New survey shows billing rates inching up slowly at US firms
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.
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.
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