Economics of Law Practice Survey Results Now Available
October 22, 2020
The full results of the 2020 Economics of Law Practice Survey are now available online.
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
|
Non-Private Practice
|
|
Better
|
38.1%
|
50.1%
|
|
Worse
|
21.2%
|
9.8%
|
|
Same
|
36.9%
|
34.4%
|
When asked about expectations for their future economic circumstances, attorneys responded:
|
|
Private Practice
|
Non-Private Practice
|
|
Better
|
31.7%
|
29.8%
|
|
Worse
|
23.8%
|
20.1%
|
|
Same
|
37.4%
|
50.1%
|
For the 2020 survey, respondents provided income information for 2019, before the COVID-19 pandemic.