It is his firm billing him out at $700/hr. He's not putting that full amount into his pocket.
$700/hr for legal advice vs. $100/hr for a top software engineer – why?
61–70 of 82 posts
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#62I truly hope he is not a great iOS developer because that rate is criminally low. There is something magical that happens in the 100 pennies between 99 per hour and 100 per hour, a mental chasm that is in reality no different than 98/hr vs 99/hr but we make it into a big deal. Why he chose that number, and why people choose any number for an hourly rate is always a curious thing to me. We pick numbers that we think a…
I'm a top Android developer from the Czech Republic and usually charge about $25/hour.
Hi RivieraKid, would love to get in touch about some work - do you think you could drop me an email or let me know your address so I can contact you?
can reach me at:
HanLAyNijhfB@meltmail.com
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#63Prices are of course about supply and demand. The supply of business lawyers is limited, which keeps prices (relatively) high. What keeps supply limited? In practice, bar admission requirements are not the operative bottleneck. There are about twice as many JD's each year as there are jobs for them, and the prices for entry-level legal work (across the whole industry) have fallen far below that of entry-level enginee…
Not everyone gets the most expensive product or service. Shouldn't people be able to get cheaper lawyers? Why don't some of the unemployed lawyers create budget practices? No person or business would be willing to use them?
I seem to recall reading something about this in Freakonomics.
Price is a signal that people use for quality. Nobody wants to get discount legal advice. When things go well, you save a couple of bucks. When things go bad, you can lose a lot more.
This applies to the medical field too.
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#64Prices are of course about supply and demand. The supply of business lawyers is limited, which keeps prices (relatively) high. What keeps supply limited? In practice, bar admission requirements are not the operative bottleneck. There are about twice as many JD's each year as there are jobs for them, and the prices for entry-level legal work (across the whole industry) have fallen far below that of entry-level enginee…
In my home country, pretty much one in every 10 people with a degree is a lawyer (if I'm not mistaken, 1/3 of the world lawyers work there). Still, the hourly rates of the good ones are huge (to the tune of the aforementioned 700/h). I'm guessing it's a factor of the number of hours: you don't hire a lawyer for 8h/day - you pay for a few hours, and that is that, so at the end if the month, they sort of "cost the same" as the dev.
I know, it's a totally absurd "theory". Just my 2 cents, anyway
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#65I truly hope he is not a great iOS developer because that rate is criminally low. There is something magical that happens in the 100 pennies between 99 per hour and 100 per hour, a mental chasm that is in reality no different than 98/hr vs 99/hr but we make it into a big deal. Why he chose that number, and why people choose any number for an hourly rate is always a curious thing to me. We pick numbers that we think a…
I'm a top Android developer from the Czech Republic and usually charge about $25/hour.
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Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#66Prices are of course about supply and demand. The supply of business lawyers is limited, which keeps prices (relatively) high. What keeps supply limited? In practice, bar admission requirements are not the operative bottleneck. There are about twice as many JD's each year as there are jobs for them, and the prices for entry-level legal work (across the whole industry) have fallen far below that of entry-level enginee…
In my home country, pretty much one in every 10 people with a degree is a lawyer (if I'm not mistaken, 1/3 of the world lawyers work there). Still, the hourly rates of the good ones are huge (to the tune of the aforementioned 700/h). I'm guessing it's a factor of the number of hours: you don't hire a lawyer for 8h/day - you pay for a few hours, and that is that, so at the end if the month, they sort of "cost the same…
Out of curiosity, what country are you from?
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#67One of chef Gordon Ramsay's signature dishes is lobster ravioli with celery root cream and shellfish vinaigrette. If you were to hire Ramsay to come and make that dish for a dinner party at your house, I'd guess his hourly rate would be pretty high. Now suppose you hired Ramsay, but instead of a dinner party it was for your kid's birthday party--and all you want Ramsay to do is boil Oscar Meyer hot dogs and serve the…
Bad analogy. Partners in big firm get big bucks as the "rainmaker", legal skills are not why partners are paid well. If an attorney has only legal skills but no ability to land business, he will always be a junior partner at best or fired and replaced by a more promising graduate. Good attorneys are a dime a dozen, but rainmakers are worth three times as much.
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#68One of chef Gordon Ramsay's signature dishes is lobster ravioli with celery root cream and shellfish vinaigrette. If you were to hire Ramsay to come and make that dish for a dinner party at your house, I'd guess his hourly rate would be pretty high. Now suppose you hired Ramsay, but instead of a dinner party it was for your kid's birthday party--and all you want Ramsay to do is boil Oscar Meyer hot dogs and serve the…
Bad analogy. Partners in big firm get big bucks as the "rainmaker", legal skills are not why partners are paid well. If an attorney has only legal skills but no ability to land business, he will always be a junior partner at best or fired and replaced by a more promising graduate. Good attorneys are a dime a dozen, but rainmakers are worth three times as much.
That is not true. First, there is a common type of rainmaker who has developed a reputation as a very good lawyer. Second, the other reasons lawyers become partners are a) to reward them for their skill and loyalty to the firm, b) because of their connections which they use to negotiate, c) because of their skill in managing associates or simply the entire firm.
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#69I truly hope he is not a great iOS developer because that rate is criminally low. There is something magical that happens in the 100 pennies between 99 per hour and 100 per hour, a mental chasm that is in reality no different than 98/hr vs 99/hr but we make it into a big deal. Why he chose that number, and why people choose any number for an hourly rate is always a curious thing to me. We pick numbers that we think a…
I have the position of senior developer in Cyprus and earn 20USD an hour. I am sure developers in China earn a lot less and developers in western Europe a lot more, its just a matter of where you are rather than what you do.
Re: $700/hr for legal advice vs. $100/hr for a top software engineer – why?
#70You want to charge $700 / hour for programming ? You want to be a professional in the same sense as a doctor or a lawyer? Fine! 1. Get a PhD in computer science or software engineering. 2. Submit to state licensing, certifications, fees, examinations and codes of conduct. 3. Buy liabilty insurance in case your screw-ups hurt someone and they sue your incompetent ass. Look, doctors and lawyers have been around at leas…
I'm sorry but I fail to see your point and the need to write with that tone. Prostitutes have been around in civilizations for far longer than doctors and lawyers and yet they're still not getting paid as much. And the statement that software engineers "do nothing but programming" reeks of ignorance.