Do you think Professional fee's are justified?

IzZzy

Executive Member
Joined
Feb 17, 2004
Messages
5,807
#1
By professional I am referring to lawyers, doctors, architects, accountants and engineers.

While I can hazard a guess as to the probable outcome of the result, my personal views are that they "kind of" are.

From my perspective as a future lawyer and having to study my ass off for four years learning the rules/laws/principles of just about every facet of life.. I want to be recognised for it by having a nice pay cheque each month. Though I do recognise that fee's do tend to get rather excessive.

So what's your views? I admit this is a slight rant as presently I am having to study the boring, inane provisions of the Road Accident Fund Act...
 

Hobagoas

Well-Known Member
Joined
Sep 9, 2005
Messages
492
#3
Classic opportunity costs. You made the decision to not enter the working world straight after school deciding to rather further your education and forego the money you could be earning today in the hope that with your qualification you will be able to earn more in the future than if you had not studied. So in that sense, sure, earning a nice paycheque is justified. But man, some fees of lawyers especially are just wack.

Enjoy the RAFA whilst I finish my paper on the Currency Crisis in Mexico 1994/1995 :p
 
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Picard

Guest
#4
Easy.

Professionals are the people that can react the quickest to changes in the economic prosperity of a society.

If they need more money to maintain a certain lifestyle because whatever reason ... they just raise their fees.
 

IzZzy

Executive Member
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5,807
#5
But man, some fees of lawyers especially are just wack.

Enjoy the RAFA whilst I finish my paper on the Currency Crisis in Mexico 1994/1995 :p
Yup, especially the Advocate of Robert McBride at R3000 p/h.

Enjoy the paper! I somewhat feel consoled by the RAF now :p
 
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Picard

Guest
#6
This is the reason why some plumbers and craftsman sometimes earn more money than many people with academic tertiary qualifications.

My cousin is an electrician. As stupid as a stump. But he makes an out-house full of money.
 
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Ou grote

Honorary Master
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Sep 3, 2007
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15,472
#7
Yup, especially the Advocate of Robert McBride at R3000 p/h.

Enjoy the paper! I somewhat feel consoled by the RAF now :p

That's not expensive.
There's law clerks etc, salararies that goes into that.
Advocate's don't do all their own resarch.
Law firms cost a lot of money to run.
 
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Picard

Guest
#8
That's not expensive.
There's law clerks etc, salararies that goes into that.
Advocate's don't do all their own resarch.
Law firms cost a lot of money to run.

JC. If they work a bit less than 3 hours they get what I make in a month. And don't tell me they are that much intellectually superior than I.
 
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bodhi

Executive Member
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Sep 6, 2007
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5,167
#9
By professional I am referring to lawyers, doctors, architects, accountants and engineers.
Yes , the fees professionals charge are warranted.

Why - because of the professional status of the above-mentioned careers.
 

dominic

Legal Expert: Telecoms
Joined
Sep 7, 2004
Messages
7,281
#10
look at what you are paying for...

competence or a large building with nice coffee (often they go together but not always)

without being arrogant i know there are lawyers charging three times as much as i do simply because i prefer to be self-employed whereas they have a bucketload of overheads to cope with
 

HavocXphere

Honorary Master
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Oct 19, 2007
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31,488
#11
The price is to a certain extent set via supply/demand. There are simply not enough competent people around...consequently their fees are sky high.

They must however also tread more carefully due to fines left right and center. e.g. Under the new-ish Anti-Money laundering regulations, accountants can get a R1 Billion fine if they are caught ML. (Yes, thats billion with a B)
 

HavocXphere

Honorary Master
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31,488
#13
What is so professional about being a doctor or lawyer? You can be a professional at anything.
That's the modern interpretation of the word.
Definition

A professional is a worker required to possess a large body of knowledge derived from extensive academic study (usually tertiary), with the training almost always formalized.

Professionals are at least to a degree self-regulating, in that they control the training and evaluation processes that admit new persons to the field, and in judging whether the work done by their members is up to standard. This differs from other kinds of work where regulation (if considered necessary) is imposed by the state, or where official quality standards are often lacking.
 

Natas

Expert Member
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Sep 19, 2006
Messages
2,265
#15
I'm a lawyer, although I am not in practice anymore, it must be understood that people like lawyers sell only one thing.. their time... this is all we can sell. How this getstranslated into the real world is professional fees.. the fees get higher the more you are in demand... ie you have a finite amoutn of time in any given day, so the upper limit of your fees is how much you can charge fir your time and still keep yourself perpetually busy.
 
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