Managing Partner, Law Firm Salary
The average salary for a Managing Partner, Law Firm is $156,000 per year. Most people in this job have more than five years' experience in related jobs.
Job Description for Managing Partner, Law Firm
A managing partner for a law firm manages the operations of a law firm and delegates responsibilities to employees within the firm, including attorneys, secretaries, firm executives, and paralegals. They direct the day-to-day business affairs of a law firm, with their scope and reporting relationships varying depending on the size of the firm. Managing partners usual serve as the chief executive officer and develop strategies and goals for the long-term growth for the law firm.Read More...
Managing partner for law firms must have effective verbal and written communication skills and leadership abilities. They must diplomatically make decisions regarding the law firm’s employees. In addition, they must be intimately familiar with the day-to-day duties of the law firm and recommend standing committees for the firm. They must have superior public speaking skills, as they represent the face of the law firm to the media. Managing partner motivate the morale of the law firm and create a positive working environment that encourages teamwork. They also monitor the financial performance of the law firm in terms of bills, revenues, accounts receivable, and expenses. They also make salary recommendations for firm employees.
Most managing partners for law firms have a law degree. They have years of experience in the legal field, and many were former attorneys. Managing partner's working environment is the offices of the law firm. The size of the office can vary greatly, depending on the size of the law firm. Most managing partners work normal business hours, although overtime is often necessary.
Managing Partner, Law Firm Tasks
- Oversee legal staff operations, business planning and budget development.
- Plan and direct the legal services of a law firm.
- Ensure services are in compliance with professional standards, state and federal regulatory requirements.
- Directs the legal staff in effective and efficient use of resources while servicing the client.