“Before the recession, I think we had a seller’s market,” said Altman Weil consultant Ward Bower. “There was so much demand that law firms were in the driver’s seat and could get what they wanted. Clients are in the driver’s seat now, and they aren’t going to pay those increases. They’re exerting much more control over pricing, strategy and staffing decisions.”
We asked the respondents to our 2011 survey of the nation’s 250 largest law firms to provide a range of hourly billing rates.
Law firms report on the percentages of revenue obtained through variations on the billable hour and true alternatives.
A sampling of hourly rates charged by law firms that establish billing rates based on associate class.