Wisnik Career Enterprises, Inc. wisnik.com

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1 Wisnik Career Enterprises, Inc. wisnik.com

2 Dear Friends of Wisnik, Our goal in sharing this information with you is to offer benchmarks for where you, your staff, and your department fall as compared to your peers. We wanted to share the current findings from the 2018 Wisnik Law Firm Marketing/BD Survey with you. This is our 11 th BD/Marketing survey since The following information is based on a survey sent to all levels of legal Marketing and BD professionals at top law firms across the nation in July The results that follow were generated from 377 responses. Thank you to all of those who participated! Our goal in sharing this information with you is to offer benchmarks for where you, your staff, and your department fall as compared to your peers. We believe that these salary and bonus numbers reflect the current market accurately. By this, I mean that if a firm were to call tomorrow and ask us what they needed to pay a BD manager, we would confidently quote them the numbers in this report. We have found that the new jobs we have received since January fall into these ranges. We hope that you find the enclosed information valuable. Your responses to this Wisnik Law Firm Marketing/BD Survey help us to capture and confirm market trends. As for the market, we have definitely seen a continued increase in new law firm Marketing/BD positions throughout the year and are hopeful that new opportunities will continue to grow. Please let us know if there is any way we can help you achieve your goals. All the best, Eva Wisnik 2

Biography Eva Wisnik founded Wisnik Career Enterprises, Inc. in 1996 after serving as Director of Recruitment and Training for Schulte Roth & Zabel and Cadwalader, Wickersham & Taft.

3 Biography Eva Wisnik founded Wisnik Career Enterprises, Inc. in 1996 after serving as Director of Recruitment and Training for Schulte Roth & Zabel and Cadwalader, Wickersham & Taft. Over the past 22 years, she has worked with over 100 law firms, including 86 of the AmLaw 100. Eva has placed over 800 Marketing and BD professionals into law firms nationwide, and has conducted over 625 training programs for attorneys on topics that include Business Development Skills, Time Management and Myers Briggs. In addition, Wisnik Career Enterprises, Inc. has conducted over 50 salary surveys for law firm professionals since Eva Wisnik President Wisnik Career Enterprises, Inc. Eva holds an MBA in Marketing from Fordham University and a BA in Psychology from Barnard College. 3

4 Table of Contents Profile of Marketing/BD Professional Slide 7 Wisnik Salary Findings Slide 11 Industry Findings: Firm Structure & Staffing Slide 20 Salary Breakdown by Position and Firm Size Slide 28 Responsibilities of a Marketing/BD Professional Slide 35 4

5 Participant Response Breakdown Total of 377 marketing professionals salary and industry information by: Position Chief: 43 Director: 71 Senior Manager: 41 Manager: 151 Specialist/Analyst/ Sr. Coordinator: 47 Coordinator: 21 Assistant: 3 Location Chicago: 35 DC: 55 NY/NJ: 179 Bay Area: 23 *Regional: 85 (*Atlanta, Boston, Denver, Detroit, LA Area, Philadelphia, St. Louis, Texas) Firm Size 1-250: : : ,000: 76 1,001+: 128 5

6 All Respondents: Summary of Interesting Survey Results 6.2 years CMO average tenure 5.2 years Director average tenure 97.3% Received either a bonus, 33.7% raise or both last year 5.3% 66.3% Joined Marketing/BD in the last 2 years Have been in Marketing/BD for more than 8 years promoted with a title change in the last 2 years 6

7 Profile of Marketing/BD Professional 7

8 2018 Highest Degree of Education by Job Title Overall BS/BA 62% JD 13% Doctoral 1% MA/MBA 23% JD 19% Chief Doctoral 3% MA/MBA 25% Other 5% Manager BS/BA 51% Director JD 13% BS/BA 56% MA/MBA 27% Other 5% Other 1% Specialist/Sr. Coordinator Sr. Manager MA/MBA 28% JD 15% BS/BA 52% Coordinator Other 2% BS/BA 61% JD 14% MA/MB A 24% JD 4% MA/MBA 15% BS/BA 81% BS/BA 86% Other 1% MA/MBA 9% JD 5% 8

2018 Highest Degree of Education by City

9 2018 Highest Degree of Education by City NY/NJ Regional Other 2% Bay Area MA/MBA 23% JD 15% BS/BA 61% MA/MBA 26% JD 11% BS/BA 61% MA/MBA 17% JD 11% BS/BA 65% Doctoral 1% JD 7% MA/MBA 20% DC BS/BA 73% Other 3% MA/MBA 26% JD 14% Chicago BS/BA 57% 9

