Re:Atrium shuts down, laying off 100
by gnicholas on Wednesday March 04, 2020 @01:20AM
(#22481601)
> they would quickly grow more clients by providing a cheaper service
Law firm prestige is measured in part by billing rates, which firms almost never (except 2008) lower. If a firm lowered rates for any reason, associates would start getting worried/jumping ship. I'm not saying it's rational, just that the field is prestige-based, and associates would freak if they saw their billing rate drop. It would be seen as a harbinger of lower salaries or lousy bonuses on the horizon, no matter how the firm spun it.
Law firm prestige is measured in part by billing rates, which firms almost never (except 2008) lower. If a firm lowered rates for any reason, associates would start getting worried/jumping ship. I'm not saying it's rational, just that the field is prestige-based, and associates would freak if they saw their billing rate drop. It would be seen as a harbinger of lower salaries or lousy bonuses on the horizon, no matter how the firm spun it.