Robust growth for fees in the heart of the recession: US Report
Among all the talk of increased competition and clients demanding more value from legal practitioners, a new report from CT TyMetrix and the Corporate Executive Board is somewhat surprising.
The report studied more than $4 billion in law firm billings from 2007-2009, submitted by more than 3,500 law firms, and found that billing rates are very healthy. According to the report, between 2007 and 2009 junior associates (with less than three years experience) increased their rates an average of 17.9 per cent. In the same period, rates for midlevel and senior associate went up by more than 11 per cent, and partner rates increased by an average of 8.6 per cent.
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