Competitive intelligence and news on billing rates, evolving rate pressures and alternative pricing.
By Ross Todd | February 14, 2024
"Billable hours worked, the market's favored measure of demand for legal services, is simply becoming a less useful measurement," write the authors of a report issued this week by The Thomson Reuters Institute.
4 minute read
By Abigail Adcox | February 12, 2024
"Many do compete with the New York firms," said Wells Fargo's Owen Burman about D.C. firms. "But it's not universal."
5 minute read
By Dan Roe | February 12, 2024
The Am Law 50 finished the fourth quarter with nearly 8% more fees worked than Q4 2022 despite a decline in demand, according to a new Thomson Reuters report.
3 minute read
By J. Mark Santiago | February 9, 2024
Having a compensation system that clearly outlines partner expectations, provides the partners with the ability to validate the results by communicating the results back to them does more to build collegiality than an opaque system that, by its design, promotes distrust and ill will among partners.
5 minute read
By Amanda O'Brien | February 7, 2024
"I don't want to sound pessimistic, but the time of the smaller insurance defense shop is probably going away," said Weber Gallagher chairman Andrew Indeck.
4 minute read
By Abigail Adcox | February 6, 2024
The environment for counsel on government-facing issues was "quite strong" last year, driving demand across the firm's litigation, transaction and regulatory practices, said chairman Richard Alexander.
3 minute read
By Thomas Spigolon | February 5, 2024
If midsize firms can't match the top of the market in associate compensation, they should tout other perks to potential recruits, said recruiter Steve Stone. For some, non-financial benefits include earlier access to client contact and work-life balance.
7 minute read
By Dan Roe | January 31, 2024
The average Am Law 50 firm upped its rates by 8% to 10% in 2024, according to bankruptcy records.
3 minute read
By Andrew Maloney | January 24, 2024
Some lawyers have seen a rate increase above 20%. Overall, lawyers in financial services and health care, and in markets such as Dallas and Houston, all saw notable rate hikes.
4 minute read
By Andrew Maloney | January 24, 2024
The going rate for partners in Dallas increased from $674 per hour in 2022 to $770, a roughly 14% jump. In Houston, associates saw a roughly 10% increase, with mean going rates increasing from about $477 per hour to about $525.
4 minute read
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Professional Announcement
Frederick D. Miceli has joined the firm as Of Counsel
Professional Announcement
