It helped to know that I am not alone and that there are other like-minded women leaders out there.
Capital Partner | Linebarger Goggan Blair & Sampson
New York, NY
New York, NY
It helped to know that I am not alone and that there are other like-minded women leaders out there.
The Managing Partner Forum is a go-to resource for not only what’s currently important to law firm leaders, but how law firm leaders are dealing with the issue of the moment and preparing for those of the future.
We have enjoyed working with John Remsen and his talented team. The Managing Partner Forum provides excellent content that truly assists in operating a successful business in today’s challenging environment.
The MPF programs always provide relevant, timely educational content. They are high energy and interactive which makes them fun to attend, too.
Great conference, thank you for the invitation.
The information sharing at the MPIEs is especially valuable.
My partner and I really enjoyed the conference and we look forward to attending again next year.
Connecting with other firm leaders, as it felt more like a ‘retreat’ than a ‘conference.’ Fantastic format allowed for great information and advice sharing.
I go to a lot of conferences, and your event is the one I look forward to and gain the most from each year. The power of this group is incredible. So privileged to be a part of it. Thank you for what you do for our industry.
Connecting with other firm leaders, as it felt more like a ‘retreat’ than a ‘conference.’ Fantastic format allowed for great information and advice sharing.
ATL was a great time, and I really enjoyed the conference, as always.
That was my first experience at the conference, and it was tremendously valuable.
Great job! Keep it going. Thank you for the excellent work you do for the profession.
The collegiality and brainstorming opportunities can’t be beat.
The MPF Conference is always a great event. The MPIEs and Workshops were really good this year.
The program topics are timely and well presented. Every time I attend, I learn something new.
MPF is on top of the issues facing firm leaders, often before we even see them coming in our own firms, and provides timely advice from industry experts to see us through them.
I highly recommend the MPF Leadership Conference. I’ve participated many times, as have several of my partners. We leave with new ideas and fresh perspectives every time.
Hands down the best leadership conference for managing partners I’ve ever attended.
This is my 12th or 13th time attending, and it’s always the best conference I attend every year.
The MPIEs are interesting, informative and very useful!
I look forward to this Conference every year. It really helps me to be a more effective firm leader.
MPF provides tremendous value and excellent resources. Great information. Great speakers. Great networking opportunities.
Our popular MPF Webinar Series – “The Law Firm of the Future” – is presented on the third Wednesday of the month to help firm leaders look achieve long-term, proactive, forward-thinking, and strategic approaches to their firms and the business of law. These 60-minute Webinars are complimentary for our readers. The on-demand recordings and handout materials are listed below.
Raising Rates – The Billable Hour Remains King
When asked about their #1 strategy to improve profitability in 2027, 50% of firm leaders said “raising rates.” Better timekeeping practices came in a close second. Looking ahead to 2027 rate increases, 41% of firm leaders are planning increases of 4–6%, while 27% are planning increases of 7% or more. Despite all the discussion surrounding AI and its potential impact on the billable hour, surprisingly few firms are having meaningful conversations with clients about the use of AI on their matters or moving toward value-based pricing models.
Better Timekeeping = More Profit
Timekeeping remains a significant opportunity for many firms. Yet, only 10% of firms require timekeepers to enter their time contemporaneously. Another 28% require daily entry, while 38% allow time to be entered by the end of the week and 24% by the end of the month. The longer lawyers wait to record their time, the more time – and revenue – tends to disappear. For firms that continue to price their services by the billable hour, better timekeeping discipline represents a significant opportunity to improve profitability.
Growing Expenses
On the expense side of the equation, associate salaries are the biggest pain point, cited by 40% of firm leaders. Technology investments followed at 30%, with benefits and health insurance at 17%.
What About AI?
For smaller and midsize law firms, the jury is still out on AI’s impact on profitability. Only one firm leader participating in the webinar reported that AI had “significantly improved” profitability. Meanwhile, 56% reported no impact at all, and another 26% said they weren’t sure. The message? While AI adoption continues to accelerate, its impact on the bottom line has yet to materialize for most firms.
Law Firm Economics 101
Perhaps the biggest takeaway from the session was also one of the simplest: Everyone in the firm needs to understand how the firm makes money. Partners, associates and support staff should understand the basic economics of the business – and, importantly, how their individual behaviors affect the firm’s financial performance. Raising rates is one thing. Capturing time, managing expenses, using technology wisely and holding people accountable are another. Profitability isn’t just a management issue. It’s everyone’s business.
These fast-paced, interactive Webinars are complimentary for our readers. The live programs are presented on the third Wednesday of the month, and we share a link to the on-demand recording and survey/polling results with our readers.
Changes to Compensation Models. 41% of participating firm leaders reported “significant changes” to their firms’ compensation models in the last five years.
Distinct Trends Toward More Objectivity and Transparency. 56% of firms report “more objectivity.” 35% report “more transparency.”
More Performance Based Systems. Most firms heavily weigh “collections” and “origination credit” when measuring and rewarding partner performance.
Origination Credit Ill-Defined. As to origination credit, its weight is increasing in many compensation models. Yet, fewer than 20% of firms have policy around shared origination credit. For most firms, it is a negotiation between the partners involved.
Compensation Committees. 40% smaller and midsize firms report that they have established compensation committees, separate from an Executive/Management Committee.
The “Spread” between High and Low. The average spread between highest and lowest paid Equity Partner ranges in the 3-4 time range.
Socialism Prevails in Many Models. In many firms (31% on our Webinar), “top performers” are undercompensated,, while “underperformers” (69% on our Webinar) are overcompensated.
This was our 64th session in the series. As always, the session was fast-paced and chocked full of current benchmarking information. Registration is complimentary for our readers.
