This survey was prepared on the basis of in-depth research carried out during March 2018. The results are based on data collected from 16 leading corporate law firms in Moscow. The report was researched by Gwilym Davies of Lexology.
Legal market overview
In 2017 international law firms in Russia faced an existential threat in the shape of the Ministry of Justice’s “Concept for Regulation of Professional Legal Support Market” – a draft document which proposed to prohibit the operations of foreign law firms in Russia. After intense lobbying from international law firms, the proposal has been shelved for now.
Despite continued sanctions and numerous operational challenges, many participant firms remain optimistic about the coming year, with rising gross domestic product (GDP) and a relatively stable rouble cited as indications that the Russia economy has adapted to operating under sanctions.
Compensation and human resources
Average like-for-like salary levels for associates tended to increase during the past year (in US dollars).
Half of the firms surveyed increased fee-earner headcount during the past year, although only 17% saw an increase in support staff headcount.
The net median change in fee-earner headcount among the firms surveyed stood at +3.9% during the past year.
Average like-for-like standard billing rates for associates tended to decrease slightly during the past year (in US dollars).
The average number of billable hours clocked during the past financial year by associates at the firms surveyed stood at 1,272 hours. 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.