Enviar pesquisa
Carregar
2010 Billing Rates Survey
•
1 gostou
•
230 visualizações
G
guest24d827e
Seguir
Altman Weil 2010 Billing Rate Survey
Leia menos
Leia mais
Educação
Carreiras
Denunciar
Compartilhar
Denunciar
Compartilhar
1 de 16
Baixar agora
Baixar para ler offline
Recomendados
WC Survey July 2014.pdf
WC Survey July 2014.pdf
Michael Naumann
Yield factbook champions preview
Yield factbook champions preview
Dividend Yield
Excel Model for Banking
Excel Model for Banking
Flevy.com Best Practices
Augmented Reality 4.3
Augmented Reality 4.3
Sjoerd Koolen
Nicolae Iorga3
Nicolae Iorga3
guestb67fe
Sabías Qué
Sabías Qué
renanvadillo
Augmentedreality4 4
Augmentedreality4 4
Sjoerd Koolen
Primer trimestre
Primer trimestre
Maria Isabel Rodriguez
Recomendados
WC Survey July 2014.pdf
WC Survey July 2014.pdf
Michael Naumann
Yield factbook champions preview
Yield factbook champions preview
Dividend Yield
Excel Model for Banking
Excel Model for Banking
Flevy.com Best Practices
Augmented Reality 4.3
Augmented Reality 4.3
Sjoerd Koolen
Nicolae Iorga3
Nicolae Iorga3
guestb67fe
Sabías Qué
Sabías Qué
renanvadillo
Augmentedreality4 4
Augmentedreality4 4
Sjoerd Koolen
Primer trimestre
Primer trimestre
Maria Isabel Rodriguez
Devika Ias
Devika Ias
guest1f06ee
Контейнеры для сбора люминесцентных ламп и химических источников тока
Контейнеры для сбора люминесцентных ламп и химических источников тока
Danil Antonov
Pauvreté et droits humains en Europe
Pauvreté et droits humains en Europe
Louis Lepioufle
Lezing NAAR de Top
Lezing NAAR de Top
RonaldNaar
Desde el cielo frances
Desde el cielo frances
elcuetodelmoro
Lezing Vijf Elementen
Lezing Vijf Elementen
RonaldNaar
Coworking Europe 2010 - Survey
Coworking Europe 2010 - Survey
ACTIPOLE21
Company Analysis Of Blue Star
Company Analysis Of Blue Star
guest1f06ee
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
Claudio Cossio
User Growth for your App - PhoneGap Day Europe 2015
User Growth for your App - PhoneGap Day Europe 2015
Claudio Cossio
Primavera
Primavera
elcuetodelmoro
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
Claudio Cossio
Customer Discovery - Launchpad Week CDMX Fintech 2016
Customer Discovery - Launchpad Week CDMX Fintech 2016
Claudio Cossio
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
Claudio Cossio
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
Claudio Cossio
2012 Connell & Partners Fall Pulse Survey Participant Report
2012 Connell & Partners Fall Pulse Survey Participant Report
Connell & Partners
Benchmarks in Thought Leader Management
Benchmarks in Thought Leader Management
Robert Nauman
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
ExhibitRecruiter
MACE Compensation & Benefits Results - Iowa
MACE Compensation & Benefits Results - Iowa
iowachamberexecs
Parcel Forum 2011
Parcel Forum 2011
Jerry Hempstead, B.A., M.A.,DLP
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Alinean, Inc.
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Alinean, Inc.
