Intro by Alex Van Gorp, Van Gorp Legal Services
Clio, one of the most well-known law practice management software, publicizes some of the data aggregated from thousands of attorneys using their service. I found this tool insightful to give an idea of how to properly value my legal work. While each attorney or firm should factor in their own expenses, expertise, and other factors listed in the Indiana Rules of Professional Conduct Rule 1.5 to arrive at an appropriate billable rate, it definitely helps to know where the market is generally at. This tool breaks down the average rates by state as well as practice area. I discovered I am significantly undervaluing my time and I am probably due for a reassessment. We lawyers are notoriously opaque with our pricing, even to our own detriment, and this tool from Clio is at least a step in changing that.
Check out the tool here.
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