Billing rates continued to climb in 2010 — but by only a fraction of the rate they grew during the boom years of the mid-2000s.
The average firmwide billing rate — a combination of associate and partner rates — increased by 2.7 percent in 2010, according to Legal affiliate The National Law Journal ‘s annual survey of hourly billing rates. It’s the second straight year of growth rates less than 3 percent, which is a far cry from the standard 6 percent to 8 percent increases from 2004 until 2008 and just slightly higher than the rate of inflation.
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