AVAILABLE OPPORTUNITIES (312) 781-9000
14 Mar

Billing Rate Gap Widens as Big Firms Demand Higher Rates, Report Finds

by: Astor Professional Search

The American Lawyer released a recent report, conducted by LexisNexis’ legal pricing data service, CounselLink, which revealed the gap between partner hourly rates for firms with 750+ lawyers and firms with 501-750 lawyers continues to grow. According to the report, the gap between the two groups widened by 11 percent over 2016, with the bigger firms now demanding a whopping 45 percent higher rate on average than their less gigantic counterparts.

The report also revealed rate increases were higher and more widespread than in previous years. The report showed that Seattle, Chicago, Los Angeles and Boston all rivaled New York for partner billing rate increases. The Big Apple firms still led the pack, with a 5.7 percent growth rate. But firms in those other cities experienced greater than 4 percent annual growth in their rates. Nationwide, partner rates increased an average of 3 percent, with Minnesota, Georgia, Oregon and California seeing the highest increases on a statewide basis, (as quoted in The American Lawyer).

See highlights from the full article on The American Lawyer.

Contact Bill Sugarman for more information.

Share it here
Related Posts
27 Apr Astor President Bill Sugarman Quoted in Law360, Discussing the Midwest Legal Market
Astor President Bill Sugarman Quoted in Law360,...

Astor Professional Search president Bill Sugarman quoted in Law360, discussing the Midwest legal market: http://www.law360.com/...

30 Apr Reuters interview of Bill Sugarman analyzing the growing competition for attorney talent in Chicago’s legal market
Reuters interview of Bill Sugarman analyzing th...

(Reuters) – Schiff Hardin is stepping into a hot merger market that may put it in competition with other firms feeling pressur...

19 Jul Bill Sugarman Quoted in Crain’s Chicago Business
Bill Sugarman Quoted in Crain’s Chicago B...

Astor Professional Search President Bill Sugarman was recently quoted in Crain’s Chicago Business regarding one of the most vi...