Lawyer Rates & Arrangements

Competitive intelligence and news on billing rates, evolving rate pressures and alternative pricing.

International Edition

Kirkland Pulled in $165M in Fees Advising Blackstone

By Greg Andrews | February 27, 2024

The private equity giant made the unusual disclosure to comply with conflict-of-interest rules that kicked in when Kirkland partner Reginald "Reg" Brown joined its board in 2020.

2 minute read

International Edition

Will AI Kill Off the Billable Hour Someday?

By Maria Dinzeo | February 14, 2024

"The people who regulate the profession are the profession. They are judges and members of the bar. So what incentive do they have to give away that control to the machine?" said Foster Sayers, vice president of legal ops at health tech company symplr.

7 minute read
International Edition

Top Big Law Partners Are Earning More Than $2,400 Per Hour, as Rates Continue to Climb

By Dan Roe | January 10, 2024

Dechert has hiked its rates for top partners by 20%, while McDermott is charging top partners out at $2,590 hourly, according to recent bankruptcy court filings.

3 minute read

International Edition

A&O and Shearman Offer Partners Financial Incentive to Stay with Combined Firm

By Jack Womack | December 20, 2023

The merger of the two firms is due to formally take effect in May 2024, with 99% of partners at both firms approving the plans in October.

2 minute read
International Edition

'It Just Isn't Worth My Time' Say Slaughter and May Associates of Pro Bono

By Charlotte Johnstone | December 8, 2023

The associates say they work long hours just to do their regular work and that there's no time for hours on pro bono.

3 minute read
International Edition

Associate Pay Raises Escalate GC Fears of Billing Rate Hikes

By Andrew Maloney | Chris O'Malley | November 13, 2023

Some GCs are voicing concerns about further rate hikes after associate pay raises. But Milbank's chair said the salary raises wouldn't have a material effect on its billing rate decisions in the future.

5 minute read
International Edition

Big Law's Approach to Billing Rate Hikes in 2024

By Andrew Maloney | October 31, 2023

"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.

5 minute read
International Edition

Is Generative AI Coming For Your Billable Hours?

By Rhys Dipshan | September 27, 2023

Some disruption to law firm pricing is inevitable, but just how far that spreads is an open question.

9 minute read
International Edition

Will Innovation Help Law Firms and Clients Control the 'Cost Monster'?

By Andrew Maloney | Chris O'Malley | September 19, 2023

Amid rising billing rates, there's fresh optimism that innovation, not only on pricing plans but because of AI-related spending and projects, can lower costs on both sides.

5 minute read
International Edition

Big Law in September Will Raise Volume on Billing and Collections Push

By Andrew Maloney | September 5, 2023

Common billing reminders often begin in September, from managers asking partners in meetings to pledge what they think they're going to collect, to some managers going door-to-door in the office to discuss it.

5 minute read
The American Lawyer

Why Big Law Firms Are Expanding in US Regional Markets

By ALM Staff | February 29, 2024

Where Am Law 200 law firms are putting down roots, the reasons behind expansion in emerging markets, and what these moves mean for their clients.

2 minute read
Corporate Counsel

Longtime Law Firm Partner Going In-House to Help Companies Control Legal Bills

By Maria Dinzeo | February 28, 2024

"Having worked on both sides of the relationship between in-house counsel and outside law firms, I see the necessary need for a service like LegalBillReview.com to help companies mitigate their legal spend," said Brian Arbetter, LegalBillReview.com's general counsel.

3 minute read
Daily Business Review

Fla. Records Show Big Law Rates Rising as High as 36% in Recent Years, With Labor and Employment at the Top

By Alexander Lugo | February 28, 2024

Receipts from the Central Florida Tourism Oversight District show that labor and employment attorneys raised rates dramatically while increases in other practices were more muted. Firms billing the entity include FordHarrison, BakerHostelter and Greenberg Traurig.

4 minute read
The American Lawyer

Holland & Hart Posts 22% PEP Bump Thanks to Strong Demand, Cost Management

By Dan Roe | February 28, 2024

Colorado's biggest law firm also increased gross revenue by 11.3% in 2023 as all major practice areas saw growth.

5 minute read
Daily Report Online

Bradley Arant Sees Revenues Rise and PEP Fall Amid 12% Equity Partner Expansion

By Thomas Spigolon | February 21, 2024

The firm's PEP dropped by 5% to $820,000, as its equity tier expanded and its nonequity tier shrunk by 9%, bucking a trend in the industry of growing the nonequity ranks.

5 minute read
Daily Business Review

DeSantis Takeover of Disney's Home District Inflated Its Legal Budget by More Than 60%, Mostly Going to District's New Counsel

By Alexander Lugo | February 21, 2024

The biggest beneficiary is Winter Park-based boutique Fishback Dominick, which earned nearly $700,000 in the second half of 2023 from the Central Florida Oversight Tourism District. The firm hadn't previously billed the entity in recent years.

5 minute read
The American Lawyer

Big Law Is Aggressive With Rates. Should Midsize Firms Follow?

By Dan Roe | February 15, 2024

As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.

7 minute read
The American Lawyer

Is the Billable Hour in For a Slow Death?

By Maria Dinzeo | February 15, 2024

A newly released report from the law firm network Lex Mundi has reinvigorated the age-old debate on the topic.

7 minute read
Pro Mid Market

Should Midsize Firms Get More Aggressive About Rate Increases?

By Dan Roe | February 14, 2024

As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.

7 minute read
Corporate Counsel

AI Might Kill Off the Billable Hour Someday, But It Will Be a Slow Death

By Maria Dinzeo | February 14, 2024

"The people who regulate the profession are the profession. They are judges and members of the bar. So what incentive do they have to give away that control to the machine?" said Foster Sayers, vice president of legal ops at health tech company symplr.

7 minute read

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