As a member of the Pricing Team, the Sr. Pricing Analyst will support the Firm’s attorneys through the development of pricing arrangements and client budgets. The Sr. Pricing Analyst will also assist in the design of analytical tools and reporting systems to support the development of alternative fee arrangements, monitor performance against budgets, and assess the financial impact of pricing arrangements.
Responsibilities- Develop financial models and analytics in support of pricing proposals
- Compile and analyze data and historical statistics relating to revenue, realization, and profitability
- Provide support to partners for pricing requests, including preparation of fee estimates, development of appropriate pricing approaches and the communication of fees and value pricing
- Work with different management groups and attorneys within the firm, utilizing tools and analytics to guide rates and pricing strategy to maximize profitable growth
- Provide ad-hoc training to attorneys on the critical elements of maximizing profitability and return on alternative fee arrangements
- Contribute to the innovative creation of matter budgets in collaboration with the management team
- Assist with the development and reporting of internal department metrics to highlight the impact the Pricing Department has on the firm
- Develop and maintain pricing databases using historic data mined from past matters which can be used to create more accurate fee estimates for partners during client pitches
- Create and document best practices as they relate to pricing and profitability
- Work effectively with others on the Revenue and Finance Teams to determine best ways to extract relevant financial data to analyze in relation to pricing and financial analysis
- Review outside counsel guidelines for new matters to ensure proper tracking and setup
- Minimum 3 years of in-depth knowledge of pricing and budgeting experience, with minimum 5 years of law firm experience
- 5+ years post Bachelor's Degree required in an analytical environment (i.e., accounting, finance, economics) from an accredited college or university or equivalent experience
- Exposure to pricing decisions and fee negotiations a plus
- Experience with law firm technology including 3E and Iridium
- Experience with Business Intelligence software applications (e.g., PowerBI, Tableau)
- Experience with alternative pricing structuring, portfolio management, and financial engineering/modelling
- A solid understanding of the life cycle of litigation, dispute, or arbitration engagements and the potential associated costs; other practice areas a plus.
- Experience constructing complex models, financial analyses, and reports using Excel, Access, and other relational-database systems
- Effectively communicate with a wide variety of personnel and personalities including partners, business development professionals and accounting staff
- Strong analytical, evaluative, and critical thinking skills
- Demonstrate ability to be flexible and to adapt quickly to change in a high pressure, deadline-driven environment
- Ability to work independently as well as in a team environment, including an ability to work across geographical borders
- Ability to work on multiple assignments and proven experience in prioritizing work
- Demonstrated agility within diverse cultural and business environments, using various communications methods to influence and lead others
- Demonstrated ability to apply learning in fast-paced business situations
Compensation: The anticipated base salary range offered for this role will be between $115,000 to $125,000 and represents the firm’s good faith and reasonable estimate of the base compensation range. Actual base compensation will be dependent upon several factors, including but not limited to the candidate’s relevant experience, performance, qualifications, degrees, and location, as well as the needs of the firm.
Skills Required
- At least 3 years of in-depth pricing and budgeting experience
- At least 5 years of law firm experience
- At least 5 years of post-bachelor’s experience in an analytical environment such as accounting, finance, or economics, or equivalent experience
- Experience with law firm technology, including 3E and Iridium
- Experience with business intelligence software such as Power BI or Tableau
- Experience with alternative pricing structures, portfolio management, and financial modeling or engineering
- Understanding of the life cycle and costs of litigation, dispute, or arbitration engagements
- Experience constructing complex models, financial analyses, and reports using Excel, Access, and relational database systems
- Strong analytical, evaluative, and critical-thinking skills
- Effective communication with partners, business development professionals, accounting staff, and diverse personnel
- Ability to adapt quickly in a high-pressure, deadline-driven environment
- Ability to work independently and collaboratively across geographical borders
- Ability to prioritize multiple assignments
- Ability to influence and lead others across diverse cultural and business environments
- Exposure to pricing decisions and fee negotiations
- Experience in additional law firm practice areas beyond litigation, disputes, or arbitration
What We Do
Milbank is a premier international law firm handling high-profile, complex cases and business transactions through 12 offices worldwide. Our offices work together on an integrated basis, giving us an extraordinary global presence and allowing us to serve a client base that includes the world's leading companies and financial institutions. Milbank is internationally recognized as a leader in major corporate/finance transactions (such as M&A, structured finance, banking, capital markets and project and transportation finance), litigation (including complex commercial, intellectual property, securities and white collar), financial restructuring, and trusts and estates.
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