Economics of Law Practice Survey results now available
The full results of the 2020 Economics of Law Practice Survey are now available online at www.michbar.org (click on “publications”).
The State Bar of Michigan conducts this important survey every three years to update a comprehensive database that’s used by many courts to determine attorney fees. The survey of Michigan attorneys also helps monitor key trends within the legal profession and can be used to guide practice management decisions.
The 2020 survey showed that the median billing rate for attorneys in private practice is $250 – unchanged from the 2017 survey.
When asked whether attorneys think their economic circumstances are better, worse, or the same compared to three years ago, they responded:
—Private Practice
Better - 38.1%
Worse - 21.2%
Same - 36.9%
—Non-Private Practice
Better - 50.1%
Worse - 9.8%
Same - 34.4%
When asked about expectations for their future economic circumstances, attorneys responded:
—Private Practice
Better - 31.7%
Worse - 23.8%
Same - 37.4%
—Non-Private Practice
Better - 29.8%
Worse - 20.1%
Same - 50.1%
For the 2020 survey, respondents provided income information for 2019, before the COVID-19 pandemic.
State Bar offers tip for pandemic anxiety
For many people, the pandemic—and the accompanying mental and physical exhaustion—has caused them to focus on sadness about things that have occurred in the past or unease related to what the future holds. Both stressing about the past and worrying about what’s to come can take away from enjoyment in the present.
The State Bar of Michigan’s Lawyers and Judges Assistance Program (LJAP) is reminding you to stay grounded and try to remain in the moment. Keep your mind and body connected and working together by using your senses to appreciate the here and now with this simple grounding exercise: after taking a few deep breaths, identify, notice, and experience one thing you currently see, one thing you currently hear, the taste in your mouth, something you can smell, and one thing you can reach out and touch. Be present with yourself and those around you. By staying in the moment, you can help bypass feeling overwhelmed about things out of your control.
LJAP works to help Michigan attorneys achieve wellness. It offers a number of services, including free consultations to legal professionals and their families; clinical assessments; monitoring; referrals to properly trained, credentialed, and effective providers; practicing wellness information; and professional training and educational presentations.
To learn more about LJAP, visit www.michbar.org/generalinfo/ljap/home.
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Subscribe to the Legal News!
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Three-County & Full Pass also available
