US law firms increased their average firmwide billing rate by just 2.5% during the last year - one of the lowest increases in recent memory, reports The National Law Journal. The small rise compares to a 4.3% increase in 2008 and a 7.7% rate climb in 2007. The National Law Journal's annual survey of billing rates covered the period from 1 October 2008 to 30 September 2009, with 190 firms providing at least some billing information. Firms were asked to report their billing rates as well as their use of variations on the billable hour and alternative billing arrangements.
December 07, 2009 at 05:34 AM
1 minute read
The original version of this story was published on Legalweek
US law firms increased their average firmwide billing rate by just 2.5% during the last year – one of the lowest increases in recent memory, reports The National Law Journal.
The small rise compares to a 4.3% increase in 2008 and a 7.7% rate climb in 2007.
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