Are Lower Billables Start of a Trend?
Posted Oct 23, 2007 7:45 AM CDT
By Debra Cassens Weiss
Some midsize law firms are cutting billable hour requirements, perhaps ushering in change at other law firms, the National Law Journal concludes.
“Such a strategy is something other law firms say they are contemplating and could represent the advent of a change in the industry that many contend is long overdue,” the story says.
Among the law firms that have cut billables or changed the requirements are:
--Atlanta-based Ford & Harrison, which abandoned any requirements.
--Dallas-based Strasburger & Price, which cut the requirement from 1,920 to 1,600 hours.
--Chicago-based Chapman and Cutler, which allows associates to choose whether to work fewer hours at lower pay or more hours at higher pay.
--Boston-based Lowrie, Lando & Anastasi, which requires only 1,600 hours but pays about $30,000 less to first years than other comparable firms.