Lawyers have trouble talking about money. That’s a gross generalization, but it’s one I’ve come to after spending the last month listening to partners, in-house counsel, and the latest breed of expert who is helping firms, the pricing specialist. Some of this is personal: Embarrassment, anxiety, introversion, and habit all play their parts. Together they help explain why the hourly rate thrives and why so many arguments about legal costs are beside the point. It’s easier to quibble about marginaliawhy is there a third second-year on this filethan to address the heart of a matter: What’s this worth to me, and can we afford to buy it or produce it for that price?
I know this is pretty rich coming from one of the purveyors of annual surveys that announce average profits per partner. But here I’m not addressing the willingness of lawyers to discuss their own finances; there’s no shortage of interest in addressing that subject. Rather, my concern is with the failure of lawyers to talk about money in an unembarrassed, active manner with their clients. And I draw a distinction between a true discussion of price and the downward-facing-dog position of agreeing to every request for a discount or a write-down. That’s not law firm management, it’s managing a paper-cluttered souk.
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