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It may have nothing to do with you or your performance but rather what the clients you v. they work on are willing to pay. The firm may very well want you at a higher rate, but the partner(s) you work for may have balked at it. As long as it is not impacting your pay, it shouldn’t matter.
Chief
Is he in the same group/specialty as you? If he’s in a different specialty that just has higher rates I wouldn’t be concerned. They may just feel more comfortable billing him out to clients at a higher rate since they have more experience with him.
It would be expertise-based I think. I'm seven years out and bill at a higher rate than my coworker who is ten years out because I have more years in the practice area.
I lateraled over to my firm from a biglaw firm in a practice area my new firm needed. I get billed out at a higher rate than other associates in my class year.
Sorry if I'm missing something, but why does this matter?
Yes you should! They can always say no and explain why. Or they can raise your standard rate for new matters and clients who pay standard rates (or a % of) while keeping it lower for institutional clients that have more specific rates. Most of my work is at a discounted rate because of the clients so I always jack up my standard rate when I can to capture that extra in collections that those clients are willing to pay. For me it’s my rate and collections, not # of billable hours, that makes it so I’m performing well in the eyes of my managing partner.