Last week, @MelissaSimpson asked LinkedIn to guess the average hourly rates of a Partner at a Bay Street Law Firm. The results are in:
- 4% of respondents guessed between $200 and $300 per hour
- 4% of respondents guessed between $300 and $500 per hour
- 22% of respondents guessed between $500 and $700 per hour
- 70% of respondents guessed between $700 and $900+ per hour
A whopping 70% of more than 130 respondents guessed correctly that the average hourly rates of a Partner at a Bay Street Law firm is greater than $700/hour!
Bay Street firms are amongst the highest-paying firms in the country. The average hourly rates are:
· Senior Partner: $900 – $1,200 per hour
· Partner: $700 – $900 per hour
· Counsel: $600 – $800 per hour
· Senior Associate: $400 – $600 per hour
· Associate: $300 – $400 per hour
· Support Staff: $150 – $200 per hour
While there may be a right time to use the big firms, at greater than $700 per hour, these times are becoming few and far between. There are an increasing number of options available to companies looking for senior legal support.
Do they have to pay upwards of $700/hour to get an experienced lawyer? Absolutely not!
CEO Law has Bay Street-trained lawyers, many of whom have been Partners, and have the practical experience of having worked in companies. The hourly rate for all of our lawyers is $295/hour with even lower rates available for longer-term commitments.
Email us if you are ready to learn more.
Interested in reading more about hourly rates in Canada? The source materials used to bust this myth can be found below:
- https://careerinlaw.net/ca/lawyer-salary-canada-2022-detailed-review#:~:text=In%20Canada%2C%20Bay%20Street%20law,law%20firms%20in%20the%20country.
- https://www.businesswire.com/news/home/20230523005846/en/2024-Canadian-Law-Firm-Hourly-Rate-Report-Detailed-Hourly-Eates-for-Canadas-Largest-Firms-and-Firms-with-Practices-in-Canada—ResearchAndMarkets.com/
- https://www.globenewswire.com/en/news-release/2023/04/21/2651851/28124/en/Canadian-Law-Firm-Hourly-Rate-Report-2023-Average-Rates-by-Senior-Partner-Partner-Counsel-Senior-Associate-Associate-and-Support-Staff.html
- https://www.legal500.com/canada/