Many lawyers focus on the size of their portable business when pursuing a move in Big Law. While that is critical, one factor often overlooked is your hourly bill rate.
The reality is that law firms are not simply buying revenue; they are buying profitability. Higher billing rates often indicate sophisticated clients, specialized expertise, and experience handling complex matters that align with the firm’s existing platform.
Your hourly bill rate also impacts client portability. If your current clients are accustomed to paying premium rates, they are more likely to transition smoothly to an Am Law firm. Conversely, clients who are rate-sensitive may struggle with the increased costs.
This does not mean that lawyers with lower billing rates cannot make successful moves. However, they should be prepared to explain how their practice, clients, and future growth opportunities fit within the economic model of the prospective firm.
As a legal recruiter with Gold Williams, one of the first things I discuss with candidates is not just their book of business, but the quality of that business, including billing rates and realization rates. Understanding this information helps position lawyers for opportunities that are realistic and strategically aligned with their long-term career goals.
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