Credit: lucadp/Adobe Stock Law Firms Divided on Rate Increases as Economic Uncertainty Lingers
Firms are taking varied approaches to billing rate increases, weighing client incentives and the cost of inflation.
May 30, 2023 at 02:42 PM
5 minute read
Inflation, the economy and pandemic-era obstacles remain at the forefront of firm leaders' minds. Chief among a long list of concerns are billing rate increases as clients tighten their belts. How much are they willing to budget on legal spend?
"2023 is a year of uncertainty," said Ken Van Winkle, the managing partner of Am Law 200 firm Lewis Roca Rothgerber Christie. "It would be easier if we called it a crash or a boom. It could break either way."
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