Mais conteúdo relacionado
Destaque
Devika Ias
Devika Ias
guest1f06ee
Контейнеры для сбора люминесцентных ламп и химических источников тока
Контейнеры для сбора люминесцентных ламп и химических источников тока
Danil Antonov
Pauvreté et droits humains en Europe
Pauvreté et droits humains en Europe
Louis Lepioufle
Lezing NAAR de Top
Lezing NAAR de Top
RonaldNaar
Desde el cielo frances
Desde el cielo frances
elcuetodelmoro
Lezing Vijf Elementen
Lezing Vijf Elementen
RonaldNaar
Coworking Europe 2010 - Survey
Coworking Europe 2010 - Survey
ACTIPOLE21
Company Analysis Of Blue Star
Company Analysis Of Blue Star
guest1f06ee
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
Claudio Cossio
User Growth for your App - PhoneGap Day Europe 2015
User Growth for your App - PhoneGap Day Europe 2015
Claudio Cossio
Primavera
Primavera
elcuetodelmoro
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
Claudio Cossio
Customer Discovery - Launchpad Week CDMX Fintech 2016
Customer Discovery - Launchpad Week CDMX Fintech 2016
Claudio Cossio
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
Claudio Cossio
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
Claudio Cossio
Destaque
(15)
Devika Ias
Devika Ias
Контейнеры для сбора люминесцентных ламп и химических источников тока
Контейнеры для сбора люминесцентных ламп и химических источников тока
Pauvreté et droits humains en Europe
Pauvreté et droits humains en Europe
Lezing NAAR de Top
Lezing NAAR de Top
Desde el cielo frances
Desde el cielo frances
Lezing Vijf Elementen
Lezing Vijf Elementen
Coworking Europe 2010 - Survey
Coworking Europe 2010 - Survey
Company Analysis Of Blue Star
Company Analysis Of Blue Star
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
Nueva Generación de Emprendedores - Start-Apps y la economia de la movilidad
User Growth for your App - PhoneGap Day Europe 2015
User Growth for your App - PhoneGap Day Europe 2015
Primavera
Primavera
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
UX Trends for Startups leveraging Voice & Text - Phonegap Meetup - 4YFN - MWC
Customer Discovery - Launchpad Week CDMX Fintech 2016
Customer Discovery - Launchpad Week CDMX Fintech 2016
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
Cultura, comunidad y desarrollo de productos - Campus Night - Abril 2016
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
From idea to ux roadmap - MakeIt Masterclass - Boost User Experience
Semelhante a 2010 Billing Rates Survey
2012 Connell & Partners Fall Pulse Survey Participant Report
2012 Connell & Partners Fall Pulse Survey Participant Report
Connell & Partners
Benchmarks in Thought Leader Management
Benchmarks in Thought Leader Management
Robert Nauman
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
ExhibitRecruiter
MACE Compensation & Benefits Results - Iowa
MACE Compensation & Benefits Results - Iowa
iowachamberexecs
Parcel Forum 2011
Parcel Forum 2011
Jerry Hempstead, B.A., M.A.,DLP
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Alinean, Inc.
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Alinean, Inc.
IACCM Top Companies In Negotiation 2009
IACCM Top Companies In Negotiation 2009
Jon Hansen
Benchmarking Best Practices - ProAction Group
Benchmarking Best Practices - ProAction Group
The Proaction Group
Deloitte 2011 technology fast 500™
Deloitte 2011 technology fast 500™
Jen Landsberg
Survey pre employment drug screening 2010
Survey pre employment drug screening 2010
The Business Connection
SecureNow Employee Benefit (Group Health) Survey Sample Report
SecureNow Employee Benefit (Group Health) Survey Sample Report
SecureNow Insurance Broker Private Limited
Larry Dowell - Insights from the 2012 MACE Compensation & Benefits Survey
Larry Dowell - Insights from the 2012 MACE Compensation & Benefits Survey
Dowell Management
August 2010 Presentation
August 2010 Presentation
Intact
Financial Times -2010 Fund Image Summary Of Findings
Financial Times -2010 Fund Image Summary Of Findings
Daniel Rothman
Financial Times 2010 Fund Image summary of findings
Financial Times 2010 Fund Image summary of findings
Daniel Rothman
11.the impact of interest rate on profit among the united arab emirates uae s...
11.the impact of interest rate on profit among the united arab emirates uae s...
