This survey was prepared on the basis of in-depth research carried out during December 2017 and January 2018. The results are based on data collected from 12 of the leading law firms in Bucharest. The report was researched by Gwilym Davies of Lexology.
The Romanian economy continues to grow quickly, with its current annualised gross domestic product (GDP) growth rate of 8.8% the highest in mainland Europe.
Despite healthy macroeconomic figures, Romania remains hamstrung by a volatile political landscape and its seemingly endless struggle to overcome corruption at all levels of government.
Significant changes to the Romanian Tax Code were implemented on January 1 2018, which include a shift in the burden of social charges from employer to employee and a change in income tax rates.
Compensation and human resources
Over the past year, average levels of compensation for like-for-like levels of associate seniority tended to increase slightly among the total sample of firms surveyed.
Average like-for-like standard billing rates for associates tended to increase during the past year.
The average realisation rate recorded during the last financial year among the firms surveyed stands at 87%.
The average billable hour target for associates among the firms surveyed stands at 1,276 hours a year. Law firms that participate in our confidential research surveys are eligible for a 40%+ discount on the price of this report. For details on how to participate and purchase at a discounted price, and for pricing of customised multi-country report packages contact Gwilym Davies at gdavies@GlobeBMG.com or on +44 (0) 20 7940 6858.