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Magic circle defies downturn as top billers bump up hourly rates

Cowards That the magic circle can still get away with charging this amount of money reflects the cowardice and/or blame culture affecting GCs. There is a large number of firms available to do the majority of work that is presently done by the magic circle at much cheaper rates, but GCs don't use those firms because a) they want the reassurance of a 'heavy hitter' firm because they don't trust their own judgement, b) because they want to be able to tell their paymasters that they hired the best if anything goes wrong afterwards, c) because their paymasters don't trust their judgement either, or d) some combination of the previous three scenarios.

17-Oct-2008

11:49 am