Global Law Firm Hourly Rate Report 2024: The Most Detailed Competitive Intellige… – Press Release

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DUBLIN, Aug. 17, 2023 /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 most detailed competitive intelligence and legal pricing tool available because 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 and in place and the most effective tool for law firms to increase revenue and profitability is the hourly rate and

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 Rates
  • Rates by Practice Area

Section 2: Average Rates by Individual Firm

  • Overall Rates
  • Rates by Practice Area

Firms Covered (Partial List)

  • Adams and Reese LLP
  • Adler Pollock & Sheehan PC
  • Akerman LLP
  • Akin Gump Strauss Hauer & Feld LLP
  • Aleshire & Wynder, LLP
  • Allen & Overy LLP
  • Allen Matkins Leck Gamble Mallory & Natsis LLP
  • Alston & Bird LLP
  • AlvaradoSmith, APC
  • Anderson Kill P.C.
  • Anderson, McPharlin & Conners LLP
  • AndersonDodson, P.C.
  • AP Services, LLC (affiliate of AlixPartners, LLP)
  • Appleby
  • AquaLaw PLC
  • Archer & Greiner, P.C.
  • Arent Fox LLP
  • Armstrong Teasdale LLP
  • Becker & Poliakoff, P.A.
  • Bedell Cristin
  • Bell Nunnally

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