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A Freshfields NQ arrives back to his flat one night to find massive amounts of water damage on account of a burst pipe. He calls a plumber. The plumber duly arrives and inspects the damage. Before getting to work, the Freshfields NQ asks to be told exactly how much the work will cost him.

"Easy chief", says the plumber, "You've called me here at 11 at night, so you attract my emergency call-out charge of £400. The work will take between one and two hours, at £400 per hour. Your parts will be £100, and there'll be VAT on the lot."

"That's obscene!" complained the Freshfields NQ. "My father sweat blood to get me into Charterhouse. I sweat my own blood to get into Oxford. My uncle sweat blood to get me a judicial assistant's role at the Supreme Court. I'm the brightest of my generation and even I can't charge my clients £400 an hour."

"No mate", said the plumber, "Nor could I when I was at Freshfields."