Large law firms maintain high billing rates
Leading partners at major law firms are still able to demand a premium for their services, according to a survey published by The National Law Journal. The survey looked at 55 firms from among the top 350 US firms, with responding firms ranging in size from 128 to 3,746 lawyers.comments powered by Disqus
The highest billing rate recorded by the survey was $1,285 per hour charged by real estate investment trust partner Bryan Goolsby in Locke Lord's Dallas office, and the lowest hourly rate for associates was $130 at Cincinnati-based Dinsmore & Shohl. The median billing rate for associates was $323 in 2012, while median partner rates were $517.
Unsurprisingly, rates were higher in larger cities, with offices in New York and Washington recording median billing rates above $500, while firms based in smaller markets like St. Louis, Denver and Detroit had median rates below $400 per hour.