| Topic Name: |
Is Law School Worth It If Going to Second Tier |
| Message Name: |
here's how it works .... |
| Date Posted: |
05/08/2001 |
| In Reply To: |
"skill" differences??
Something that would justify a higher rate? |
| Message: |
I just got my DBRs for a major client, so I thought I would address the speculation of you law students and let you know how associates are billed out at major law firms.
1. You are billed out at a rate for your class year. Doesn't matter where you went. If your firm bills out 98 grads at 275, then all 98 grads will be billed out at 275 no matter where they went to school.
2. Some specialties may bill out at a higher rate (e.g., patent litigation or tax) or at a lower rate (e.g., labor or insurance defense) for each class year. But within any specialty, the general rule above prevails. That is, lockstep billing rates dependent upon class years.
3. Some people who lateral are forced to give up a class year or two in pay. This may or may not be reflected in the billing rate. But this is effectuated by being designated a lower class year for pay and billing purposes -- i.e., you may be a 97 grad, but you may be paid and billed out as a 98 grad.
4. Once you are not an associate (that is, a partner or an of counsel, there is more flexibility.
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