Law Practice Management Asked and Answered Blog

Category: Law firm revenue benchmarks

Aug 27, 2013

Benchmark for Law Firm Revenue


I have recently been hired as our firm's first firm administrator. We are an insurance defense firm with 14 attorneys located in Memphis. This is my first law firm. Previously I managed a mid-size CPA firm in the area. I am interested in your thoughts concerning law firm revenue benchmarks.


Surveys vary. However, national averages for all firm – types – sizes, etc. tend to be around $385,000 per lawyer. I have firms averaging $250,000 to $550,000 and up. So it varies by location, type of practice, size of firm, etc. However, I believe that $300,000 per year per lawyer should be considered a realistic goal for all firms, all sizes, all practice areas, and all locations. For some firm this might be a stretch – but I believe it to be an attainable goal.

Click here for our blog on financial management

Click here for articles on other topics

John W. Olmstead, MBA, Ph.D, CMC

    Subscribe to our Blog