Credit: Feodora/Adobe Stock Billing Rates Accelerated Again. Big Law Will Likely Keep Foot on the Pedal
Rate increases, by an average of nearly 8%, have helped the industry see an uptick in revenue between the second and third quarters.
November 16, 2023 at 04:23 PM
4 minute read
The original version of this story was published on The American Lawyer
During a period of relatively flat demand, billing rate hikes continue to drive Big Law revenue, according to a new report this week, as law firms on average rose rates by 7.9% by the third quarter, the highest mark since at least the Great Recession period.
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