Associate Life Survey: Time Machines Running A Little Slow
We’ve received about 1,000 responses so far to last Monday’s ATL / Lateral Link survey on bonuses, which is still open here.
On Wednesday, we told you about when bonuses were paid for 2007, and when (and whether) associates expect to receive bonuses in 2008.
Today, we’ll focus on another key component of the bonus equation: your hours.
In the past, we’ve asked you whether work was slowing down, but those surveys didn’t ask you what your billable hours would actually be at the end of the year.
Last week, we decided it was time to ask … and we’re, um, sorry.
Results: How many hours did you (or will you) bill in 2007 (and 2008)?
| Billable Hours | 2007 | 2008 |
| Less than 1600 | 3.29% | 7.93% |
| 1600 - 1699 | 2.58% | 6% |
| 1700 - 1799 | 3.99% | 5.61% |
| 1800 - 1899 | 8.45% | 7.54% |
| 1900 - 1999 | 11.5% | 16.44% |
| 2000 - 2100 | 22.54% | 21.08% |
| 2100 - 2199 | 12.68% | 14.31% |
| 2200 - 2299 | 11.03% | 6.77% |
| 2300 - 2399 | 12.44% | 5.42% |
| 2400+ | 11.5% | 8.9% |
As you can see, 2007 was a pretty good year for killing time. Roughly 70% of respondents billed at least 2000 hours last year (not counting associates with stub years), with over a third billing at least 2200. And over 11% — almost one in eight associates — were in the 2400+ zone.
This year, the mighty have fallen, and so have their hours. While roughly 56% of associates still expect to hit at least 2000 hours in 2008, the number reaching 2200 is expected to fall from 35% to about 21%.
Meanwhile, the number of associates who won’t even make 1800 hours has roughly doubled, rising from 9.86% to 19.54%. Almost one in twelve associates don’t even expect to make 1600 hours, way up from 3.29% a year ago. (Remember, these numbers exclude stub years.)
See nervous breakdowns by class, by year, and by market, after the jump.
Billable Hours By Class
The slowdown is affecting junior and senior alike, with each class generally expecting to do a bit worse this year than the class before them did in 2007, and also a bit worse than they themselves did last year.
For example, while over 60% of the Class of 2006 billed at least 2000 hours last year, only about 36% of the Class of 2007 expect to follow in their footsteps this year. And even though almost 60% of the Class of 2006 do still expect to hit at least 2000 hours again this year, the number expecting to break 2200 has fallen by almost half.
| Billable Hours | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | More Senior |
| Less than 1600 2007 hours 2008 hours | - 16.48% | 4.39% 5.26% | 3.57% 8.04% | 3.9% 3.9% | 3.03% 12.12% | 0% 9.68% | 5.26% 5.26% | 0% 0% |
| 1600 - 1699 2007 hours 2008 hours | - 7.69% | 4.39% 9.65% | 2.68% 1.79% | 0% 7.79% | 3.03% 0% | 3.23% 9.68% | 0% 0% | 2.44% 4.88% |
| 1700 - 1799 2007 hours 2008 hours | - 9.89% | 4.39% 4.39% | 2.68% 3.57% | 5.19% 5.19% | 9.09% 3.03% | 6.45% 3.23% | 0% 0% | 0% 12.2% |
| 1800 - 1899 2007 hours 2008 hours | - 9.89% | 8.77% 7.89% | 9.82% 8.04% | 3.9% 9.09% | 3.03% 0% | 16.13% 9.68% | 10.53% 5.26% | 9.76% 2.44% |
| 1900 - 1999 2007 hours 2008 hours | - 19.78% | 13.16% 13.16% | 8.04% 14.29% | 20.78% 24.68% | 6.06% 9.09% | 3.23% 12.9% | 0% 15.79% | 14.63% 17.07% |
| 2000 - 2100 2007 hours 2008 hours | - 18.68% | 19.3% 25.44% | 21.43% 21.43% | 22.08% 12.99% | 27.27% 24.24% | 19.35% 6.45% | 47.37% 36.84% | 21.95% 29.27% |
| 2100 - 2199 2007 hours 2008 hours | - 8.79% | 13.16% 15.79% | 16.07% 16.07% | 15.58% 12.99% | 9.09% 24.24% | 6.45% 19.35% | 0% 15.79% | 9.76% 7.32% |
| 2200 - 2299 2007 hours 2008 hours | - 5.49% | 11.4% 5.26% | 10.71% 10.71% | 10.39% 3.9% | 12.12% 15.15% | 9.68% 3.23% | 10.53% 5.26% | 12.2% 4.88% |
| 2300 - 2399 2007 hours 2008 hours | - 0% | 11.4% 5.26% | 11.61% 6.25% | 7.79% 6.49% | 15.15% 3.03% | 25.81% 12.9% | 15.79% 10.53% | 12.2% 7.32% |
| 2400+ 2007 hours 2008 hours | - 3.3% | 8.77% 7.02% | 13.39% 9.82% | 10.39% 12.99% | 12.12% 9.09% | 9.68% 12.9% | 10.53% 5.26% | 17.07% 14.63% |
Billable Hours By Practice
Remember back when we asked you whether the woes of Lehman Brothers and Merrill Lynch would hurt your career, and we got responses like “Litigation!” and “I’m in litigation!!” and “Litigator baby”?