10 Law Firm Marketing / BD Professionals: Years of Experience Average Years of Experience 30 Avg. Years at Current Firm Avg. Years Legal Mar/BD Total Years of Experience Assistant Coordinator Spec./Analyst/ Sr. Coord. Manager Sr. Manager Director Chief 10

11 Wisnik Salary Findings 11

12 All Respondents: 2018 Average Salaries, By Title Title (# responses with salary data) Average Salary Median 25-75% Range Average Bonus Average Raise Chief (43): $366,023 $340,000 $242k - $440k $61, % Director (71): $218,224 $210,000 $178.5k - $260k $26, % Sr. Manager (41): $169,483 $167,250 $150k - $190k $12, % Manager (150): $138,885 $136,750 $120k - $155k $9, % Specialist/Analyst Sr. Coord. (47): $87,862 $88,280 $77k - $95k $4, % Coordinator (20): $59,260 $57,000 $51.5k - $70k $3, % Assistant (3): $48,333 $49,000 $47.5k - $49.5k $1, % 12

13 Average Salaries by City: NY/NJ, DC, Bay Area, Chicago, Regional Title (# responses with salary data) NY/NJ DC Bay Area Chicago Regional Chief (43): $403,000 $451,429 $362,500 $374,400 $281,214 Director (71): $246,940 $213,000 $242,300 $182,850 $174,250 Sr. Manager (41): $183,373 $163,943 $165,000 $156,667 $141,500 Manager (150): $147,804 $137,796 $148,750 $135,967 $118,282 Specialist/Analyst Sr. Coord. (47): $90,434 $87,754 $ $80,930 $80,400 Coordinator (20): $70,643 $47,000 $56,500 $60,250 $47,950 Assistant (3): $49,500 $46,

14 Years of Experience Salaries (in Thousands) Average Salary vs. Average Years of Experience Years of Legal Marketing Experience Years of Total Work Experience Average Salary (in thousands) $ $400 $ $ $ $ $ Asst. Coord. Spec./ Analyst/Sr. Coord. $ Manager $ Sr. Manager $ Director 15.7 Chief $250 $200 $150 $100 $50 $0 14

15 Did You Get a Bonus or a Raise? Chief Director Sr. Manager Bonus 3% Raise 12% Both 85% Manager Raise 6% Bonus 7% Neither 1% Both 86% Specialist/Sr. Coordinator Both 85% Coordinator Bonus 10% Raise 5% Raise 9% Bonus 5% Neither 2% Both 84% Raise 2% Neither 2% Bonus 11% Both 85% Both 57% Neither 19% Raise 19% Bonus 5% 15

16 Are You Satisfied with Your Compensation? Chief Director Sr. Manager NO 21% YES 79% NO 32% YES 68% NO 37% YES 63% Manager Specialist/ Sr. Coordinator Coordinator NO 34% YES 66% NO 49% YES 51% NO 57% YES 43% 16

17 By City: Are You Satisfied with Your Compensation? NY/NJ Regional Bay Area NO 31% YES 69% NO 46% YES 54% NO 68% YES 32% DC Chicago NO 24% YES 76% NO 34% YES 66% 17

18 In the Past 2 Years, Have You Had a Promotion with a Title Change? Chief Director Sr. Manager NO 77% YES 23% NO 72% YES 28% NO 27% YES 73% Manager Specialist/Sr. Coordinator Coordinator NO 75% YES 25% NO 57% YES 43% NO 52% YES 48% 18

Salary (in thousands) Mar/BD Professionals (NY, DC, Chicago): Average Salary Comparisons, 2014-2018 2014 2016 2018 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 $46 Salary Percent Change from

19 Salary (in thousands) Mar/BD Professionals (NY, DC, Chicago): Average Salary Comparisons, $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 $46 Salary Percent Change from : Assistants: +4.3% Coordinators: -1.7% Spec./Analyst/Sr. Coord.: +7.3% Managers: +5.3% Senior Managers: - 3.4% Directors: -5.2% Chiefs: +12.6% $60 $58 $46 $48 $59 Assistant $82 $88 $80 Coordinator Spec./Analyst/ Sr. Coord. $134 $139 $132 * $405 $230 $218 $218 $176 $170 Manager Senior Manager Director Chief $325 $366 * = Insufficient data for 2014 Senior Manager 19

20 Industry Findings: Firm Structure & Staffing 20

Average Department Size Size of Firm vs. Size of Marketing Department 120 100 80 Separate or Combined Departments? Overall, 78.

