Well, since you're here, doesn't this automatically lend a certain authenticity to this website? I mean, you could be billing a client right now hehe. But thank you !
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.
Firstly, discussing these matters in a 4chan website like Legally India is unethical. So Associates, please be careful about discussing private deal matters and fees. And hourly billing is rare in Indian firms.
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.
I mean, you could be billing a client right now hehe. But thank you !
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.