Well, some of those responses might have been a little premature.
While litigators are definitely holding up better than their transactional peers, the number who expect to bill over 2200 hours is actually still down significantly, from about 40% last year to around 30% this year. Meanwhile, less than half of corporate practitioners expect to break the 2000-hour mark at all this year.
And although there’s an interesting argument that iffy structured finance transactions, not bad real estate deals, are to blame for the current economic malaise, real estate associates are still feeling some serious punishment, with only a quarter of respondents expecting to make 2000 hours this year, and about 43% expecting to fall shy of 1800. (There weren’t enough structured finance associates left participating in the survey to give a fair sense of how they’re doing … but you can probably guess.)
Not a bad day to be a bankruptcy or patent lawyer, though.
| Billable Hours | Bankruptcy | Corporate | Employment | Litigation | Patent | Real Estate | Tax |
| Less than 1600 2007 hours 2008 hours | 25% 5.88% | 2.91% 16.54% | 0% 0% | 2.96% 2.55% | 0% 2.63% | 0% 8.7% | 6.25% 4.35% |
| 1600 - 1699 2007 hours 2008 hours | 0% 0% | 2.91% 9.02% | 0% 7.14% | 2.37% 4.59% | 2.86% 2.63% | 6.25% 13.04% | 6.25% 0% |
| 1700 - 1799 2007 hours 2008 hours | 0% 5.88% | 4.85% 6.77% | 7.14% 0% | 2.37% 2.04% | 8.57% 5.26% | 12.5% 21.74% | 0% 4.35% |
| 1800 - 1899 2007 hours 2008 hours | 8.33% 0% | 13.59% 11.28% | 14.29% 7.14% | 4.14% 3.57% | 11.43% 5.26% | 0% 17.39% | 18.75% 13.04% |
| 1900 - 1999 2007 hours 2008 hours | 16.67% 11.76% | 4.85% 15.79% | 14.29% 21.43% | 10.65% 16.33% | 8.57% 13.16% | 25% 13.04% | 12.5% 13.04% |
| 2000 - 2100 2007 hours 2008 hours | 25% 35.29% | 15.53% 17.29% | 35.71% 21.43% | 22.49% 25% | 31.43% 15.79% | 25% 17.39% | 37.5% 39.13% |
| 2100 - 2199 2007 hours 2008 hours | 8.33% 11.76% | 14.56% 11.28% | 7.14% 35.71% | 14.2% 15.31% | 8.57% 23.68% | 6.25% 8.7% | 0% 13.04% |
| 2200 - 2299 2007 hours 2008 hours | 0% 5.88% | 5.83% 2.26% | 14.29% 0% | 13.02% 10.2% | 20% 15.79% | 18.75% 0% | 0% 0% |
| 2300 - 2399 2007 hours 2008 hours | 8.33% 0% | 16.5% 1.5% | 7.14% 7.14% | 14.2% 8.67% | 2.86% 5.26% | 0% 0% | 12.5% 8.7% |
| 2400+ 2007 hours 2008 hours | 8.33% 23.53% | 18.45% 8.27% | 0% 0% | 13.02% 11.22% | 5.71% 10.53% | 6.25% 0% | 6.25% 4.35% |
Billable Hours By Market
It looks like things are hurting all over.