21 Average Department Size Size of Firm vs. Size of Marketing Department Separate or Combined Departments? Overall, 78.9% of respondents say they have combined Marketing/Communications and BD departments Firm Size 21

In the Past 2 Years, Has Your Department Size

Manager Increased 67% Increased 53% Increased

Decreased 5% No Change 34% Manager Increased

22 In the Past 2 Years, Has Your Department Size Changed? Chief Director Sr. Manager Increased 67% Increased 53% Increased 61% No Change 33% Decreased 10% No Change 37% Decreased 5% No Change 34% Manager Increased 47% Specialist/Sr. Coordinator Coordinator Decreased 12% Increased Increased 40% 65% Decreased 18% No Change 35% No Change 23% Decreased 15% No Change 45% 22

23 Department Size Changes: City Comparison Overall Regional Bay Area Increased 54% Increased 54% Increased 35% Decreased 12% NY/NJ No Change 34% Decreased 14% DC No Change 32% No Change 61% Chicago Decreased 4% Decreased 15% Increased 54% No Change 31% Decreased 12% No Change 28% Increased 60% Decreased 9% Increased 48.5% No Change 42.5% 23

24 Do You Think Your Department is Adequately Staffed? All Respondents 0% No 53% Yes 47% 24

25 Average Weekly Hours Average Hours Worked Per Week, Since Jan. 1, 2018: By Title Asst. Coord. Spec./Analyst/ Sr. Coord. Manager Sr. Manager Director Chief 25

26 Average Weekly Hours Average Hours Worked Per Week, Since January 1, 2018: By City NY/NJ Regional SF/Bay Area DC Chicago 26

27 Percentage of Respondents Who Does Marketing/BD Department Report To? 40% 35% 31.9% 30% 28.1% 24.6% 25% 20% 15% 14.3% 10% 5% 5.6% 4.1% 2.6% 0% * Departments may report to more than one entity 27

28 Salary Breakdown by Position and Firm Size 28

29 Average Salary, Bonus, & Raise by Firm Size All Chiefs = 43 Avg. Salary = $366,023 Median Salary = $340,000 Avg. Bonus: $61,973 Avg. Raise: 5.7% Avg. Years of Legal Mar/BD Experience: 15.7 Avg. Tenure at Current Firm: 6.2 years Firm Size: Average Salary: $232,385 $325,625 $454,125 $390,000 $578,000 Median: $225,000 $335,000 $460,000 $400,000 $700,000 Average Bonus: $21,669 $52,571 $65,625 $68,347 $110,000 Average Raise: 4.6% 4.2% 5.6% 10.0% 3.8% 29

30 Average Salary, Bonus, & Raise by Firm Size All Directors = 71 Avg. Salary = $218,224 Median Salary = $210,000 Avg. Bonus: $26,992 Avg. Raise: 5.1% Avg. Years of Legal Mar/BD Experience: 14.1 Avg. Tenure at Current Firm: 5.2 years Firm Size: Average Salary: $196,424 $245,556 $233,667 $198,781 $240,869 Median: $190,000 $142,000 $210,000 $202,500 $250,000 Average Bonus: $24,647 $16,625 $26,833 $32,792 $69,474 Average Raise: 3.5% 4.7% 5.9% 3.6% 7.6% 30

31 Average Salary, Bonus, & Raise by Firm Size All Senior Managers = 41 Avg. Salary = $169,483 Median Salary = $167,250 Avg. Bonus: $12,028 Avg. Raise: 6.2% Avg. Years of Legal Mar/BD Experience: 10.8 Avg. Tenure at Current Firm: 5.2 years Firm Size: Average Salary: $151,920 $173,857 $174,578 $175,938 Median: $142,000 $170,000 $190,000 $167,500 Average Bonus: $5,000 $9,286 $11,500 $15,714 Average Raise: 12.1% 4.0% 6.5% 5.5% 31

32 Average Salary, Bonus, & Raise by Firm Size All Managers = 150 Avg. Salary = $138,885 Median Salary = $136,750 Avg. Bonus: $9,463 Avg. Raise: 5.4% Avg. Years of Legal Mar/BD Experience: 9.8 Avg. Tenure at Current Firm: 4.7 years Firm Size: Average Salary: $121,673 $125,952 $144,431 $147,317 $140,204 Median: $128,000 $125,000 $147,500 $147,500 $140,000 Average Bonus: $7,750 $8,229 $8,887 $10,661 $9,388 Average Raise: 7.6% 5.8% 4.7% 6.4% 4.5% 32

