(Credit: Sutthiphong/Adobe Stock) Hourly Rates Rocket Higher, as Elite Firms Leverage Pricing Power
Legal departments are facing unprecedented financial pressure. "But when it comes to high-value work, they are willing to pay top dollar," said Owen Burman, managing director of the Wells Fargo Legal Specialty Group.
August 29, 2024 at 09:07 AM
4 minute read
Law Firm Client Relationships
The original version of this story was published on Corporate Counsel
Law firms in the first half of 2024 pushed through the highest billing rate increases in recent years, legal industry analysts say, as the most elite law firms capitalized on the reality that legal departments were going to hire them for make-or-break matters almost regardless of cost.
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