More law jobs in New Zealand are on the way if a new bench marking report is correct.
The report has been produced by the Australasian Legal Practice Management Association and carried
out by Crowe Horwath, which predicts a five per cent growth on average in the coming year.
The report indicates that seven out of 10 law firms are anticipating hiring new staff. (See the survey press release here).
Interestingly, the survey also identified the best 10 firms in the country producing an average operating profit of $568,000 per partner with the average revenues generated per fee earner at over $350,000 and over $700,000 per partner.
The survey showed that of the 10 highest performers, the average revenue per partner was $1.017 million and bottom 10 averaging $431,000.
The New Zealand survey placed local firms seven per cent ahead of historic Australian return on capital employed, being “an impressive” 61.46 per cent.
Non-equity partners’ salaries averaged $195,000, the report showed.
The median work in progress (WIP) and debtor-days lockup amongst all firms surveyed is 86.36 days
consisting of:
WIP days of 24.95
debtors days of 59.52
Check below for the full report, or the press releases from
The download link to the report is here (registration required)
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