From what I've read, It purely depends on a firm-to-firm basis whether it wants to bill hourly or resort to alternative billings. About 60% of clients in CAM & Spice Rought Legal are billed hourly. Still, the distribution of clients could vary drastically depending on its practice area i.e. Gen Corp could be billing 95% of its clients hourly while the same firm's M&A could be using alternative payment methods entirely.
And yes, hourly billing has been a common practice for a long time. Some firms have also developed their in-house software to keep track of the hours put in and maintain transparency with their clients.
There are some threads where Senior Counsel pay is discussed. Like that - Law Firm Insiders (Associates, Business Executives)
Let's make a list with the hourly rates charged by your law firm - Depending on Level - AO, SA - Partner, Practice Area - Gen Corp, Cap Marks or Firm name.
There are firms which have different modrls of billing models - % cut of the deal.
Let's see which firms are the most competitive in this aspect. Numbers don't have to be perfectly accurate - a range is more than enough.
And yes, hourly billing has been a common practice for a long time. Some firms have also developed their in-house software to keep track of the hours put in and maintain transparency with their clients.
Billing rates: https://infogram.com/web-i2210-billing-rates-4-grace-1hxj48pdnpxo52v
Hourly vs. Alternate billing: https://infogram.com/web-i2210-billing-rates-2-grace-1hmr6g7rypqqo6n
Source: India Law Firm Billing Rates 2022 | Law.asia
Let's make a list with the hourly rates charged by your law firm - Depending on Level - AO, SA - Partner, Practice Area - Gen Corp, Cap Marks or Firm name.
There are firms which have different modrls of billing models - % cut of the deal.
Let's see which firms are the most competitive in this aspect. Numbers don't have to be perfectly accurate - a range is more than enough.