Firms Hire Price Watchdogs As Clients Up Cost Pressure
Law360, New York (May 14, 2013, 7:00 PM EDT) -- The formation of a new profession within law firms — the legal pricing specialist — is underway as pressure from clients to reduce legal costs is pushing firms to dedicate personnel to a hybrid role of fee analyst, client negotiator and project watchdog, industry experts say.
The job of pricing specialist, still a relative rarity among BigLaw firms, has found a strong foothold in an industry searching for ways to maintain profits and appease clients demanding multiple-choice fee options, budget management and pricing transparency.
Across the growing profession, "it's still very chaotic and a bit of a moving target," said Toby...
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