Calculating your hourly rate as a lawyer can be daunting for many lawyers at the beginning of their careers. But you'd be surprised how many seasoned lawyers struggle with finding out the "right" hourly rate as well.
If you're asking yourself, "How much does a lawyer need to charge?", "Should I charge $250 or $275 per hour?", "Is $400 too much? Too little?" then this is for you!
In this video, you'll find out how to calculate your hourly rate, what factors could affect it and what's a low-ball rate it. Nermin also shares her personal recommendations on setting your rates as a lawyer and a ton of helpful tips and tricks for experienced and newbie lawyers alike.
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00:00:00 Intro
00:02:52 How to calculate your hourly rate as a lawyer - there are 3 factors
00:05:16 How does your location effect your billable rate?
00:08:58 How does your practice area effect your billable rate?
00:11:55 How does the numbers of years you have been in practice effect your billable rate?
00:14:13 What a low-ball rate means
00:16:15 What a higher rate signals to clients
00:18:56 What most lawyers don’t include in their hourly rates
00:22:03 Nermin’s recommendations on increasing your rates
00:24:26 Ending
Why you shouldn't low-ball your hourly rate as a lawyer -
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