Law Practice
Jun. 19, 2012
Examining the real cost of purchasing lateral talent
Part Two of a five-part series. By Edwin B. Reeser
In the first installment of this series we investigated the profitability of the "grinders," and found them to be solidly profitable when managed properly. This installment will focus on the partner with a solid work ethic and a respectable coterie of loyal clients.
The Mid-Level
Let's hire a partner with a $2 million business book. The partner's hourly rate is $700 with 1,900 billable hours recorded. The part...
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