Legal Industry News

Study: Location, Firm Size Key to Billing Rates

Source: Law.com – Newswire
A study of more than $4 billion worth of law firm time sheets submitted by 90,000 people at 3,500 firms portrays an industry fraught with inconsistency. About 85 percent of the lawyers charge clients different rates for the same work. The location of the biller and the size of the biller’s firm — not the biller’s experience — are the variables that most influence how much a client will pay. And while in-house counsel talk tough about keeping rates in check, they OK almost three-fourths of all timekeepers’ rate hikes.
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