33 Average Salary, Bonus, & Raise by Firm Size All Specialists/Analysts/Sr. Coord. = 47 Avg. Salary = $87,862 Median Salary = $88,280 Avg. Bonus: $4,744 Avg. Raise: 5.6% Avg. Years of Legal Mar/BD Experience: 5.3 Avg. Tenure at Current Firm: 2.8 years Firm Size: Average Salary: $85,400 $92,917 $91,328 $84,612 Median: $86,000 $91,750 $95,000 $81,000 Average Bonus: $4,250 $3,167 $6,206 $4,234 Average Raise: 6.4% 7.5% 4.5% 4.9% 33

34 Average Salary, Bonus, & Raise by Firm Size All Coordinators= 20 Avg. Salary = $59,260 Median Salary = $57,000 Avg. Bonus: $3,027 Avg. Raise: 4.3% Avg. Years of Legal Mar/BD Experience: 3.1 Avg. Tenure at Current Firm: 2.5 years Firm Size: Average Salary: $54,760 $52,280 $63,143 Median: $57,000 $51,700 $57,000 Average Bonus: $2,475 $2,625 $3,703 Average Raise: 7.0% 3.4% 3.5% 34

35 Responsibilities of a Marketing/BD Professional 35

36 Percentage (%) of Chiefs Chiefs: Responsibilities and the Future 93.0% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Submissions 4% Tech 6% Other 9% BD 25% An important career driver for me is: 44.2% Events 7% % CI 6% PR 11% CRM 14% Mar/Comm. 18% More $$ 11.6% Increased Responsibility Career Growth 16.3% Other 36

Percentage (%) of Chiefs Directors: Responsibilities and the Future 92.8% say they plan to be in legal Marketing/BD in two years Where do you spend your time?

37 Percentage (%) of Chiefs Directors: Responsibilities and the Future 92.8% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Tech 6% Submissions 7% Other 8% BD 22% An important career driver for me is: 32.9% 43.5% Events 8% CI 5% PR 9% CRM 17% Mar/Comm. 18% More $$ 17.6% Increased Responsibility Career Growth 5.9% Other 37

Percentage (%) of Chiefs Sr. Managers: Responsibilities and the Future 92.5% say they plan to be in legal Marketing/BD in two years Where do you spend your time?

38 Percentage (%) of Chiefs Sr. Managers: Responsibilities and the Future 92.5% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Submissions 8% Tech 8% Other 4% BD 25% An important career driver for me is: 33.8% 38.2% 25 Events 17% Mar/Comm. 17% % 13.2% CI 8% PR 5% CRM 8% 5 0 More $$ Increased Responsibility Career Growth Other 38

Tech 3% Other 4% 45 An important career driver for me is: Submissions 9% BD 28% 40 35 30 37.

39 Percentage (%) of Chiefs Managers: Responsibilities and the Future 83.9% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Tech 3% Other 4% 45 An important career driver for me is: Submissions 9% BD 28% % 37.2% Events 17% % 15 CI 5% PR 5% CRM 7% Mar/Comm. 22% More $$ Increased Responsibility Career Growth 7.5% Other 39

Percentage (%) of Chiefs Specialists/Sr.

Events 17% Tech 2% Submissions 10% Other 2% BD 26% 45 40 35 30 25

40 Percentage (%) of Chiefs Specialists/Sr. Coord: Responsibilities and the Future 83.0% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Events 17% Tech 2% Submissions 10% Other 2% BD 26% An important career driver for me is: 38.6% 39.8% 15.7% CI 8% PR 3% CRM 12% Mar/Comm. 20% More $$ Increased Responsibility Career Growth 6.0% Other 40

Percentage (%) of Chiefs Coordinators: Responsibilities and the

Other 1% Submissions 7% Events 22% Tech 6% BD 18% Mar/Comm.

41 Percentage (%) of Chiefs Coordinators: Responsibilities and the Future 57.1% say they plan to be in legal Marketing/BD in two years Where do you spend your time? Other 1% Submissions 7% Events 22% Tech 6% BD 18% Mar/Comm. 31% An important career driver for me is: 34.4% 28.1% 25.0% 12.5% CI 3% PR 3% CRM 9% 0 More $$ Increased Responsibility Career Growth Other 41

42 Wisnik Career Enterprises, Inc. wisnik.com

2016 Senior Administrative Leaders Compensation & Staffing Report

www.pwc.com/lfsurveys 2016 Senior Administrative Leaders Compensation & Staffing Report Issued: May 2016 Senior Administrative Leaders Compensation & Staffing Report Issued: May 2016 Confidential This