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Magic circle defies downturn as top billers bump up hourly rates

These hourly rates are aspirational Although I agree with the sentiment that you should charge what you are worth, that certain avenues of law are worth more now than they were a year ago and that clients are seeking to gain better value from their legal providers, this survey provides little value to those running law firms. Had the survey sought to look at recovered rates and the difference between them and headline rates, readers could have deduced the impact the credit crunch is having on profitability. A further source of value would have come from an analysis of trends in write-off and discountings.

16-Oct-2008

5:35 pm