Charge-out rates at the City’s top firms have remained broadly static throughout 2011, with leading firms coming under pressure to reduce rates. New research carried out by costs lawyer Jim Diamond shows magic circle firms have reduced partner charge-out rates marginally, with average rates falling by 8% at the lower end of the range and 3% at the top in 2011. The reductions equate to an average partner hourly rate in the magic circle of between £600 and £700, down from a range of £650 to £725 in 2010.
November 23, 2011 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Jim Diamond survey shows renewed pressure on fees as LW research underlines client concerns over costs
Charge-out rates at the City’s top firms have remained broadly static throughout 2011, with leading firms coming under pressure to reduce rates.
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