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Aspiring Lawyers - Applications & General Advice
Applications Discussion
TCLA Vacation Scheme Applications Discussion Thread 2023-24
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<blockquote data-quote="J53" data-source="post: 169040" data-attributes="member: 33146"><p>The way it has been explained to me is that it's effectively free labour for the client as the firm continues to pay your wages. This helps deepen the client relationship as it enables a greater closeness between the client and the firm; it will probably be one of the terms to sit on a panel that a firm gives the client x number of trainees. However, in the age of client demand for lower fees and the growth in software designed to reduce client fees through encouraging competition amongst firms to reduce their fees. This looking for cheaper deals has led many firms to question and weigh up the point of giving these clients free labour, in addition to the rest of the BD they do, which adds up to millions in unclaimed billables if the client is just going to go with whoever's bidding the cheapest for that matter.</p></blockquote><p></p>
[QUOTE="J53, post: 169040, member: 33146"] The way it has been explained to me is that it's effectively free labour for the client as the firm continues to pay your wages. This helps deepen the client relationship as it enables a greater closeness between the client and the firm; it will probably be one of the terms to sit on a panel that a firm gives the client x number of trainees. However, in the age of client demand for lower fees and the growth in software designed to reduce client fees through encouraging competition amongst firms to reduce their fees. This looking for cheaper deals has led many firms to question and weigh up the point of giving these clients free labour, in addition to the rest of the BD they do, which adds up to millions in unclaimed billables if the client is just going to go with whoever's bidding the cheapest for that matter. [/QUOTE]
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Aspiring Lawyers - Applications & General Advice
Applications Discussion
TCLA Vacation Scheme Applications Discussion Thread 2023-24
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