The billable hour is “still alive and well,” said Kent Zimmermann of law firm consultancy Zeughauser Group. “The most recent data that we’ve seen indicates that [only] 19% of all fees paid to” big law are alternative fee arrangements.” The final installment of our video series with Zimmermann is all about the billable hour; the pressure that law firms are getting from GCs to move away from it, and the slow but steady move toward alternative fee arrangements.
Part 1: ‘Eye-Popping’ Lateral Deals Scare Big Law Chairs, Says Law Firm Consultant
Part 2: ‘Some Firms Don’t Have the Guts to Close Offices,’ Says Zimmermann
Part 3: Worry Over Big Law Cybersecurity
Part 4: Why High Performing Law Firms Are Losing Talent