Asked what billing rates they typically pay to outside counsel, 73 percent of responding corporate counsel reported that they negotiate discounted rates with their law firms. It seems their negotiation skills are paying dividends. Here’s the kind of discounts they’re achieving, compared against the standard billing rates that CMOs at AmLaw 100 and 200 law firms say they charge.
Negotiated Billing Rate Discount:
For Senior Partners 18.3% less
For Partners 24.4% less
For Associates 13.7 % less
From “BTI's Billing Rate Reference for the Legal Services Industry 2003” and _“BTI's 2003 Survey of CMOs at Leading Law Firms.” For details, visit The BTI Consulting Group, Boston at www.bticonsulting.com.