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

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Ours are raised annually.

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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.

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

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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.

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Annually

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

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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.

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