It took a global economic meltdown and a major upheaval of the legal industry, but law firms seemed to get the message that 2009 was not the year to substantially increase their billing rates. While most firms did raise their rates, the average increase was a modest 2.5% during 2009 — one of the lowest increases in recent memory.
December 07, 2009 at 12:00 AM
1 minute read
It took a global economic meltdown and a major upheaval of the legal industry, but law firms seemed to get the message that 2009 was not the year to substantially increase their billing rates. While most firms did raise their rates, the average increase was a modest 2.5% during 2009 to $372 per hour.
Reality dawns on hourly rates
The recession forced firms to moderate or forego rate increases.
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