Charging $1,000 an Hour Is For Chumps

Posted below is the European fee schedule of Allen & Overy. At current exchange rates — approximately $1.55 to the Euro, and $2.00 to the British pound — this means that partners bill out at about $1,050 an hour in Paris, and $1,190 an hour in London. Says a source: “Twelve-hundred bucks an hour for a partner in London? Ridiculous.”
On the other hand, if a $1,200-an-hour partner can solve your problem in six minutes — with a well-placed telephone call, or an absolutely brilliant judgment call — maybe she’s worth it. Perhaps you should be more worried about $600-an-hour junior associates (to say nothing of $350-per-hour paralegals).

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