No to City rates
A number of readers of the Legal Costs Blog receive this via email or feeds. They will therefore usually miss out on some of the interesting comments that are added by those who read online.
On a previous post, on the subject of whether personal injury work should attract “City rates”, Jacques Hughes provided an answer so definitive that I must share this with all readers:
“The argument is just silly. PI and commercial work inhabit fundamentally different markets, and PI lawyers delude themselves if they think otherwise. Compare a topnotch PI practice like Irwin Mitchell to a real City firm and ask: does the PI firm have a 24 hr secretarial service? Does it have a 24/7/365 reprographics department capable of handling, say, 20 million pages a year? Do staff have to be paid to work all hours in order to liaise with NYC and Hong Kong? Does it have a library of 10,000 volumes plus, with subscriptions to all major Commonwealth and American law reports and journals? Does the PI firm have to run a recruitment drive targeted at the best candidates at Oxbridge and equivalents in the US & Australia, paying trainees 50K plus packages? Do middling assistants expect salaries in the 150K + bracket? Are international travel and worldwide offices a major PI overhead? The answer to all of these question is consistent, obvious, and negative. City rates for PI work is a nothing more than a mirthless joke.”