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Legal Expert Warns Law Firms Against ''Suicidal Prices''

published October 16, 2012

By CEO and Founder - BCG Attorney Search left
Published By
( 1 vote, average: 2.3 out of 5)
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10/16/12

Legal Expert Warns Law Firms Against “Suicidal Prices”



Law firm consultant Bruce MacEwen in an interview with Bloomberg Law has warned that law firms are setting themselves up for failure by quoting lower prices to get work. He says that this race to the bottom is because of excess capacity in the legal industry, which results in law firms having to deal with enormous pricing pressure just to tide over their fixed costs. Added to this is the fact that there are many partners and associates in today's law firms and the huge rise in partner payouts compared to 25 years ago.

“You cannot grow that tree to the sky forever,” MacEwen says about the law firm business model. He points out that 25 years ago, the average partner in the country's top 100 law firms was paid only 11 percent higher than the average worker and today the pay is 23 times higher.

Legal process outsources (LPOs) are a new and an increasing major source of competition to the traditional law firms. The LPO industry is set to grow by 85 percent in terms of revenue in the next few years.

Alternative Summary

Harrison is the founder of BCG Attorney Search and several companies in the legal employment space that collectively gets thousands of attorneys jobs each year. Harrison’s writings about attorney careers and placement attract millions of reads each year. Harrison is widely considered the most successful recruiter in the United States and personally places multiple attorneys most weeks. His articles on legal search and placement are read by attorneys, law students and others millions of times per year.

More about Harrison

About LawCrossing

LawCrossing has received tens of thousands of attorneys jobs and has been the leading legal job board in the United States for almost two decades. LawCrossing helps attorneys dramatically improve their careers by locating every legal job opening in the market. Unlike other job sites, LawCrossing consolidates every job in the legal market and posts jobs regardless of whether or not an employer is paying. LawCrossing takes your legal career seriously and understands the legal profession. For more information, please visit www.LawCrossing.com.

published October 16, 2012

By CEO and Founder - BCG Attorney Search left
( 1 vote, average: 2.3 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.

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