/PRNewswire/ -- Corporate Executive Board (CEB) (NYSE:EXBD) , a leading research and advisory services company, today announced the release of the Real Rate Report(TM), an analysis of over $4.1 billion in legal billing fees. The report is produced jointly by CEB's Legal and Compliance Practice and CT TyMetrix and helps general counsel make better-informed business decisions by providing an objective look at invoice data to understand and quantify what is driving the billable hour.
"The Real Rate Report(TM) responds to companies' need for actual legal cost information to assist in planning, budgeting, and negotiating with their outside law firms," said Steven Williams, managing director, Corporate Executive Board. "The report is a great addition to the broader set of services we provide to CEB's more than 1,000 member legal departments to help them reduce legal costs and drive corporate performance."
Key findings of the Real Rate Report(TM) include:
The five most important factors driving law firm rates
-- Lawyer location, law firm size, experience level, partner status, and
key practice area are the top factors impacting hourly rates today.
-- Hourly rates are influenced significantly more by a lawyer's
geographic locale and law firm size than by that lawyer's experience
or practice area.
Geographic rate disparities
-- Large, tier one markets have seen smaller percentage rate increases
than some other markets--specifically in Southern cities.
-- Smaller metropolitan areas, such as Denver, St. Louis, and Raleigh,
remain relatively inexpensive compared to large markets such as like
New York, Washington, D.C., and Chicago.
Partner vs. associate rate increases
-- Between 2007 and 2009, associates had the largest percentage increase
in hourly rates - 16.6 percent -- compared to 8.6 percent by partners.
-- Associates with fewer than three years of experience had the highest
percentage increase -- 17.9 percent.
"The Real Rate Report(TM) is a ground-breaking resource for all law firms and corporate law departments looking for pricing data to build aligned, mutually beneficial partnering models," said John Weber, general manager, CT TyMetrix. "We are proud of this report, as well as the other CT TyMetrix's innovations that enable law firms and law departments to optimize their legal operations."
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Tuesday, September 7, 2010
Thursday, August 12, 2010
Libertarians call federal worker pay gap 'appalling'
Recent data from the Bureau of Economic Analysis show that federal government workers get compensation, on average, more than twice as high as private-sector workers. That gap has expanded dramatically over the last decade. Libertarian Party Chair Mark Hinkle released the following statement today:
"The numbers are appalling. In 2009, the average private-sector worker received $61,051 in total compensation, but the average federal government worker received $123,049. There is no excuse for this enormous, and growing, compensation gap.
"I guess you just can't beat a federal job. Very high pay, unbelievable benefits, extremely generous retirement plans, and near-perfect job security.
"And those retirement plans are often unfunded pensions, which will have to be paid by taxing our children and grandchildren, who never had the opportunity to vote when they were created.
"Apparently wishing to add insult to injury, government employee union reps have claimed that federal workers are entitled to their sky-high compensation because they are more educated and skilled than the rest of us. I have had many personal experiences with federal employees that indicate the exact opposite.
"The problem is that federal worker compensation is not set by the free market -- it's set by government fiat, which causes it to be artificially generous. Another factor is the monopoly government employee unions, which are able to extort that compensation up to even higher levels.
"One sure sign that federal employees are overpaid is that they never quit. Tad DeHaven of the Cato Institute has noted, '...in 2009, private sector employees quit at a rate that was more than eight times higher than federal employees.... This indicates that federal employees recognize that the generous combination of wages, benefits, and job security is hard to match in the private sector, so they stay put.'
"Libertarians support minimum government and maximum freedom. Unfortunately, federal employees have incentives to make government bigger, which makes us less free. With government employment paying more than the private sector, the rational self-interest of many workers will drive them to seek employment with the federal government.
"That's a formula for disaster.
"Libertarians want productive people working in the private sector to build our economy, not working for the government and hurting our economy.
"I would like to see an across-the-board pay cut for all federal workers. That would reduce federal spending, reduce the deficit, and reduce the insult to American private-sector workers. It also just might encourage some federal government employees to quit their jobs and seek more productive work in the private sector."
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Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page
Follow us on Twitter: @GAFrontPage
"The numbers are appalling. In 2009, the average private-sector worker received $61,051 in total compensation, but the average federal government worker received $123,049. There is no excuse for this enormous, and growing, compensation gap.
"I guess you just can't beat a federal job. Very high pay, unbelievable benefits, extremely generous retirement plans, and near-perfect job security.
"And those retirement plans are often unfunded pensions, which will have to be paid by taxing our children and grandchildren, who never had the opportunity to vote when they were created.
"Apparently wishing to add insult to injury, government employee union reps have claimed that federal workers are entitled to their sky-high compensation because they are more educated and skilled than the rest of us. I have had many personal experiences with federal employees that indicate the exact opposite.
"The problem is that federal worker compensation is not set by the free market -- it's set by government fiat, which causes it to be artificially generous. Another factor is the monopoly government employee unions, which are able to extort that compensation up to even higher levels.
"One sure sign that federal employees are overpaid is that they never quit. Tad DeHaven of the Cato Institute has noted, '...in 2009, private sector employees quit at a rate that was more than eight times higher than federal employees.... This indicates that federal employees recognize that the generous combination of wages, benefits, and job security is hard to match in the private sector, so they stay put.'
"Libertarians support minimum government and maximum freedom. Unfortunately, federal employees have incentives to make government bigger, which makes us less free. With government employment paying more than the private sector, the rational self-interest of many workers will drive them to seek employment with the federal government.
"That's a formula for disaster.
"Libertarians want productive people working in the private sector to build our economy, not working for the government and hurting our economy.
"I would like to see an across-the-board pay cut for all federal workers. That would reduce federal spending, reduce the deficit, and reduce the insult to American private-sector workers. It also just might encourage some federal government employees to quit their jobs and seek more productive work in the private sector."
-----
Community News You Can Use
www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page
Follow us on Twitter: @GAFrontPage
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