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Aspiring Lawyers - Applications & General Advice
General Discussion
Why a higher ratio of fee earner to partner hours results in a higher profitability?
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<blockquote data-quote="D" data-source="post: 27175" data-attributes="member: 540"><p>This may be very rudimentary, but:</p><p></p><p>Trainee billable rate: £300 p/h</p><p>Trainee Salary: £50,000</p><p></p><p>Partner billable rate: £1000 p/h</p><p>Partner Salary: £1,500,000 - £3,000,000</p><p></p><p>Just from this incredibly rudimentary assessment, you can see that Trainees are very "efficient" in terms of their cost.</p><p></p><p>Even if you take a US NQ Salary, at the top whack of £150,000, it's still much more efficient for a fee earner to be doing the work.</p><p></p><p>Of course, it is a bit of a chicken/egg scenario - The partners need to win the work for the fee earners to work on!</p></blockquote><p></p>
[QUOTE="D, post: 27175, member: 540"] This may be very rudimentary, but: Trainee billable rate: £300 p/h Trainee Salary: £50,000 Partner billable rate: £1000 p/h Partner Salary: £1,500,000 - £3,000,000 Just from this incredibly rudimentary assessment, you can see that Trainees are very "efficient" in terms of their cost. Even if you take a US NQ Salary, at the top whack of £150,000, it's still much more efficient for a fee earner to be doing the work. Of course, it is a bit of a chicken/egg scenario - The partners need to win the work for the fee earners to work on! [/QUOTE]
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Aspiring Lawyers - Applications & General Advice
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Why a higher ratio of fee earner to partner hours results in a higher profitability?
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