Billing Rates on the Rise

According to a recent report entitled the 2012 Real Rate Report, New York City firms raised their attorney billing rates on average by 12 percent in the last few years, the second highest change in rates among lawyers in various U.S. cities.  This report also shows that a lawyer’s billing rate is determined more by law firm size and location than by status, experience or practice area.  In other words “location, location, location.”

The report was based upon legal fees billed to sixty-two companies in seventeen industries, including energy, finance, technology, insurance and health care.  The bills were provided by over 4,000 law firms in 84 metropolitan areas around the U.S.  The records were provided for a five-year period ending in December 2011.

by MIKE MINTZ on MAY 9, 2012

For the article source: http://blog.martindale.com/new-report-finds-law-firm-hourly-billing-rates-continuing-to-rise

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