Quote:
Originally Posted by Charsiu
Oh my, that is a bit of a disheartening read.
|
The billable hour has long been one of the most difficult issues to deal with. Selling time probably isn't the best business model, and yet that is what is by far the most common billing method. It does help explain the attraction of in-house for some.
It isn't all bad, though. Yes, the big firms may make more money on the backs of juniors it they work a tonne of hours. However, the more hours you work, the more you learn and the more exposure you get. (This is how the senior guys explained it to me. There is at least some truth to it, but I do think it rewards the single-minded driven lawyer, which often leads to burn out and dissatisfaction with the industry). Although not overly common, some firms are set up such that the associates are independent contractors who receive a set fraction of what they bill. Can be scary, but at least intellectually honest as to valuing the work. No system is perfect though. Even as a partner, compensation discussions are tough. Pretty much like the hockey arbitration, where one side is saying how great they are and the other knocking him/her down a notch. There is only so much pie to go around.
