Does your firm regularly adjust rates? I read an article suggesting it should happen annually. Curious how regularly firms adjust attorney rates.

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My firm does it annually which I don’t think is appropriate. If we haven’t learned anything new or expanded our practice/areas of practice, I can’t see the point.

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Not annually - usually as the attorneys become more senior, if that makes sense. For example, there wouldn’t be an adjustment from a first year associate to second but instead when they become a mid-level associate.

Our fee agreement is: only partner charges $350/hr. All associates are $250/hr (currently, I’m the only associate (5th year)), law clerk (we don’t currently have one) is $125/hr, and paralegal is $75/hr. We are hiring a first year, and I don’t think it’s appropriate for me to be billed out at the same rate, so I’m deciding (1) what I think is appropriate (i.e. charge $175 for the first year and keep me the same $250); and (2) whether to even worry about it and talk to the boss, or just say: none of my business. 😂

This seems very low - and I live in a LCOL area.

Yes. Annually. Mine went up $20 this year.

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