Alexander Decker
2012 TLC_Manuf_Dist_A&D
2012 TLC_Manuf_Dist_A&D
Tiffany Rudak Shaffer
Burns-Fazzi, Brock Executive Benefit Focus (Newsletter) - Winter 2011
Burns-Fazzi, Brock Executive Benefit Focus (Newsletter) - Winter 2011
NAFCU Services Corporation
Best Practices to Grow Service Contract Sales Webinar by Mize
Best Practices to Grow Service Contract Sales Webinar by Mize
Mize Inc.
Semelhante a 2010 Billing Rates Survey
(20)
2012 Connell & Partners Fall Pulse Survey Participant Report
2012 Connell & Partners Fall Pulse Survey Participant Report
Benchmarks in Thought Leader Management
Benchmarks in Thought Leader Management
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
Results Observations from ExhibitRecruiter's 2011 Compensation Survey
MACE Compensation & Benefits Results - Iowa
MACE Compensation & Benefits Results - Iowa
Parcel Forum 2011
Parcel Forum 2011
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
IACCM Top Companies In Negotiation 2009
IACCM Top Companies In Negotiation 2009
Benchmarking Best Practices - ProAction Group
Benchmarking Best Practices - ProAction Group
Deloitte 2011 technology fast 500™
Deloitte 2011 technology fast 500™
Survey pre employment drug screening 2010
Survey pre employment drug screening 2010
SecureNow Employee Benefit (Group Health) Survey Sample Report
SecureNow Employee Benefit (Group Health) Survey Sample Report
Larry Dowell - Insights from the 2012 MACE Compensation & Benefits Survey
Larry Dowell - Insights from the 2012 MACE Compensation & Benefits Survey
August 2010 Presentation
August 2010 Presentation
Financial Times -2010 Fund Image Summary Of Findings
Financial Times -2010 Fund Image Summary Of Findings
Financial Times 2010 Fund Image summary of findings
Financial Times 2010 Fund Image summary of findings
11.the impact of interest rate on profit among the united arab emirates uae s...
11.the impact of interest rate on profit among the united arab emirates uae s...
2012 TLC_Manuf_Dist_A&D
2012 TLC_Manuf_Dist_A&D
Burns-Fazzi, Brock Executive Benefit Focus (Newsletter) - Winter 2011
Burns-Fazzi, Brock Executive Benefit Focus (Newsletter) - Winter 2011
Best Practices to Grow Service Contract Sales Webinar by Mize
Best Practices to Grow Service Contract Sales Webinar by Mize
Último
Python Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docx
Ramakrishna Reddy Bijjam
SOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning Presentation
camerronhm
Fostering Friendships - Enhancing Social Bonds in the Classroom
Fostering Friendships - Enhancing Social Bonds in the Classroom
Pooky Knightsmith
Food safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdf
Sherif Taha
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
Pooja Bhuva
Interdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptx
Pooja Bhuva
REMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
Dr. Ravikiran H M Gowda
Google Gemini An AI Revolution in Education.pptx
Google Gemini An AI Revolution in Education.pptx
Dr. Sarita Anand
Tatlong Kwento ni Lola basyang-1.pdf arts
Tatlong Kwento ni Lola basyang-1.pdf arts
Nbelano25
Towards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptx
Jisc
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
Dr Vijay Vishwakarma
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
annathomasp01
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
Poonam Aher Patil
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Denish Jangid
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
AreebaZafar22
How to Add New Custom Addons Path in Odoo 17
How to Add New Custom Addons Path in Odoo 17
Celine George
21st_Century_Skills_Framework_Final_Presentation_2.pptx
21st_Century_Skills_Framework_Final_Presentation_2.pptx
JoelynRubio1
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
ZurliaSoop
Philosophy of china and it's charactistics
Philosophy of china and it's charactistics
hameyhk98
Understanding Accommodations and Modifications
Understanding Accommodations and Modifications
MJDuyan
Último
(20)
Python Notes for mca i year students osmania university.docx
Python Notes for mca i year students osmania university.docx
SOC 101 Demonstration of Learning Presentation
SOC 101 Demonstration of Learning Presentation
Fostering Friendships - Enhancing Social Bonds in the Classroom
Fostering Friendships - Enhancing Social Bonds in the Classroom
Food safety_Challenges food safety laboratories_.pdf
Food safety_Challenges food safety laboratories_.pdf
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
On_Translating_a_Tamil_Poem_by_A_K_Ramanujan.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptx
Interdisciplinary_Insights_Data_Collection_Methods.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
REMIFENTANIL: An Ultra short acting opioid.pptx
Google Gemini An AI Revolution in Education.pptx
Google Gemini An AI Revolution in Education.pptx
Tatlong Kwento ni Lola basyang-1.pdf arts
Tatlong Kwento ni Lola basyang-1.pdf arts
Towards a code of practice for AI in AT.pptx
Towards a code of practice for AI in AT.pptx
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdf
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
COMMUNICATING NEGATIVE NEWS - APPROACHES .pptx
General Principles of Intellectual Property: Concepts of Intellectual Proper...
