Billable Hours

Lawyer Dissatisfaction
Numerous lawyers are dissatisfied with the lifestyle fostered by billable hours. Many lawyers who bill their time are depressed and wish that they had chosen another profession. Billable hours lead to a lack of balance and make it difficult to do non-work-related activities. Those within the legal profession and those who are considering the practice of law need to acknowledge, address, and be aware of the drawbacks and pitfalls associated with the "6-Minute Life."

January 26 Teleseminar For Law Students
On Saturday, January 26, 2008, at 10:00 a.m., mst (Noon, est), I will be presenting a FREE one-hour teleseminar/webcast for law students about (1) finding the ideal summer clerkship; (2) finding the perfect job following law school; and (3) the effect of billable hours on the legal profession. The teleseminar will be based upon written questions submitted both before and during the presentation. The webcast can accommodate up to 2,000 participants, and the telephone bridge line can accommodate up to 200 participants. An MP3 recording of the teleseminar will be available - for a nominal fee - for those who cannot attend the free, live presentation. (…)

The 4-Hour Workweek Virtual Booktour
Here's a link to a free audio recording that I highly recommend:
http://www.timferrissbooktour.com
It is an interview with Timothy Ferriss, author of the New York Times bestseller, The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich. I have read Ferriss's book and think it contains some revolutionary content. Whether you read the book or not, however, listening to Ferriss's free interview is a must. You can either download the MP3 and listen on your iPod or other portable media device, or listen directly on your computer. (…)

Contingency Fees v. Billable Hours, Part II
Many lawyers are unhappy, and one of the chief causes of unhappiness is billable hours. A common refrain among lawyers in private practice is their expressed dislike for billing hours. I know one lawyer who splits his legal practice between contingency fee matters and billable hour matters. He has told me that he is generally happier when he is working on cases that do not involve billable hours. The key is for lawyers to seek methods of alternative billing, and to take the element of time out of how they charge for legal services. (…)

Contingency Fees V. Billable Hours
While a colleague of mine was on vacation on a cruise, he met two lawyers: a patent lawyer who bills by the hour; and a lawyer who bills for his services on a contingency fee basis. It was striking to my colleage to notice the difference in attitude and lifestyle between the two lawyers. The lawyer who billed by the hour was constantly working and exhibited stress during his vacation; he also seemed incapable of truly escaping his work. The contingency fee lawyer, on the other hand, seemed dramatically more relaxed and didn't do any work during the cruise. The projected attituded of the contingency fee lawyer was that his work would wait for him, and that he could pick up where he had left off after returning from the cruise. Are billable hours less conducive to a healthy lifestyle? (…)
In-House Lawyers Happier?
I know of a lawyer who began his legal career with a prestigious law firm and decided that the billable hour system was intolerable. The lawyer's spouse, however, didn't want him to leave his lucrative law firm job for an in-house lawyer position that would provide a lower salary. The lawyer and his spouse then struck a deal: the spouse would keep track of and record her time in 6-minute increments for a period of seven days so that she could better understand her husband's unhappiness. (…)

Diminishing Billable Hours?
The National Law Journal recently reported that certain law firms are cutting billable hour requirements. For example, Strasburger & Price in Dallas is apparently cutting the billable hour requirement for its first-year lawyers from 1,920 hours to 1,600 hours to allow more time for training and pro bono work. (…)

Lawyer Outsources His Lifestyle
The ABA Journal Law News Now recently reported that a partner at a New York law firm uses a lifestyle manager who arranges parties, helps find hairstylists, helps find friends, helps find clothes, etc. The law partner had used his lifestyle manager to organize a party at his home for 200 acquaintances, using a $5,000 budget. (…)

Angst Of Billable Hours
As I was writing Overcoming The 6-Minute Life, I met a lawyer who had previously worked for a large law firm, but was no longer practicing law. She told me that the billable hour system had driven her from the practice of law. (…)

Scott Turow: Lawyers Should Abandon Billable Hours
According to a blurb in the July 26, 2007 ABA Journal Weekly Newsletter, Scott Turow was not thrilled when his daughter considered becoming a litigator. Billable hour requirements for lawyers at large firms have risen to 2,200 hours per year or more and are a primary way in which lawyers are evaluated. (…)