Submissions to the Financial Benchmarking Survey 2024 closed on Friday 29 September. Firms that took part will receive a free tailored financial report. 

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The survey is written and produced by the legal team at Hazlewoods LLP and sponsored by Lloyds Bank.

It’s widely regarded as the annual financial health check for law firms.

You can use the survey to help monitor your firm’s profitability, control your overheads and inform business planning.

Firms that took part in the survey will receive:

  • a free 16-page tailored report, showing how your firm’s financial performance compares with your competitors
  • a copy of the full survey results
  • an invite to any launch event

The survey takes around 45 minutes to complete. Your answers are strictly confidential.

This survey should have one submission per firm.

How you can use the report

As well as monitoring profitability and control your overheads, you can use the results to inform your discussions on:

  • fees and hourly chargeout rates
  • fee-earner performance
  • review meeting and departmental analysis
  • understanding business trends
  • comparisons to firms outside of local benchmarking networks
  • understanding impact
  • fee-earner and support staff distribution
  • working capital, debtor days and total lock-up numbers
  • budget setting and marketing spend
  • salaries and people costs

See an example of the final report (PDF 962 KB)