General Principles of Intellectual Property: Concepts of Intellectual Proper...
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
Basic Civil Engineering first year Notes- Chapter 4 Building.pptx
ICT Role in 21st Century Education & its Challenges.pptx
ICT Role in 21st Century Education & its Challenges.pptx
How to Add New Custom Addons Path in Odoo 17
How to Add New Custom Addons Path in Odoo 17
21st_Century_Skills_Framework_Final_Presentation_2.pptx
21st_Century_Skills_Framework_Final_Presentation_2.pptx
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Jual Obat Aborsi Hongkong ( Asli No.1 ) 085657271886 Obat Penggugur Kandungan...
Philosophy of china and it's charactistics
Philosophy of china and it's charactistics
Understanding Accommodations and Modifications
Understanding Accommodations and Modifications
2010 Billing Rates Survey
1.
2010 Billing Rates An
Altman Weil Flash Survey
2.
INTRODUCTION
2010 Billing Rates: An Altman Weil Flash Survey What are law firms going to do about billing rates in 2010? This is a question we have had posed to us over and over again by our clients as they struggle with the realities of the new legal economy — and one we hoped to answer with this new Altman Weil Flash Survey. Overview The survey found that US law firms project an average overall increase in rates of 3.2% for 2010. Most law firms will make rate change decisions based on specific variables including timekeeper class, practice, client or individual timekeeper. Only 13.1% will institute an across-the-board change in rates. Larger firms anticipate a slightly higher average increase than smaller firms, with 1,000+ lawyer firms reporting an average 4% increase, while firms with 50-99 lawyers will raise rates just 3%. In those firms that plan an across-the-board increase, the average rate change will be 4.1%. Law firms were asked to indicate the primary method they would use to adjust billing rates for 2010. Thirty percent of law firms indicated they would adjust their rates by timekeeper class. Other decision-making variables reported were practice or specialty (18.3%), client (12.8%) and individual timekeeper (11.1%). Firms that made their billing rate decision based on timekeeper class were asked to estimate their rate change within ranges for equity partners, non-equity partners, associates, counsel, contract lawyers and paralegals. The largest increase, according to the survey, will be in associate billing rates with 45.5% of firms making an increase in the 4%-6% range and 11.4% making an increase of 7% or more. Methodology Conducted in November 2009, the survey polled 688 US law firms with 50 or more lawyers. Completed surveys were received from 288 firms (a 42% response rate), including 45% of the 250 largest US law firms. The complete survey results follow, including selected comments from participants. © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey
3.
INTRODUCTION
About Altman Weil, Inc. Founded in 1970, Altman Weil, Inc. is dedicated exclusively to the legal profession. It provides management consulting services to law firms, law departments and legal vendors worldwide. The firm is independently owned by its professional consultants, who have backgrounds in law, industry, finance, marketing, administration and government. More information on Altman Weil can be found at www.altmanweil.com. © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey
4.
