Credit: Nuthawut/Adobe Stock Big Law's Approach to Billing Rate Hikes in 2024
"There's a lot of people trying to play a little bit of catch-up, and they'll run out of opportunity runway if there's a recession," said Mark Medice, a principal at LawVision and law firm consultant.
October 30, 2023 at 05:00 AM
5 minute read
Law firms implemented some of the highest billing rate increases in recent memory in 2023. And law firms are likely to push through similar increases in 2024 amid rising expenses and lingering regret among some firms that feel they didn't go far enough this year, analysts say.
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