Never Underestimate Big Law’s Ability to Raise Billing Rates

摘要

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we make a new rule in light of another increase in law firms’ billing rates. Sign up toreceive this column in your inbox on Thursday mornings.In January, I made a mistake. I broke what should be considered a Cardinal Rule of Big Law Prognosticating: Never underestimate firms’ ability to raise billing rates.Back then, I was naïve. I said law firms could struggle to raise rates this year after they reported blowout financial success in 2020.