Of the 20 managing partners interviewed by Lawyers Weekly, 47 per cent said they will be increasing their rates in 2013.
The survey, released today, was met by surprise by other legal leaders in the jurisdiction; with Melbourne-based consultant John Chisholm claiming that the lethargic legal market would not react well to a rise in fees.
Lawyer ability
Mr Chisholm cited increasing competition, discounts on rack rates, clients complaining about legal fees and fixed and capped fees in his worries over the fee hike. He also suggested firms are basing their fee increase on the ability of their lawyers who have moved through the ranks, which may not convince clients.
‘Most firms will need to get used to operating with lesser fees and working harder and smarter to increase the margins they get from the lesser fees,’ he said.
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