{ "media_type": "text", "post_content": "How is the billable rate for each associate determined at your firm? Does everyone in the same class bill out at the same rate?", "post_id": "61956147ad8dc2002b08f6e3", "reply_count": 8, "vote_count": 3, "bowl_id": "5df70ed2f7169f002b172d3f", "bowl_name": "Big Law", "feed_type": "bowl" }

How is the billable rate for each associate determined at your firm? Does everyone in the same class bill out at the same rate?

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

It is funny that none of you know how this is determined. My firm literally is negotiating with me right now to raise my rate. I try to keep my rate low but if I go too low they tell me I can't have a big raise. My collections are already high (3.7 x base this year) so I am generally allowed to do whatever I want. The person in charge of setting the rates at my firm is an admin person but each partner approves their own within reason. Anyone outside of their reccomended range has to get special approval. We are a big firm but it is eat what you kill around here except for massive firm clients controlled by partners in NYC/Chicago/LA. Also, the massive firm clients negotiate special rates that we only renegotiate every 2 years. The pressure to raise our rack rates comes from the fact that those clients don't care about rack rates but want overall discounts. So my rate is high overall but low enough that a 15% discount gets me a meaningful number that I can sell to new clients but doesn't hurt me with the existing massive firm clients.

likesmarthelpful

There are others at my firm that all set their rates high and give massive discounts. Like our tax partners rack rates are 1400 but I see them mostly billed out at 850.

likehelpful

Location usually has a role.

like

It can also vary by matter and group too. I.e. different clients will negotiate different rates, and different groups will charge different rates, etc. It’s hard to know exactly what is going on unless you’ve seen the bills firm-wide or have partner access.

I've heard in lit at least they also bump up your billing rate if you've clerked. Not sure if that's a permanent bump though cause seems weird to bill an 8th year more because they clerked over half a decade ago. (Also this is based on a pretty old source - not sure if it is even true.)

In BF’s first year (2020) at a major lit firm, they billed him as a third year since he did two post-graduation clerkships.

like

Many factors. All of the above plus it generally ties into your salary and/or experience and rank.

Per office, per experience, per client.

Related Posts

What are your billable hours requirements during busy season?

Public Accounting: where BS billable work takes longer than expected. #Pacman

like

Does anyone here work for a firm that doesn't track billable hours?

like

How accurately do you guys charge your billable time? Not asking due to overcharging. Asking because too lazy to keep up.

like

What busy season? I ended this week with zero billable hours.

like

this email though– "...busy season to be defined as 9/12 to 12/31. based on client needs, may extend to 3/31. seniors/staff 50-55 billable hours." bc 6 mo of BS should be acceptable... 🙋🏼🔫

like

What are everyone's thoughts on firm activities/professional development work that you do outside billable hours? Anyone else feel that most are a complete waste of time?

like

On the bench looking for billable work before my project starts.

like

Is RSM doing layoffs? I am hearing lots of "not enough billable hours" chatter.

like

If Donald trump works from Trump Tower two days a week, is he remote and WFH? As his client, I am not ok with that since his billable rate is really high.

like

It's 5 PM before the long break. Do you know where your billable hours are? Stay utilized my friend.

like

KPMG folks, if you log 8 hours as PTO on a given day and then also log billable hours on the same day, will that inflate your adjusted utilization %?

like

Is loyalty a thing in consulting? Project leadership has been offering billable hours from the markup even though there's not much to do. Would it be bad if I leave for other opportunities?

like

In need of some billable work to do.

like

Is there a policy for charging billable hours on the weekend? Feel like I should be able to bill 1.5x+ for having to work on the weekend

like

Just had a SM call and ask to move over 2 weeks of billable work to a PRD code because the project is over budget. Just checked and this will put me just at 89% utilization for year end (cont.)

like

The anxiety doesn't stop. Project restricted to 40 billable hours, but have to work tomorrow because we just have too much to do. Overworked and underutilized. Eff me.

like

SMs-if I email you something you asked me to do as a favor, please have a courtesy to at least reply.Even a single word "Thanks" will work and will not take more than 30s of your highly billable time

like

Impromptu hour and a half lunch requested by management. Count towards billable hours? Already at 12-hour days and not really wanting to tack on additional time at end of day

like

How busy are BDO offices now? In terms of billable hours if possible...

like

Additional Posts

How many first year analysts here started as interns? What did you guys do to get those jobs?

like

Hhjjndjjffjjddjdh dndbbdndjjdjdndnnf dndbdhjxjdjd djdjhdjdjdjhdjndndndjdjdjdjjcncndjdjnd dhdjhdjdjdjhddhhd ghhhhhhh ghbbbbb fghhhhhhbh cvhhhhhhbhbb ghhbb. Hjnxnxndbd vsbdbddbbxbdbbd dbdhdhdjjxndnbdhdh

like

Fhhbbbbjjnnnnnnsn dnnsndjjjd dhjhdjjdjdjdjnd dhjhdjjdjdjdjnd djjfjdjjdndndnnfnd dhjhdjjdjdjdjnd dhjhdjjdjdjdjnd djjfjdjjdndndnnfnd djjfjdjjdndndnnfnd now djjfjdjjdndndnnfnd do. D dndnnfndnnsdhjdjdjdjnd

like

Post with company

like

Do you see this post? 12:59am

Downed 3 bourbons in Acela first class NYC to Philly beat that suckas

like

Any guys on here built like power lifters try Bonobos' athletic fit jeans? I have a serious thigh issue with most jeans and curious to hear some feedback about these jeans...

like

How bad is the Aloft in Louisville? Is the Marriott better?

like

What are you doing with your life?

like

I HATE the people who ping you “Hey” and refuse to add the ask until you respond back with a greeting. Just tell me what you want 🤦‍♂️

likefunnysmartupliftinghelpful

Is it just me or is working from home 10X more efficient. I can’t wait till they downsize offices in like every major city

like

I hate to talk off line...

like

FML, too much ⛷⛷⛷last night and a ton of client interviews today

like

I'm on the verge of tears when United announces it has a new caterer and that food+drink will be limited on my flight. But the alcohol supply is full, and relief washes over me in an awesome wave.

like

"Its a marathon, not a race” - they say... but do they know that you barely get a break in a marathon?

likefunny

What's the typical salary analysts who get promoted to consultant? I've heard a few figures and beginning to think they low balled me as a direct hire consultant

like

KPMG learning center announced in Orlando. Won't be ready for three years though.

like

First week my manager doesn't come in and I get my own car.. Too tired to even get out of bed #hotelproblems

like

Just got executive platinum on American! Close one.

like

@Anyone who travels weekly: Have you ever not had an apartment or house (home base) near home office and lived off alt travel, hotels, stay with friends, etc.?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal