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http://hlrecord.org/wachtell-announces-new-billable-hours-target-higher-bonus/
0. 1240. BY SEYMOUR GREEN. Wachtell, Lipton, Rosen, & Katz, already known for its grueling hours and astronomical bonuses, announced this week that it will be increasing its official billable hours to 4500 a year. However, it has promised to make up for the increased hours with a higher base pay and increased year-end bonuses.
https://www.nalpdirectory.com/employer_profile?FormID=13392&QuestionTabID=39
What is the minimum billable hour requirement for non-traditional track attorneys? Please include any additional information about non-traditional track positions (including mentoring, evaluations, billable hours, training, benefits, opportunities for pro bono work, etc.)
https://www.top-law-schools.com/wachtell-lipton-rosen-katz.html
Although Wachtell Lipton has no explicit billable hour requirements, expectations reportedly hover around the 2700 mark depending on deal volume, and billing 3000 hours in a year is not uncommon. This number vastly exceeds the already high billable averages of NYC BigLaw, which more often fall in the 2000-2400 range depending on the firm and ...
https://dealbook.nytimes.com/2015/01/09/a-peek-into-how-wachtell-bills-for-deals/
Updated, 12:42 p.m. | For most law firms, work on mergers and acquisitions is paid by the usual model of billable hours. And then there is Wachtell, Lipton, Rosen & Katz. Thanks to a client letter obtained by The American Lawyer, the wider world now knows how Wachtell — regarded as one of the premier legal deal shops around — makes its money, at least when it comes to M.&
https://www.nalpdirectory.com/employer_profile?FormID=13392&QuestionTabID=40
% Firm Billable Hours last year: Average Hours per Attorney last year: ... Does the organization set annual goals regarding the minimum number of pro bono hours to be contributed by the organization? ... Wachtell Lipton successfully vacated the murder conviction and life sentence of George Bell as part of a joint application in Queens County ...
https://abovethelaw.com/2015/08/wachtell-lipton-goes-big-brother-on-its-lawyers/
Wachtell Lipton Goes ‘Big Brother’ On Its Lawyers ... And, most famously, the firm did not have — and, as far as I know, still does not have — a formal billable-hours requirement. In short ...
https://law.yale.edu/sites/default/files/area/department/cdo/document/billable_hour.pdf
interest employers typically do not have any billable hour requirements because they do not bill their hours to a paying client. A. The Full Time Job: Target 1800 Billable Hours Assume you “work” from 8:00 am - 6:00 pm each day 10.0 Assume you take an hour for lunch -1.0 Assume you take two 15 minute coffee breaks - .5
https://abovethelaw.com/2014/08/flashback-friday-billable-hours-in-the-1990s/
Sullivan & Cromwell: NA; average day is 12 hours. Wachtell Lipton Rosen & Katz: NA; average day 9-9:30 a.m. to 10 p.m. Weil Gotshal & Manges: NA; average day from 9-9:30 a.m. to 7-8 p.m.
https://www.quora.com/How-does-Wachtell-Lipton-Rosen-Katz-dominate-the-field-of-mergers-and-acquisitions
As Cliff G. has noted, 2500 hours equates to an average of 50 billable hours per week, assuming 2 weeks of vacation. No (honest) lawyer bills at 100 percent efficiency--there will always be lunches, down time, non-billable activity, and work that cannot be passed on to the client--so 50 billable hours likely requires somewhere in the neighborhood of 58-65 actual hours of work per week.
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