Global Law Firm Rate Report 2024: Most Large Law Firms will Raise their Hourly Rates this year

DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Valeo 2024 Law Firm Hourly Rate Report” report has been added to  ResearchAndMarkets.com’s offering.

The 2024 Law Firm Hourly Rate Report is the most comprehensive and detailed competitive intelligence and legal pricing tool available. The report details average hourly rates by individual law firms as opposed to aggregate groupings of law firms with disparate pricing structures as is found in surveys, peer services and e-billing reports.

Most large law firms will raise their hourly rates in 2024, according to the report. This is due to several reasons:

1) Large law firms continue to consolidate, thereby concentrating expertise amongst fewer firms, thereby reducing supply.

2) Billing restrictions by Corporate Counsel are still active, in place and the most effective tool for law firms to increase revenue and profitability is the hourly rate.

3) Most large law firms are very diversified in terms of practice areas and industry strength and can weather changes in the economic landscape better than smaller law firms which have fewer practice areas and more limited geographical footprints.

The Report discloses actual billed hourly rates for 2019 – 2023. Hourly rates for 2024 are compiled from actual billed rates from multi-year agreements and estimates.

Key Topics Covered:

Executive Summary

Section 1: Average Rates by Revenue Groups

Overall RatesRates by Practice Area

Section 2: Average Rates by Individual Firm

Overall RatesRates by Practice Area

Partial List of Firms Featured

Adams and Reese LLPAdler Pollock & Sheehan PCAkerman LLPAkin Gump Strauss Hauer & Feld LLPAleshire & Wynder, LLPAllen & Overy LLPBaker Sterchi Cowden & Rice L.L.C.Baker, Donelson, Bearman, Caldwell & Berkowitz, PCBaker, Keener & Nahra, LLPBalch & Bingham LLPBallard Spahr LLPBanner & Witcoff, Ltd.Barnes & Thornburg LLPBass Berry & Sims PLCBates White LLCBDG Law Group, PLCBeck Redden LLPBecker & Poliakoff, P.A.Bryan Cave Leighton Paisner LLPBuchalter, APCBuchanan Ingersoll & Rooney PCBuckley LLPBurke, Williams & Sorensen, LLPBurr & Forman LLPButler Snow LLPButler Weihmuller Katz Craig LLPButzel Long PCCader Adams LPCadwalader, Wickersham & Taft LLPCahill Gordon & Reindel LLPCalfee, Halter & Griswold LLPConyers Dill & Pearman LimitedCooley LLPCovington & Burling LLPCozen O’ConnorCranfill Sumner LLPCravath, Swaine & Moore, LLPCrowe & Dunlevy, APCCrowell & Moring LLPCurtis, Mallet-Prevost, Colt & Mosle LLPDanning, Gill, Israel & Krasnoff, LLPDavis & Taliaferro, L.L.C.Davis Graham & Stubbs LLPDavis Polk & Wardwell LLPDavis Wright Tremaine LLPDay Pitney LLPDOAR, Inc.Dorsey & Whitney LLPDowney Brand LLPDrummond Woodsum & MacMahon, P.A.Duane Morris LLPDuncan & AllenDuncan, Weinberg, Genzer & Pembroke, P.C.Dunn Carney Allen Higgins & Tongue LLPDurie Tangri LLPFarella Braun & Martel LLPFarley & Graves, P.C.FaskenFennemore Craig, P.C.Fenwick & West LLPFilarsky & Watt LLPFinnegan, Henderson, Farabow, Garrett & Dunner LLPFish & Richardson P.C.Fisher & Phillips LLPFisher Rushmer, P.A.FisherBroyles, LLPFishman Jackson Ronquillo PLLCFlaherty Sensabaugh Bonasso PLLCFletcher, Heald & Hildreth, PLCFoley & Lardner LLPFoley Hoag LLPFoster Garvey PCFoster Swift Collins & Smith