How Client Rate Pressures Have Changed Rainmaking

By Natalie Rodriguez (August 15, 2017, 5:17 PM EDT) -- Twenty years ago, top lawyers — the rainmakers — could send a client a bill consisting of one line: "For services rendered," along with a dollar amount. They didn't worry that amount wouldn't be paid.

Now, when lead attorneys send out 50-page bills showing how work was done in five- or 10-minute increments, they know to carve out time for post-bill haggling over what will actually get paid, according to several experts.

This is just one way the practice of law has changed dramatically for rainmakers over the last two decades, and especially over the past few years. Lately, companies have...

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