How to prepare a legal department budget
What goes into the legal department budget
To start, you must account for all the different items that make up the budget. If you forget something, you can end up with some costly holes. Consider the following:
- Salaries & benefits – that is, salaries, benefits, bonuses, 401k match, and anything else that goes into the “fully loaded” cost of each employee in the department.
- Allocations – this accounts for the legal department’s share of rent, utilities, technology, copiers, phones, and any other operational costs that are spread among the different business units and staff groups.
