Bill Less and Prosper!
With her post Bill Less and Prosper!, Carolyn Elefant should win the award for catchiest headline of 2006. How could you not read what follows? We all want to work less and earn more, don't we? This is right up there with "Eat More, Shed Pounds."
Turns out, her advice is quite simple -- and quite sensible.
All you need, says Elefant, is one nifty tool -- The National Law Journal's recent survey of associate billing rates. How does it work? She explains:
"First, if you're a Boston area solo or small firm competing for business with biglaw, the chart can help you set your rates. For example, if you've got a decade of experience, you don't want to charge much less than $275 an hour, the going rate for a first year at a large firm. And if you set your rates at $350, you can argue that you're worth it, because you've got double the experience of a 5th year who bills at $485."
The comparison works as well for value billing, she says. The point is: How does your worth compare to that of a large firm associate, and what value do you deliver for the price? It is an equation that adds up to Elefant's suggestion that you "take this chart and laminate it, and stick it in your desk drawer for the next time you draw up a fee proposal."
Posted by Robert J. Ambrogi on December 12, 2006 at 05:24 PM | Permalink
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