Home

Report: Varied Billing Rates Could Provide Bargaining Chip
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A report set to be released this Fall could give general counsel an “enormous amount of bargaining power” in their billing rate negotiations with law firms, the Corporate Counsel reports.

The “Real Rate Report” by CT TyMetrix and The Corporate Executive Board shows firms’ charge a wide range of rates to different clients for nearly identical work. While that fact certainly comes as no surprise, as Corporate Counsel duly notes, the wide range of prices that were actually charged could give clients a “powerful” bargaining chip in billing rates.

“It will give general counsel an enormous amount of bargaining power,” Julie Peck, vice president of corporate strategy and market development at CT TyMetrixPeck, told Corporate Counsel in a report reprinted at Law.com.

  
What
Where


“What that tells you is that there’s a significant amount of pricing elasticity in the market, and that negotiations can be very powerful.”

The report, based on an analysis of $4 billion in law firm billings, is slated for a September release. It surveys billable hours for 3,448 partners, associates and paralegals and finds that more than 75 percent charged different hourly rates for similar work. Corporate Counsel reports the largest rate differences of between $350 an hour to $1,000 a single person charges did open some eyes.

Other findings in the report show that while law firm partners charged corporate clients up to $1,590 an hour in 2009, the median partner rate of $340 an hour “is significantly lower than reported” in most other surveys.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Paralegal / Legal Assistant

USA-NY-Staten Island

STATEN ISLAND PLAINTIFFS PERSONAL INJURY LAW FIRM IS SEEKING A FULL TIME/PART TIME PARALEGAL/LE...

Apply now

Attorney

USA-WA-Walla Walla

When the COVID crisis hit our state, we continued serving clients in our community. We are...

Apply now

Associate Attorney

USA-FL-Orlando

A/V Rated Downtown Orlando Law firm of Fisher Rushmer, P.A. is seeking an associate with 2 - 6 years...

Apply now

Legal Extern / Litigation Law Clerk

USA-VA-Alexandria

Old Towne Associates, P.C. (Alexandria, VA) Legal Extern Openings - Class of 2021 and 2022 ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mergers and Acquisitions Associate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search top ranked law firm seeks Mergers and Acquisitions Associa...

Apply Now

Senior Wealth Management Group Associate Attorney

USA-CA-San Diego

San Diego office of our client seeks Senior Wealth Management Group Associate Attorney with 9 years ...

Apply Now

Bankruptcy Associate Attorney

USA-CA-Los Angeles

Los Angeles office of a BCG Attorney Search top ranked law firm seeks Bankruptcy Associate Attorney ...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top