Anyone else in transactional law struggling with the perverse incentives of keeping your hours under the flat fee you’re billing for the deal but high enough to meet your target? My managing partner gave me extensive praise that all my deals are under budget, but my hours are just under my target for bonus (bonuses can also be given on a discretionary basis, but who wants to risk that?)

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Not transactional, but litigation, and have felt similar pressures. Praise for doing things quickly and efficiently, but in the end, the hours total is what matters most. Personally, I found I could only do the ethical thing and not churn hours for the sake of churning hours. I actually got a thinly-veiled talking to from a partner for that, which is when I decided I’d be better off elsewhere than working at that firm.

This us hard, esp. when you are in venture....

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