Clients balk as US elite hike rates 8% in '07
Billing rates at leading US law firms shot up in 2007, with approximately three-quarters of respondent firms to the latest annual National Law Journal survey on charge-out rates boosting the amounts they charged for partner and associate services. At the same time, average firmwide billing rates, which included partner and associate rates, climbed by 7.7%, while firmwide median rates rose by 7.1% compared to reported billing data in 2006.
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