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I have a little familiarity with such systems. Revenue generation is defined not only as the revenue the individual lawyer collects from their clients, which is
by forapurpose 9y ago
I have a little familiarity with such systems. Revenue generation is defined not only as the revenue the individual lawyer collects from their clients, which is relatively straightforward to calculate, but more significantly as the business the lawyer generates for the firm - by being a 'rainmaker'. Calculating who gets how much credit for a new client is much harder, and much more prone to biases both unconscious and intentional.
A lawyer, like an IT professional, has only 2000 hours per year to bill; you can't increase that number more than marginally. But you can generate far more billable hours for your firm by bringing in new business; a large corporate client could keep many lawyers busy for their entire careers. I know of lawyers who were poor at practicing law but they were highly paid partners and it was well-earned: They brought in far more than 2000 hours for their firm.
- itsdrewmiller 9y agoIsn't this usually still quantified and shared though? I doubt her 2 million in revenue from the article is just what she personally billed.
- forapurpose 9y ago> I doubt her 2 million in revenue from the article is just what she personally billed. I've heard of top lawyers billing $1,000 per hour or more, so $2m is within reach.