Credit: Nuthawut/Adobe Stock Where Are Big Law Billing Rates Growing the Fastest?
Some lawyers have seen a rate increase above 20%. Overall, lawyers in financial services and health care, and in markets such as Dallas and Houston, all saw notable rate hikes.
January 24, 2024 at 03:52 PM
4 minute read
The original version of this story was published on The American Lawyer
Average billing rate increases were high last year, perhaps historically so, and some industry observers already expect a similar 2024. But a new report this week illustrates the variation beneath some of the rate averages.
Nearly a third of timekeepers saw no change in what they billed in 2023, according to analysts who published the Real Rate Report—an analysis of legal invoices sourced directly from corporations' and firms' e-billing software. Meanwhile, close to 10% of timekeepers saw their rates increase by 20% or more.
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