TyMetrix

10 Jan 2013 at 4:27 PM
Biglaw, Billable Hours, In-House Counsel, Money, Partner Issues, Reader Polls

New Data on Hours, Billing Rates, and Corporate Legal Spending

By David Lat

What does 2013 hold for the world of large law firms? Let’s look into our crystal ball.

Actually, scratch that. Making predictions is a tricky business. Sometimes we’re right — like when we predicted robust bonuses out of Cravath, based on their large partner class — but sometimes we’re wrong.

For now, let’s keep our powder dry, and instead check out historical data about hours, billing rates, and corporate legal spending. Can we gain any insight into the future by looking back over the past?

Continue reading “New Data on Hours, Billing Rates, and Corporate Legal Spending”

2 Comments

Tags: Biglaw, Billable hour rates, Billable Hours, Billing Rates, Billing Time, future of Biglaw, Hourly Billing, In-House Counsel, Money, Partner Issues, Reader Polls, The reports of Biglaw's death are greatly exaggerated, TyMetrix

Follow @atlblog

More subscription options …
Sponsored Content
- 24 May 2013 at 10:52 AM
Bridge the Gap: Attorneys Learning Real World Principles
What does it mean to be “newly admitted?” To us, it means endless possibilities!

We recognize that you already possess the ability and intelligence to succeed in a variety of legal professions. Our job is to expose you to various practice areas in a way that ensures those very attributes are successfully applied. Our seasoned and successful faculty present unique programs that provide an approachable and practical understanding of the avenues of achievement available as you launch a fruitful, enjoyable and promising career.

Our Live Bridge the Gap weekends satisfy the entire year of New York Newly-Admitted CLE Credits in only two days!

After physically attending a full weekend, you will receive:
• 3.0 Ethics CLE credits,
• 6.0 Skills CLE credits, and
• 7.0 Professional Practice and/or Law Practice Management CLE credits

Date: Saturday, June 8 and Sunday, June 9, 2013
Time: 9:00 a.m. – 4:35 p.m. (EST)
Location:
55 Exchange Place
5th Floor
New York, NY 10006

Sign up here
Keep reading »
- Tags: CLE, Lawline
Sponsored Content
- 23 May 2013 at 5:31 PM
- Asia Chronicles
Hong Kong/China and Singapore US Associate Lateral Markets Improving With New Openings In Cap Markets, M&A, Fund Formation, Project Finance And FCPA / White Collar Litigation
Presented by Kinney Recruiting
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: asia@kinneyrecruiting.com.

Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.

On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
Keep reading »
- Tags: Asia, China, Hong Kong, Legal Recruiting
Sponsored Content
- 22 May 2013 at 11:19 AM
Virtual Canary in the Digital Mine #3: Total Pre-Cull (Part 1 of 3), Or, How I Learned to Stop Worrying and Love Predictive Coding
Presented by AccessData
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?

First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.

On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.

What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
Keep reading »
- Tags: AccessData, CAR, eDiscovery, Predictive coding, summation, TAR
Video Profiles for Job Seekers

The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!
Contact Us
Editorial Staff

Managing Editor

David Lat

Editor

Elie Mystal

Assistant Editors

Staci Zaretsky
Joe Patrice
How Can We Help You?
- Send tips to:
  tips@abovethelaw.com
- For tech issues email:
  web@breakingmedia.com
- For advertising or events email:
  advertising@breakingmedia.com
- For research or custom solutions email:
  services@breakingmedia.com
- Above the Law is published by Breaking Media.
  For a full list of our sites, services and staff visit breakingmedia.com

Above the Law

A Legal Tabloid - News, Insights, and Colorful Commentary on Law Firms and the Legal Profession

Managing Editor: David Lat
Editor: Elie Mystal
Assistant Editor: Staci Zaretsky
Contributors: Kashmir Hill, Marin, Mark Herrmann, Jay Shepherd

TyMetrix

New Data on Hours, Billing Rates, and Corporate Legal Spending

Sponsored Content

Bridge the Gap: Attorneys Learning Real World Principles

Sponsored Content

Hong Kong/China and Singapore US Associate Lateral Markets Improving With New Openings In Cap Markets, M&A, Fund Formation, Project Finance And FCPA / White Collar Litigation

Sponsored Content

Virtual Canary in the Digital Mine #3: Total Pre-Cull (Part 1 of 3), Or, How I Learned to Stop Worrying and Love Predictive Coding

Video Profiles for Job Seekers

Contact Us

Editorial Staff

How Can We Help You?

Our Sites