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US firms' City bases outstrip UK firms' RPL by 50 per cent

This is an odd story. The fact that billing targets at US firms typically exceed UK firm billing targets (and that Partners are also expected to meet said targets - no slack cut there) means that US firms are obviously going to generate more revenue per lawyer. That's why US firms can afford to pay more - the extra 20-to 30K is small change compared to the extra revenue generated. "US firm lawyers work long hours" is not news. The question is who is this aimed at? Is it itchy-footed partners who may be eyeing up the juicy PEP that such RPL figures generate? Is it clients who perhaps should question whether US firms are, literally, sweating assets in order to generate revenue at the expense of resourcing matters with larger teams? Is it anyone in particular, or is it just idle observation?

9-Oct-2012

6:18 pm