PCFox Rothschild LLPFrankfurt Kurnit Klein & Selz, P.C.Holland & Knight LLPHomer Bonner Jacob OrtizHonigman LLPHood Law Firm, LLCHooper, Lundy & Bookman, P.C.Hoover Slovacek LLPHughes Hubbard & Reed LLPHunt, Ortmann, Palffy, Nieves, Darling & Mah, Inc.Hunter, Smith & Davis, LLPHunton Andrews Kurth LLPHusch Blackwell LLPIce Miller LLPInternational Maritime Group, PLLCIrell & Manella LLPIsaacs Friedberg LLPIvey, McClellan, Siegmund, Brumbaugh & McDonough, LLPJackson Kelly PLLCJackson Lewis P.C.Jackson Walker LLPJanvier Law Firm, PLLCJarvis, Fay & Gibson, LLPJeffer Mangels Butler & Mitchell LLPJeffrey Leavell, S.C.Jenner & Block LLPJohnson & Mulroony, P.C.Jones DayJones Walker LLPK&L Gates LLPKasowitz Benson Torres LLPKatten Muchin Rosenman LLPKean Miller LLPKeating Muething & Klekamp PLLKeenan Cohen & Merrick, P.C.Keller Benvenutti Kim LLPKelley Drye & Warren LLPKellogg, Hansen, Todd, Figel & Frederick, P.L.L.C.Kelly Hart & Hallman LLPKidman Gagen Law, LLPKilleen & Stern, PCKilpatrick Townsend & Stockton LLPKing & Spalding LLPKirkland & Ellis LLPKirton McConkie PCKlarquist Sparkman, LLPKnobbe MartensKobre & Kim L.L.P.Kohrman Jackson & KrantzKolesar & Leatham, CharteredMiller, Canfield, Paddock and Stone, P.L.C.Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C.Mitchell Silberberg & Knupp LLPModrall, Sperling, Roehl, Harris & Sisk, P.A.MoloLamken LLPMontgomery McCracken Walker & Rhoads LLPMonzack Mersky and Browder, P.A.Moon Wright & Houston, PLLCMoore & BrooksMoore & Van Allen PLLCMorgan, Lewis & Bockius LLPMorris, Manning & Martin, LLPMorris, Nichols, Arsht & Tunnell LLPMorrison & Foerster LLPMotley Rice LLCMunger, Tolles & Olson LLPMurphy Austin Adams Schoenfeld LLPMusick, Peeler & Garrett LLPNeal, Gerber & Eisenberg LLPNelson Mullins Broad and CasselNelson Mullins Riley & Scarborough LLPNewmeyer DillionNexsen PruetNielsen Merksamer Parrinello Gross & Leoni LLPNixon Peabody LLPNorthen Blue, LLPNorton Rose FulbrightNossaman LLPNutter McClennen & Fish LLPNyemaster Goode, P.C.O’Melveny & Myers LLPOffit Kurman, P.A.Ogletree, Deakins, Nash, Smoak & Stewart, P.C.Orrick, Herrington & Sutcliffe LLPOsler, Hoskin & Harcourt LLPPaul, Weiss, Rifkind, Wharton & Garrison LLPPerkins Coie LLPPhelps Dunbar LLPPhillips Lytle LLPRoetzel & Andress, LPARopes & Gray LLPRutan & Tucker, LLPRyan Whaley Coldiron Jantzen Peters & WebberSAC Attorneys LLPSaltzman & Johnson Law CorporationSanders Bajwa LLPSanders Law GroupSandler, Travis & Rosenberg, P.A.Sands Anderson PCSaul Ewing Arnstein & Lehr LLPScarborough & FultonSchiff Hardin LLPSchulte Roth & Zabel LLPSeder & Chandler, LLPSeverson & WersonSeyfarth Shaw LLPSGR, LLCShearman & Sterling LLPShelton Coburn LLPSills Cummis & Gross P.C.Simpson Thacher & Bartlett LLPSirote & Permutt, PCSkadden, Arps, Slate, Meagher & Flom LLPSnell & Wilmer L.L.P.Solomon Ward Seidenwurm & Smith, LLPSomach Simmons & DunnVinson & Elkins LLPVorys, Sater, Seymour and Pease LLPWachtell, Lipton, Rosen & KatzWagner Kirkman Blaine Klomparens & Youmans, LLPWeil, Gotshal & Manges LLPWomble Bond Dickinson (US) LLPWood Smith Henning & Berman LLPWright, Finlay & Zak, LLPWyrick Robbins Yates & Ponton LLPZimmer Kunz PLLCZuckerman Spaeder LLP

For more information about this report visit https://www.researchandmarkets.com/r/kq9gtx

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