

2010
The Law Society

Key Facts on the solicitors profession

Estimated gross fees for firms in private practice

2006
International Financial Services London

Legal Services 2009 Data

Range of financial data – Charts 4-6 – including global legal services.

Breakdown of top 50 global law firms. Table 7

2009
The Law Society

Key Facts on the solicitors profession

Estimated gross fees for firms in private practice and contribution to overseas earnings

2007
Bar Council

Report of the Analysis of Demographic Data collected from the Practising Bar in November 2007Prepared for the Bar Council by Dr. Deborah Price and Dr. Anne Laybourne of the Kings Institute for the study of Public Policy 2010.

Report focuses on diversity findings of a survey that achieved a 35% response rate from the self-employed bar. Provides detailed tables of findings. Overheads and expenses accounted for between 11% and 30% of barristers turnover. Median billings data

2010
Journal of economic geography

Financialization and the reorganization of large law firms: practices, vectors and implications

Top 10 UK firm turnover and profitability (2008) shown on page 39.

2009
The Law Society

Ethnicity and earnings in private practice

Determinants of solicitor earnings – page 10-11

2009
Legal Services Research Centre

Legal expenses insurance: preconditions, pitfalls and challenges – Matthias Killian

German data on profitability and income of legal expense insurance providers (page 5).

2010
University of Oxford

What is happening in the legal services market? Law Society meeting on how to respond to outsourcing 7th September 2010 Professor Mari Sako

Global legal services market $458bn revenue employing 2.4m people in 2007. Europe has a 27% share of revenue. – Slide 4
ONS statistics show a 2.5bn export surplus in UK trade in legal services. – Slide 6

2010
Marc Galanter & Simon Roberts

From kinship to magic circle: the London commercial law firm in the twentieth century

In 2000, Magic Circle firms were the top five in terms of income and profit per equity partner – average profits were

2008
The Law Society

Trends in the solicitors

In summary:

2001
Suffolk University Law Review

When law firms fail John P. Heinz

In the very large US firms, profits per partner can hit US$1 million (page 78).

2010
JP Morgan Asset Management

Professional Connections: creating opportunities between IFAs and other advisory professionals

55 solicitor fi rms from across the UK in December
2009/January 2010 via marketing analysts the Orchestra Group. Sixty-four percent of respondent firms declared total annual gross annual fee income of more than

2010
International Financial Services London

Legal Services – City Business Series

Legal services make an important contribution to the UK economy. They
generated

2005
Harvard Law School

Overview of the Professional Services Industry and the Legal Profession

Looking at law firms in the US, high levels of earnings are associated with larger law firms – page 4

2008
Office of Fair Trading

Home buying and selling – A Market Study February 2010

Based on an average cost of conveyancing to a buyer of

2010
Bar Council

The Future of the Bar by Nicholas Green QC, June 2010

Makes distinction between Private & Publicly funded Bar. Privately funded Bar seeing an increase in work – page 11

Based on present rates of pay a typical criminal barrister of 4-5 years

2010
National Audit Office

Solicitor Survey for Criminal Legal Aid Growth For Knowledge

Reports on results of telephone survey of 21% of criminal legal aid firms:

Sample profile – page 3

2009
Kings College London

The Work of the Family BarReport of the Week-At-A-Glance Survey 2008Debora Price PhD & Anne Laybourne MSc

Breakdown of family barristers turnover over the past three years:

On average, barristers who undertake any family work make 70% profit on their turnover, with a 95% confidence interval around this estimate of 68.91% to 70.27% (we can be 95% confident that barristers

2008
Association of British Insurers

Protection and Sustainability: ABI proposals on solicitors’ professional indemnity insurance

over the nine years of the open market, total premiums have only once risen beyond the level of the premium set in the final year of the Solicitors

2010
Price Waterhouse Coopers

The law firms survey 2009

Summary of profit per equity partner for the top 100 firms. Highlights reasons for relatively weak performance of the top 11-25 group of firms. Covers chargeable hours, %age of fees generated from overseas work, and use of outsourcing.

2009
Legal Services Board

Possible futures for international law firms

Breakdown of solicitors over 18 year period (page 20). Currently

2010
The Law Society

The pro bono work of solicitors 2007

Estimates of the financial value of pro bono work over the past twelve months provided by private practice solicitors

2008
The Law Society

Trends in the solicitors

Summary of profitability – page 8
Gross fees trends 1993-1999, Overseas earnings 1993-1999, proportion of gross fees from legal aid 1989-2000, Gross fees per fee earner type, per solicitor, by size of firm, and per region. PPE.
Pages 39- 51

2000
Hildebrandt International & the Citi Private Bank

Client Advisory January 2008 US Legal Market

Overview of corporate legal services market in US, comparing performance in 2007 with previous years.

2008
Frontier Economics

A market analysis of legal aided services provided by solicitors December 2003

Survey of 303 legal aid solicitors firms found different level of utilisation:
Close to 10% of firms typically achieve fewer than 800 hours. This equates to approximately 3.5 chargeable hours achieved per day, which compares with over 5 chargeable hours achieved per day for firms achieving 1200 hours in total and 8.5 hours per day for those achieving 2000 hours in total.
Page 47
Analysis found that chargeable hours do not appear to be constrained by administration, work-winning capability, and did not find any supply blockages. The firms with potential spare capacity are those most likely to be unwilling to take on more work – these firms are high cost, derive only a
relatively small proportion of their total fee income from publicly funded work and obtain a relatively higher price for their private client work than other firms. Page 50

Develops a mechanical estimation of supply and discusses the different characteristics of firms at different stages along the cost curve, looking at Crime, Family & Other Civil – Pages 50 to 55

2003
International Financial Services London

Legal Services 2011

Profit of top 100 UK law firms was

2011
Office of Fair Trading

Competition in professions

Profits of firm by size (page 47/72 ) – 1994 – 1998.

2001
Journal of economic geography

Financialization and the reorganization of large law firms: practices, vectors and implications

Profits per equity partner increased by 157 percent at the ten largest English corporate law firms between 1993 and 2008 (page 1). Reproduces data from Legal Business on page 39.

2009
International Financial Services London

Legal Services 2009 Data

Range of financial data – Charts 4-6 – including how top 50 law firms have grown profits over the last 10 years

2009
International Financial Services London

Legal Services 2009

Range of financial data – pages 4-6 – including how top 50 law firms have grown profits over the last 10 years

2009
The Law Society

Earnings and work of private practice solicitors in 2007

Reporting on a representative sample of practitioners by diversity, firm size (with 2-10 partners slightly over represented) grade and age. (Pages 8-10).

On average, private practitioners on full-time contracts worked a median average of 45 hours a week and typically billed for 1,440 a year (27.6 hours a week, median). Those on part-time contracts worked a median average of 26 hours a week and typically billed for 871 (16.75 hours a week). On average, therefore, part-time workers billed for 64% of their working hours compared to 61% for full-time workers.
Page 15

2008
Price Waterhouse Coopers

Legal aid funding – current challenges and the opportunities of cooperative federalism

Austrailian study – typical salaries across legal aid, public prosecutor, law firm, in-house (page 41).

2009
Price Waterhouse Coopers

The law firms survey 2008

Reports on 2008 as a year of record results with average fees per partner in the top 10 firms reaching almost

2008
University of Leeds

Financialization by proxy: the case of large City law firms – Daniel Muzio and James Faulconbridge

Top ten UK firms – 2003 to 2006 (page 10). Profits up 72%, profit margins up 12.5.

2009