ACC blog post notes that Jones Day is charging Chrysler hourly rates ranging from $400 per hour for the youngest lawyer to $950 per hour for the most experienced.
Wow. Let’s run the numbers. Assume that because work is slow, the $400 lawyers work only 2000 hours per year. That’s $800,000 of revenue. Salary, benefits and overhead are, say, $300,000. That cool half a million dollars of net profit per baby lawyer is not bad.