| Billable Hours | Bay Area | Boston | Chicago | DC | LA | NY | Texas |
| Less than 1600 2007 hours 2008 hours | 0% 11.11% | 0% 0% | 2.78% 0% | 4.41% 1.18% | 5.88% 0% | 4.49% 14.35% | 0% 0% |
| 1600 - 1699 2007 hours 2008 hours | 3.03% 8.33% | 0% 0% | 0% 0% | 0% 3.53% | 0% 4.76% | 3.93% 6.28% | 4.76% 16.67% |
| 1700 - 1799 2007 hours 2008 hours | 0% 2.78% | 5.26% 13.64% | 5.56% 8.89% | 2.94% 1.18% | 0% 4.76% | 5.62% 6.73% | 0% 0% |
| 1800 - 1899 2007 hours 2008 hours | 12.12% 2.78% | 10.53% 4.55% | 5.56% 8.89% | 10.29% 8.24% | 0% 4.76% | 6.18% 7.17% | 4.76% 4.17% |
| 1900 - 1999 2007 hours 2008 hours | 15.15% 16.67% | 21.05% 27.27% | 5.56% 13.33% | 8.82% 17.65% | 11.76% 14.29% | 11.24% 15.25% | 14.29% 20.83% |
| 2000 - 2100 2007 hours 2008 hours | 21.21% 25% | 31.58% 27.27% | 27.78% 22.22% | 30.88% 27.06% | 35.29% 23.81% | 15.73% 19.73% | 23.81% 20.83% |
| 2100 - 2199 2007 hours 2008 hours | 12.12% 19.44% | 0% 13.64% | 11.11% 13.33% | 10.29% 16.47% | 17.65% 23.81% | 13.48% 10.31% | 23.81% 12.5% |
| 2200 - 2299 2007 hours 2008 hours | 18.18% 2.78% | 5.26% 0% | 13.89% 8.89% | 10.29% 10.59% | 11.76% 9.52% | 11.8% 5.83% | 4.76% 4.17% |
| 2300 - 2399 2007 hours 2008 hours | 9.09% 2.78% | 15.79% 4.55% | 13.89% 8.89% | 11.76% 7.06% | 11.76% 4.76% | 14.61% 4.48% | 9.52% 12.5% |
| 2400+ 2007 hours 2008 hours | 9.09% 8.33% | 10.53% 9.09% | 13.89% 15.56% | 10.29% 7.06% | 5.88% 9.52% | 12.36% 9.42% | 14.29% 8.33% |
The numbers above may be daunting for most, but just how much will they dampen our expectations for bonuses?
Stay tuned for more results.
—
Justin Bernold is a Director at Lateral Link, the sponsor of this Associate Life Survey.
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Comments
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First, but not the last, to say: Enough with the retarded LOL cats.
second?
FIRST-SUCK IT ATL!
First, but not the last, to say: Enough with the retarded LOL cats.
fifth and very hungry
Um...is anyone else happy that the percentage of associates billing 2400+ is going down?
MysTTTTTTal, I believe you meant to report that "Roughly 70% of respondents billed at least 2000 hours in ***2007***," not in the year 2000. Do you EVER proof anything before you post it???? Professionalism is clearly lacking here. Harvard is a crap-filled cesspool to accept people like you and let them graduate with such poor qualifications.
5=Hungry racist.
The ATM keeps telling me to feed it that cat. Or maybe its just Mystal disguised as an ATM machine telling me to feed it that cat. Either way, that cat will be eaten.
PB
"Roughly 70% of respondents billed at least 2000 hours in 2000"
In 2000?
These numbers seem a little high to me still - I wonder how much this is affected by when people's billing year ends (obviously, if your 2008 ran from Sep 1, 2007 to August 31, 2008, you would do better than someone who is billing from January to December).
i think these figures are exaggerated or have a self-reporting bias based on law firm consultant presentations.
These numbers seem a little high to me still - I wonder how much this is affected by when people's billing year ends (obviously, if your 2008 ran from Sep 1, 2007 to August 31, 2008, you would do better than someone who is billing from January to December).
Sometimes I eat Goat Roti at lunch.
I can't wait to buy my Xbox 360 on Black Friday!
Looking at these percentages, I guess Chicago is not where work goes to die. Looks more like NY.
Corporate + Class of 2006 + Bay Area = bad news
Interesting poll - although its pretty obvious that you didn't get enough responses to say anything meaningful about some populations (like senior associates). You might also consider posting a graph of this next time - much easier to read.
