How do you decide when and by how much to increase billing rates? My firm just released a new suggested rate sheet for next year and my suggested rate went up by $150 for new clients. I’m obviously not going to start charging existing clients an extra $150 an hour, but what would be reasonable? Do one larger increase and then leave it alone for a few years, or do a series of smaller yearly increases? Any other thoughts?

Posting as :
works at
You are currently posting as works at

We raise rates every two years. Be careful billing different clients different rates. If a new client finds out you are charging other clients $150/hour less, they’ll be pissed.

likesmart

Biglaw raises rates 5-7 percent each year. Like clockwork. Every time there’s an associate pay increase, their rates go up as well.

like

if I start to get really busy with new clients practically breaking down the door then I increase my rate. The higher the demand the higher the fee.

I’ve raised rates consistently over the last 3 decades, but always strategically. A superstar associate may get a 20% increase, while a not so great associate gets a lower or null increase that year. It’s all about balance and ultimate value to the client. If you do it well, clients should not even notice or mention it.

We upped by $100 for the past 3 years.

Does it matter? Charge the clients what you agree to or the rack rate and move on. I don’t think mine really notice tbh.

Related Posts

Quantum computing. Can someone through some light. Best place to learn more on this

like

Tomorrow I will be having interview in Delloite USI for Data Scientist role. Could anyone let me know how it goes. How many rounds are there? And what kind of questions put up in each round?

like

Why do they have to destroy anyone that work in M&A? Really missing the coverage lifestyle right about now..

like

HSBC LevFin? Can anyone speak to the culture, deal flow, and exit opps?

likeuplifting

Whats the salary for a senior compliance officer in miami at an investment firm?

like

Lyft driver delayed picking me up 30 min, resulting in me canceling my ride and asking hotel to call me a “yellow taxi” to get to the airport because it was 5am and all ubers/lyfts were 15 min. Specifically said yellow. Hotel calls me a private lux SUV and the driver got out of the car to handshake the man who called and said hi (honestly money couldve been passed). I then get hit with a $180 ride. Marriott website says taxi should be $65. Should I complain or let it go?

like

Hi Folks,

Please like the post, aiming for 11 likes to unlock DM

Also, Which offer is better.

Honeywell - 17 fixed + 4.5 variable
Guavus Thales - 20 fixed + 4 variable

Role - Data engineer
Total experience - 2.5 yrs
Tech stack - Spark, Kafka, Flink, Kubernetes


Thank you.

like

Guys what reason to give to hr when switching company within 6 months?

like

How many times a week do you hit the gym?

like

How is upgrad abroad courses?Do they really help us with credits transferring and studying abroad?

like

Something you do that's outside the norm of coworkers / finance crowd. Ex: buy inexpensive underwear, listen to heavy metal, stay-cations, eat Popeye's regularly, tattoos

like

Who else is constantly given briefs with influencers baked in as a key component of the solution?

Recs for getting art framed? I know the MFA sends their stuff to Stanhope but I don’t think I really need museum quality framing.

like

Hot take: if it’s actually a stealth layoff then everyone else got the same speech as you and outing the firm won’t identify you.

like

Is JS7 & L4 same ?? Any idea ??

like

I am a Angular Frontend developer with HTML, CSS, js, ts as my secondary languages. I also have some idea of Azure app services (and recently passed my AZ900 Exam last month).

Yoe: 4

I wish to upgrade my techstack but not sure what will help me to grow FINANCIALLY and have sustainable career in IT.
Can you guide me on what can I learn for the same.
1. React and react Native
2. Azure and complete any certification such as AZ 204
3. MEAN stack.

like

are there any engineering fields that you can get an online degree in?

like

Is there a difference between strategy & operations and business operations & strategy?

like

Does MS have jobs for Business Analysts? Can anyone please refer me for a BA post?

like

Don't look for your happiness in a job or a career. You will always be chasing it. What makes you happy?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal