BigLaw Will Discount Deep To Keep Big Clients Happy
Law360, New York (August 5, 2014, 8:40 PM EDT) -- A recent survey shows law firms typically charge their largest clients 13 percent less than their standard hourly rates — discounts experts say stem from pressure exerted on firms during negotiations by large companies that feel the high volume of work they’re giving the firms entitle them to lower rates.
In a joint survey of close to 1,100 private-practice lawyers and corporate counsel by Law360 and The BTI Consulting Group, corporate counsel reported receiving an average discount of 15 percent, while law firms reported handing out an average 12.7 percent discount to their largest clients. BTI president and founder Michael Rynowecer...
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