The Hourly Rate is Dead - Long Live the Hourly Rate

I always wondered what the phrase, "The King is dead. Long live the King" means. If the King is dead, why are the next words, "long live?" According to Wikipedia, the phrase is a traditional proclamation made following the accession of a new monarch. I am reminded of this phrase every time I read about the death of the hourly rate and presumably the "accession" of the alternative fee arrangement (AFA). Well, to paraphrase Mark Twain, "the reports of the death of the hourly rate have been greatly exaggerated."

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Categories: Practice Management
I was one of those stealth layoffs you don’t read about in the newspapers. Talented partner at a large downtown firm with no book of business asked to leave. Looking back, during the first few months of my job search, I was paralyzed and accomplish…" Read the rest
– Solo practitioner, St. Paul, MN

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