DEMOGRAPHICS In November 2009,
Altman Weil surveyed Managing Partners, Chairs and Executive Directors at 688 U.S. law firms with 50 or more lawyers1. We received responses from 288 firms for a 42% response rate. Firm Size All US Law Firms Survey Participants % Response 1,000 + 19 10 53% 500 – 999 62 26 42% 250 – 499 83 42 51% 100 – 249 245 113 46% 50 – 99 279 972 35% All 688 288 42% The respondent group includes: 45% of 2009 NLJ 250 law firms 39% of 2009 AmLaw 200 law firms 1 The exact number of lawyers in a law firm changes frequently. The universe of law firms surveyed is based on published directories and league tables available in fall 2009. Survey participants reported their own headcounts. 2 Five firms invited to participate in the 50-100 lawyer category reported their size as under 50 at the time of the survey. We have included their responses in the small law firm category. © 2009 Altman Weil, Inc. 2010 Billing Rate Flash Survey
5.
SURVEY RESPONSES 1. Indicate
the primary method your firm will use to adjust billing rates for 2010 ALL FIRMS 25.3% 30.4% 13.1% 18.3% 12.8% By timekeeper class By practice or specialty By client Percentage change across the board Other Respondents who chose “Other” described their method in a free text response with the following results: Timekeeper by timekeeper – 11.1% Combination of factors – 4.2% Associates by class and/or Junior Partners only – 3.1% On a case by case basis – 2.8% No increase – 2.1% Undecided – 1% Specific dollar/hour increase – .7% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 1
6.
SURVEY RESPONSES 1.
Indicate the primary method your firm will use to adjust billing rates for 2010 BY FIRM SIZE 1000+ 50% 40% 10% 500-999 30.8% 11.5% 3.8% 34.6% 19.2% 250-499 47.6% 11.9% 7.1% 2.4% 31.0% 100-249 30.1% 19.5% 12.4% 13.3% 24.8% 50-99 20.6% 19.6% 19.6% 13.4% 26.8% All 30.4% 18.3% 12.8% 13.1% 25.3% 0% 20% 40% 60% 80% 100% By timekeeper class By practice area or specialty By client Percentage change across the board Other © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 2
7.
SURVEY RESPONSES 2. If
you will adjust your billing rate by timekeeper class primarily, indicate your best estimate of the rate change for each timekeeper class (recognizing that there may be a few individuals whose circumstances differ). ALL FIRMS Equity partners 23.9% 44.3% 30.7% Non-equity partners 29.5% 34.6% 34.6% Associates 15.9% 26.1% 45.5% 11.4% Counsel 36.8% 34.5% 27.6% Contract lawyers 43.1% 29.2% 25.0% Paralegals 27.3% 37.5% 30.7% 3.4% 0% 20% 40% 60% 80% 100% Decrease No increase 1%-3% increase 4%-6% increase 7+% increase © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 3
8.
SURVEY RESPONSES 2. If
you will adjust your billing rate by timekeeper class primarily, indicate your best estimate of the rate change for each timekeeper class (recognizing that there may be a few individuals whose circumstances differ). BY FIRM SIZE 1000+ lawyers Equity partners 20% 20% 60% Non-equity 40% 60% Associates 20% 80% Counsel 20% 40% 40% Decrease No increase Contract Lawyers 25% 75% 1%-3% increase 4%-6% increase Paralegals 20% 80% 7+% increase 0% 20% 40% 60% 80% 100% 500-999 lawyers Equity partners 12.5% 62.5% 25.0% Non-equity 14.3% 42.9% 42.9% Associates 25.0% 37.5% 37.5% Counsel 25.0% 50.0% 25.0% Decrease No increase Contract Lawyers 16.7% 50.0% 33.3% 1%-3% increase 4%-6% increase Paralegals 12.5% 50.0% 37.5% 7+% increase 0% 20% 40% 60% 80% 100% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 4
9.
