The results of a recent Legal Week/ EJ Legal poll of partners in private practice indicate that 80% of law firms will be putting up their charge-out rates this year, with a third (33%) planning to raise them by between 5% and 10%.
The survey also suggests that the main basis for charging remains the hourly rate – 31% of respondents use it 90% of the time as the basis for their charges. A further indication of the chargeable hour’s domination of the market is that 26% of those surveyed hardly ever use success fees.
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