Credit: Nuthawut/Adobe Stock Big Law Rates Continue Rising, But Trail 2023 Increases So Far
The average Am Law 50 firm upped its rates by 8% to 10% in 2024, according to bankruptcy records.
January 31, 2024 at 10:00 AM
3 minute read
Lawyer Rates and Arrangements
What You Need to Know
- The nation's largest firms are pulling back on rate increases this year compared with 2023.
- A group of Am Law 50 firms notified bankruptcy courts of annual hikes of roughly 8% to 10%.
- Several firms introduced lower starting rates for paraprofessionals.
Big Law firms appear to be dialing back annual rate increases in 2024 after raising rates more aggressively in 2023, according to an American Lawyer review of rate increase notices via bankruptcy court filings.
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