SURVEY RESPONSES 2. If
you will adjust your billing rate by timekeeper class primarily, indicate your best estimate of the rate change for each timekeeper class (recognizing that there may be a few individuals whose circumstances differ). BY FIRM SIZE 250-499 lawyers Equity partners 5% 60.0% 35.0% Non-equity 11.1% 44.4% 38.9% Associates 10% 25.0% 50.0% 10% Counsel 10% 50.0% 40.0% Decrease No increase Contract Lawyers 33.3% 27.8% 38.9% 1%-3% increase 4%-6% increase Paralegals 10% 45.0% 45.0% 7+% increase 0% 20% 40% 60% 80% 100% 100-249 lawyers Equity partners 29.4% 38.2% 29.4% Non-equity 34.5% 27.6% 37.9% Associates 20.6% 23.5% 47.1% 8.8% Counsel 41.2% 32.4% 23.5% Decrease No increase Contract Lawyers 39.3% 28.6% 25.0% 1%-3% increase 4%-6% increase Paralegals 29.4% 35.3% 26.5% 7+% increase 0% 20% 40% 60% 80% 100% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 5
10.
SURVEY RESPONSES 2. If
you will adjust your billing rate by timekeeper class primarily, indicate your best estimate of the rate change for each timekeeper class (recognizing that there may be a few individuals whose circumstances differ). BY FIRM SIZE 50-99 lawyers Equity partners 40.0% 35.0% 25.0% Non-equity 55.6% 27.8% 16.7% Associates 20.0% 15.0% 55.0% 10% Counsel 68.4% 10.5% 21.1% Decrease No increase Contract Lawyers 80.0% 6.7%13.3% 1%-3% increase 4%-6% increase Paralegals 50.0% 15.0% 30.0% 7+% increase 0% 20% 40% 60% 80% 100% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 6
11.
SURVEY RESPONSES 3. What
do you project as your firm’s overall rate change? ALL FIRMS 50% 40% Response rate 30% 21.6% 19.9% 19.9% 20% 14.9% 8.5% 7.8% 10% 4.6% 0.8% 2.1% 0% 0% 1% 2% 3% 4% 5% 6% % e as 7+ re ec Billing rate change D Average rate change: 3.2% Median rate change: 3.0% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 7
12.
SURVEY RESPONSES 3. What
do you project as your firm’s overall rate change? FIRMS MAKING AN ACROSS THE BOARD CHANGE 50% 40.0% 40% Response rate 31.4% 30% 22.9% 20% 10% 2.9% 2.9% 0% % e 0% 1% 2% 3% 4% 5% 6% as 7+ re ec Billing rate change D Average rate change: 4.1% Median rate change: 4.0% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 8
13.
SURVEY RESPONSES 3. What
do you project as your firm’s overall rate change? BY FIRM SIZE 1000+ 10% 10% 10% 40% 10% 20% 500-999 4.0% 12.0% 16.0% 32.0% 8.0% 16% 8% 4% 250-499 14.6% 34.1% 22.0% 19.5% 4.9% 100-249 8.0% 4.5% 25.0% 17.0% 17.9% 18.8% 5.4% 50-99 14.0% 12.9% 18.3% 20.4% 7.5% 22.6% 4.4% All 8.5% 7.8% 19.9% 21.6% 14.9% 19.9% 4.6% 0% 20% 40% 60% 80% 100% Decrease No increase Overall rate change by firm size 1% increase Average Median 2% increase 1000+ 4.0% 4.0% 3% increase 500-999 3.3% 3.0% 4% increase 250-499 3.4% 3.0% 5% increase 100-249 3.1% 3.0% 6% increase 50-99 3.0% 3.0% 7+% increase All 3.2% 3.0% © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 9
14.
