{ "media_type": "text", "post_content": "How long does it usually take for a firm to raise an associate’s billable rate?", "post_id": "5fb47bbb4399f5001c078e29", "reply_count": 12, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law" }

How long does it usually take for a firm to raise an associate’s billable rate?

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

Ours are raised annually.

like

I think it depends on the practice area. In our firm (primarily insurance defense), your rate is set by the client and varies per client. Every associate, no matter the years of practice, chargers the same associate rate for that client, and every partner, no matter the years of practice, charges the same partner rate for that client.

like

Yes, another reason they promote income partners so early in ID, bigger rate.

like

I think our firm raises our rates annually. Maybe biannually... not actually sure, I just know that it happens around the middle of summer. Also, every associate in a class year for a particular department bills a similar rate.

like

Annually

like

Would it be unusual for a firm to raise a new associate’s billable rate after less than 3 months of practicing law?

like

From my understanding of things based on listening to other associates, the work I’m doing/able to do is more advanced than what a lot of first years are doing/expected to do (drafting unique provisions of M&A agreements, preparing simpler agreements from scratch like employment agreements and escrow agreements, actively participating on calls with clients) and I’ve consistently received good feedback from my supervising partner as well as the managing partners. I just didn’t know if it was unusual for an associate’s rate to be increased so early based on performance.

Related Posts

Can’t wait for excuse #2292928272 as to why I’m not getting a promotion that I was promised months ago...

A friend at UBS just got a raise. Is it normal to get mid year raise like this at UBS? It came as a total surprise to this friend.

likehelpful

Anyone else completely mail it in after giving their 2 weeks? Major senioritis for me rn. Probably had 2 billable hours today. Maybe

like

Hey all! Has anyone ever heard of people using an offer from another firm to get a promotion or progression and 30-40% raise? Pros/cons?

like

I’m up for promotion next year (will find out around February next year) and expecting my first baby in April. I get 16 weeks maternity leave and also considering whether to tack on a 3 month sabbatical or not. Should I take the sabbatical? I get 1/3 of my salary and can only use the sabbatical once every 5 years so I’m thinking it’s probably very unlikely I could take 3 months off in my career 5 years later….(cont)

like

How long should you work at a firm before you start looking for opportunities? I’ve heard it’s wise to wait until a promotion otherwise you get the stigma that you’re a job hopper. Also, what’s the minimal time you can work on a place and put it on your resume?

like

Someone in an HR session asked how Diversity and Inclusion retention/promotion efforts could negatively impact people who aren't "diverse." That's a bad look bruh.

like

I changed my job ~3 months after getting a promotion. How do I show this promotion on my resume? Should I just leave it out..

likefunny

Ok, guys I am taking tips on becoming a direct hire partner in FS. I have 10 years of work experience, all in FS. Underpaid and under-leveled. Can move to VP at a bank or jump to higher level. The promotion slog is too long.

likesmart

I just started as a first year associate at a firm that does not have any organized pro bono, however there is an “uncapped” billable hours policy that would allow me to apply pro bono to my hours requirement. How would you suggest I go about getting into pro bono work? It’s my understanding it’s not done much at my firm.

like

When did you get your first promotion, what was your title change, and how much of a pay increase did you experience?

like

I’m a 2017 associate in NYC biglaw. I logged approx. 2300 billable hours in 2019. Is that light, normal or heavy in the biglaw market for RE associates at my level? Thanks in advance for thoughts.

What are average billable hours for L&E attorneys? TIA!

like

One of the SMs is supporting my promotion case but they are lately trying to micromanage me and ask all nagging questions unnecessarily. Unsure how to handle this professionally.

like

What happens if you don’t meet utilization targets in a year? I switched from audit to advisory and have been here 2 months and my billable hours are way less than I was expecting (avg 30 a week). I’ve had good feedback on my projects and ask for more work in my down time, but the change of pace from when I was in audit is stressing me out.

like

Started working for an agency during the pandemic and found out that they cut associate salaries for those who started during the pandemic. I’m doing the same amount of work and getting paid less just because I started during the pandemic. Seeing as the agency has won more business and things are pretty much back to normal, would it look bad for me to ask for a raise?

like

First year level 9 (consultant) expecting to hear about pay raise this Wednesday (will be minimal) I am leaving the firm and new offer wants me to start on 11/26, should I ask to start 12/4 so I can..

like

Just got an email saying I've been selected as a candidate for a promotion in June...is this a new process?

like

If my director said I would be rated a 1 as a 2nd year, does that mean I should expect a promotion to senior come May? Not sure if you can be rated a 1 and not promoted.

like

At my new job, we’re told to get 8 billable hours of work a day on our timesheet. Even when I thought I had a lot to work on, the most I could get was 5 hours. I’m super stressed about getting in trouble, even though I have actively asked for more work. I was unemployed for 9 months during this pandemic and I now I’m super afraid of losing my job again. Is this a normal practice? Idk how I’ll ever consistently have that much work.

like

Additional Posts

Average total comp for a PE associate?

like

I'm 13 weeks pregnant. Any advice on when I should tell my leadership that I'm pregnant? Context: I'm a tech manager and have a team of 10 so will need to talk through replacement and return strategy etc.

like

What is the interview process like for the the VCA client consulting analyst position? What kind of questions are asked?

like

Last night's buy at 3096 goes 1.5 points over the objective that I called last night in Europe. There were two HWB long buying opportunities last night. New Target 3159.25 probably hit in today's NY session. We are trading Micro HWB's right now. Basically, we are goin to hit new highs and create a potential double top situation. Be careful being long at that new objective. If it's a dip into new highs situation, we could sell off violently, like we did yesterday. Bullish Above 3126.

Post Photo
like

Does anyone else have problems with always dreaming about work?

like

I really want to stop paying rent and buy my own place or land, but the insane restrictions on doing ANYTHING to your own land in northeast states is wild. Is it any wonder we have a housing crisis?

like
like

Hi Everyone I am currently working in a fintech company since 2 months but due to toxic work culture I'm planning to shift ,I have 2 years account management experience and I was wondering if any of you guys could help me get a CSM Or Account Management profile.? In any SAAS or other companies. Help would be appreciated as it's getting really difficult day by day to stay in this company.

like
like

MBB vs IB vs Biglaw. I only hear biglaw people complaining a lot about stress etc. Is it really so much more stressful than the other two?

like

What's the salary slab for consultants in Big 4s? Mine is 7.8 lpa and 58k is take home.

like

Does anyone here live in a city that’s not their home office? Would Accenture be open to me relocating to a city that is 2 hours from office and working remotely/commuting to clients/being staffed in my city?

like

What is the hierarchy at Accenture in the Netherlands? I’m interviewing for a technology consultant position. What about the salary range, it seems quite low on Glassdoor, €50k. Accenture

like

Which books would you recommend for in house counsel about strategy, management, and leadership? Asking as product counsel for tech startup.

like

Data Scientist at HP vs Data Science Analysis Manager at Cisco (IC), which one is a better position in terms of role and future prospects in Data Science. Years of experience is 6

like
like

Do big law firms really hire immigration lawyers? Also are there high paying exit opportunities for immigration lawyers in big law?

like

What is your bill rate vs salary per hour/day? I’m interested in hearing what the market rate is! Mine is 22.5%

like

How to talk up a support role? (Haven’t done anything solo always with a senior)

like

I was saving up my PTO to plan a trip to home country in December. Now the immigration team has started an immigration case so I cannot travel in December. I know as per policy I can only carry forward 10 days of PTO. Is it worth to try to get an exception? I know policies like these are non-negotiable. Has anyone ever tried anything like this and got a positive result?

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

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