Thursday, January 03, 2008
Happy New Year! - Deflate the Rate
-David Lat, "Profits vs. Partners", New York Observer.
On the above chart, I have superimposed in red C.A. hourly rates. While profits per partner, agency profits, and law school tuitions continue to skyrocket, some firms/agencies are taking advantage of the New Year by not only trying to freeze hourly rates, but deflate them, as well!
"25 temp attorneys needed for document review starting Jan 14th - Must be licensed in NY and have experience. 2-3 months, 34.00/hr straight time - 50 hours a week"
Remember, inflation? $35 in 2004 was worth much more than $35 is today.
Are we just going to sit back like a bunch of quiet, docile, buttoned down professionals, while our hourly wages continue to plummet into the toilet? I think not.