SURVEY RESPONSES 4. Your
comments regarding billing rates in your firm or the profession for 2010 Following are representative comments from survey participants: CLIENT PRESSURE We are finding it very difficult to get any rate changes from most of our clients. Most clients are not honoring rate increases in 2010, just like 2009. Many of our clients have asked us to reduce rates this past year. We will be selective in the clients we approach for rate increases. Even prospering clients are taking advantage of the economy to push back on rate adjustments. 2010 will remain a challenge from a revenue standpoint. Firms need to push back on the clients' unreasonable demands to hold rates at 2008 levels and give a 15% discount off of those rates. NEED TO INCREASE AFTER ‘09 FREEZE Our Firm has not adjusted rates for over 18 months. Accordingly, we believe an adjustment is necessary and we will execute on it by practice group, based on our understanding of market conditions within the segments of the economy that are showing the ability to accept a rate increase. There will continue to be pressure from clients not to increase rates, but we have held rates for the past 2 years, other than increases in the lower ranks based on seniority. We plan to adjust rates upwards this year, where possible. Mostly an inflation adjustment. We froze our rates moving from 2008 into 2009. I hear managing partners speaking of freezing rates moving into 2010. We can't sit out two years without changing, so we are going to do so, hoping that client goodwill from last year will cushion us at this year's hike. SMALLER THAN USUAL INCREASE Our percentage increase for 2010 is 2 to 3 points less than in recent previous years. Not only will our billing rate increases be lower, but we are being asked to discount more heavily than ever before. Overall, they will be flat or perhaps modest increases, but at the same time they will be made on a strategic basis, not across the board. © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 10
15.
SURVEY RESPONSES OUR RATES
ARE LOWER THAN COMPETITORS’ Our rates are somewhat below large regional and national firms so we believe we still have some room for increase, although we may have to hold the line with some institutional clients. We're making the changes we contemplate because of specific and uniform information that our rates increases have not kept pace with competitors by market, practice area and experience level. We believed our rates for associates were below market and felt we could adjust them. INCREASE FOR NEW CLIENTS ONLY Difficult to materially change rates on ongoing matters, but for new matters and certainly for new clients, the increases will hopefully lead to higher realization. I think we will see rates held close to where they are for major clients; however, rates for smaller and new clients will be increased such that the overall effect will be about a 3-4% increase. MORE ALTERNATIVE PRICING Rate increases are increasingly difficult to implement. The future appears to be creating and implementing alternative pricing arrangements which are increasingly demanded by clients, but also separates those who implement them from competitors. Rates are becoming increasing irrelevant, bills are adjusted, flat fees negotiated, etc. Increased interest in alternative billing arrangements. Can't tell yet whether it is long-term or just the topic du jour. GREATER EFFICIENCY The "increases" will have to come about as a result of greater efficiencies and more frequent use of alternative pricing. The effective rates for nearly all firms will go down. The key to 2010 and beyond will be to manage the margins. © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 11
16.
SURVEY RESPONSES OTHER
Increasing the "list rates" may not necessarily increase the net of discount rates actually paid. There will be flexibility for deals and client resistance, but we must see a net increase. Inflation is expected to be back in '10. They will remain largely unchanged, especially at the Partner level. Regardless of standard rates, clients will continue to seek discounts off standard rate and firms will continue to adjust unless the lack of profitability makes firms decide to fire certain clients who are asking more than what the firm can reasonably discount to remain profitable. We are increasing some of our rates more where we have greater bargaining power, and in some areas where we don't have that bargaining power, we are sitting tight. I do feel that unilateral reductions or freezes in rates by clients for all of their law firms are not appropriate because a one-size rate reduction does not fit all. Nevertheless, we expect to see more of those emails this year. We have a couple of practice areas where rate increases will be (relatively) aggressive as we have a national brand in those areas and we continue to be priced under market. In other practice areas, our increases will be fairly modest, either because the work is increasingly becoming commoditized or because rate caps and client demands prevent anything more than minor adjustments. A major focus in 2010 will be on how to better provide services at a lower cost to the firm and to our clients. We were very surgical in our rate increases this year. Tending not to push the higher rate people. Relied heavily on our practice group leaders' feedback. We don't even try to raise rates every year. The greedy SOBs that do have antagonized the entire industry to those of us who only seek to raise rates when economically necessary (and PPP isn't economic necessity). © 2009 Altman Weil, Inc. 2010 Billing Rates Flash Survey 12
Baixar agora