Worked billing rates were up 6.4% in Q1, the highest quarter-over-quarter increase since at least the Great Recession, noted Thomson Reuters' Bill Josten.
May 06, 2024 at 05:00 AM
4 minute read
Editorial
Litigation practices remain a “bright light” for law firms now, while billing rate increases in the first quarter are continuing to drive Big Law financial gains, according to a new report.
The Law Firm Financial Index report from Thomson Reuters found that worked billing rate growth, much like the standard rate increases tallied by other organizations, continues to reach new heights as it drives revenue and profit gains in 2024.
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