The September issue of The American Lawyer offers a preview of the Real Rate Report, a study produced by CT TyMetrix Inc., a company that audits law firm bills, and The Corporate Executive Board Co., a company that provides best practices research and analysis. They studied the bills sent to 36 large corporate clients between 2007 and 2009 — more than $4 billion worth of time sheets submitted by 90,000 people at 3,500 firms. They scrubbed the data to protect the identity of the billers and the billed. Then they got to work crunching the numbers.
A lot of interesting statistics jump out. For starters, legal bills increased at rates that exceeded inflation, in-house lawyers who spent more at a particular law firm were not getting any discounts, and partner status added nearly $100 on average to a lawyer’s rate regardless of experience.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