These reported hours seem WAAAAAAYYY high. People here are averaging maybe 80-110 hours per month. I myself would be happy to hit 1200 or 1300 by year-end.
OMG! The % of people billing 2000 hours dropped from 70% to 56%! The sky is falling! The practice of law will NEVER BE THE SAME!
v100 will lay off 40% of their associates!! OMG!!!
What if the % of associates billing over 2000 goes down another 5-7% in 2009??!?! v100 firms will have to lay off 98% of associates!!
7, I believe you meant to write "JusTTTTTTin, I believe you meant to report that "Roughly 70% of respondents billed at least 2000 hours in ***2007***," not in the year 2000. Do you EVER proof anything before you post it???? Professionalism is clearly lacking here. Harvard is a crap-filled cesspool to accept people like you and let them graduate with such poor qualifications."
Do you EVER check who writes a post before you post an outraged comment???? Professionalism is clearly lacking here. ATL is a crap-filled cesspool to accept people like you and let them post comments with such poor qualifications.
Seriously dude, it's a typo, and you still understood exactly what was intended. Is your temper *seriously* as short as your penis?
"These reported hours seem WAAAAAAYYY high. People here are averaging maybe 80-110 hours per month. I myself would be happy to hit 1200 or 1300 by year-end."
Yikes! I was part time at a V20 for a while and I think I hit 110 in my slowest month this year. My target was 1600.
Only 25% of real estate attorneys are earning their keep, yikes...
This data would be waaaay more readable and useful as a GRAPH.
Elie, make a graph?!?! That would rock.
These numbers are still too high. Everyone I talk to at my firm and others is super slow in corporate. The fact that only signle digits are below 1600 for almost all class years is suspicious. People hitting 1400 are having an above average year at many firms.
I do patents and was at work Saturday AND Sunday afternoons doing #$%$ doc review.
Normally that would suck balls. But these days? Feels like job security. =P
ELIE DIDN'T POST THIS, JUSTIN DID
Agree with 19 and 25. If I hit 1100, it'll be a miracle (and a shitty Christmas).
Oh, and my small corporate group at a satellite office is looking at a range of approximately 700 - 1200. I think the group will likely be getting smaller...
Those numbers are way high. Everyone around town has been having a lot more time for lunch.
It's actually been pretty enjoyable, if it wasn't for the economics of it.
Other than reviewing documents or being able to bill travel and traveling a lot, I'm not even sure I understand how people legitmately bill over 2400 hours.
21: Yes, it's true. My temper is incredibly friggin' long.
I bet these numbers include pro bono hours (at least they did in my response).
30 Well yeah, doc review is a great way to rack up hours. Except it sucks and does nothing for your resume and eats away at your soul.
GREAT for billables though!!
30/33: It's called padding hours. Pretty easy to do over the long term. What I don't understand is why people bill 1800-1900 legitimate hours and leave it at that. What a waste...
I have to laugh how my last boss was pushing me to bill 2400, saying it wouldn't be good enough to bill less. Of course, this was when the work had significantly slowed down and the firm ended up laying off half the associates in my satellite office. Now, with half the manpower, one probably could bill that amount. but I hated my boss and fortunately found something a lot better, a lot less stress and hours requirement for only a very small salary difference.
Pad. Your. Hours.
It would've been nice to have the numbers for the Atlanta market too. I know, TTT etc. etc. Still a lot of readers down here, though.
Um, some of us are padding our hours and are still coming in at under 1600. There was literally no work for months, though things have picked up somewhat in the past couple of months.
Understood. I was referring to those legitimately billing around 1700-1800 hours. No reason to complain; just pad em.
I wish I had less work. I don't even care about making $1,000,000/year.
Can we define "pad"? Does that mean, say, rounding to the hour, or flat-out adding hours? Is that how so many ass'ts bill so many?
I agree these hours are way higher (esp for corporate) than could possibly result from honest billing.
"Honest" billing? Is there such a thing? I'd rather take my bonus.
Very good post (though a graph would provide a nice visual cue). I'm sure there's a self-selecting bias here (i.e., those comfortable with their hours (generally those who have more hours) will weigh in more heavily. That said, litigation at my firm has gotten slow - I'll still make my hours, but just barely. At this rate, 2009-2010 will be a 1500 hour year at best.
if you ask about philly, why not provide results on philly? yes, yes, TTT, but there are a shit-ton of lawyers here. and some of us are still busy.
I thought the cat pic was clever.