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We are part of today’s legal revolution.
Join the revolution, the new way of practicing law. If you are a lawyer or general counsel who wants to set yourself free from the usual billing targets, law firm bureaucracy or office drudgery, talk to us. Our platform lets you work when you want to and where you want to.
ARE YOU A HONG KONG SOLICITOR WHO WANTS A WORK LIFE BALANCE?
YOU ARE SENIOR ASSOCIATE IN A LARGE FIRM:
Your charging rate is HK$5,000 per hour
Your billable hours target is 1800 hours per year
Your billing target is HK$6.5 million per year
Your salary is HK$2 million.
You work from 9.30am to 7.30pm every day = 10h
You take an hour for lunch
You take 2 x 15 minute bathroom / coffee breaks
You spend 30m a day reading non-chargeable emails
You average 30m a day reading legal updates
You average 30 minutes a day on departmental meetings
This means you work 10h a day but bill only 7h
In 5 days you will bill 35h
You take 4 weeks paid holiday a year
So you work 48 weeks a year x 35h and recorded only 1,680 billable hours.
To make your appraisal you can add 120h or 2.5h a week over 47 weeks
So you start at 8.30am and leave at 7.30pm Monday to Friday
Or you come in on Saturdays and record 2.5h billable hours each time
Then you make your hours target and record 1,915 hours
You spend 45m each way travelling to work so you are “working” from 7.45am to 8.15pm
You manage to recover (ie bill) just under 60% of your recorded time or 1,100 hours
You bill HK$6.5 million
So you are earning HK$2 million nearly one third of your billings.
This is the classic “one-third” ratio.
(Figures taken from asialawportal.com HK legal salary survey 2020-2021, published October 2020. Senior associate average HK$1,400,000, 75th percentile HK$1,700,000, 90th percentile HK$2,438,000. Salaried partner average HK$1,800,000, 75th percentile HK$2,450,000, 90th percentile HK$10,440,000.)
OR YOU CAN TALK TO US AND FIND OUT HOW TO GET SOME BALANCE IN YOUR LIFE
If you are interested please contact Guy Facey for a confidential discussion:
Phone +852 6396 0064