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

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Feb 23, 2024, 13:15 ET

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 Rates
Rates by Practice Area

Section 2: Average Rates by Individual Firm

Overall Rates
Rates by Practice Area

Partial List of Firms Featured

Adams and Reese LLP
Adler Pollock & Sheehan PC
Akerman LLP
Akin Gump Strauss Hauer & Feld LLP
Aleshire & Wynder, LLP
Allen & Overy LLP
Baker Sterchi Cowden & Rice L.L.C.
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Baker, Keener & Nahra, LLP
Balch & Bingham LLP
Ballard Spahr LLP
Banner & Witcoff, Ltd.
Barnes & Thornburg LLP
Bass Berry & Sims PLC
Bates White LLC
BDG Law Group, PLC
Beck Redden LLP
Becker & Poliakoff, P.A.
Bryan Cave Leighton Paisner LLP
Buchalter, APC
Buchanan Ingersoll & Rooney PC
Buckley LLP
Burke, Williams & Sorensen, LLP
Burr & Forman LLP
Butler Snow LLP
Butler Weihmuller Katz Craig LLP
Butzel Long PC
Cader Adams LP
Cadwalader, Wickersham & Taft LLP
Cahill Gordon & Reindel LLP
Calfee, Halter & Griswold LLP
Conyers Dill & Pearman Limited
Cooley LLP
Covington & Burling LLP
Cozen O'Connor
Cranfill Sumner LLP
Cravath, Swaine & Moore, LLP
Crowe & Dunlevy, APC
Crowell & Moring LLP
Curtis, Mallet-Prevost, Colt & Mosle LLP
Danning, Gill, Israel & Krasnoff, LLP
Davis & Taliaferro, L.L.C.
Davis Graham & Stubbs LLP
Davis Polk & Wardwell LLP
Davis Wright Tremaine LLP
Day Pitney LLP
DOAR, Inc.
Dorsey & Whitney LLP
Downey Brand LLP
Drummond Woodsum & MacMahon, P.A.
Duane Morris LLP
Duncan & Allen
Duncan, Weinberg, Genzer & Pembroke, P.C.
Dunn Carney Allen Higgins & Tongue LLP
Durie Tangri LLP
Farella Braun & Martel LLP
Farley & Graves, P.C.
Fasken
Fennemore Craig, P.C.
Fenwick & West LLP
Filarsky & Watt LLP
Finnegan, Henderson, Farabow, Garrett & Dunner LLP
Fish & Richardson P.C.
Fisher & Phillips LLP
Fisher Rushmer, P.A.
FisherBroyles, LLP
Fishman Jackson Ronquillo PLLC
Flaherty Sensabaugh Bonasso PLLC
Fletcher, Heald & Hildreth, PLC
Foley & Lardner LLP
Foley Hoag LLP
Foster Garvey PC
Foster Swift Collins & Smith PC
Fox Rothschild LLP
Frankfurt Kurnit Klein & Selz, P.C.
Holland & Knight LLP
Homer Bonner Jacob Ortiz
Honigman LLP
Hood Law Firm, LLC
Hooper, Lundy & Bookman, P.C.
Hoover Slovacek LLP
Hughes Hubbard & Reed LLP
Hunt, Ortmann, Palffy, Nieves, Darling & Mah, Inc.
Hunter, Smith & Davis, LLP
Hunton Andrews Kurth LLP
Husch Blackwell LLP
Ice Miller LLP
International Maritime Group, PLLC
Irell & Manella LLP
Isaacs Friedberg LLP
Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP
Jackson Kelly PLLC
Jackson Lewis P.C.
Jackson Walker LLP
Janvier Law Firm, PLLC
Jarvis, Fay & Gibson, LLP
Jeffer Mangels Butler & Mitchell LLP
Jeffrey Leavell, S.C.
Jenner & Block LLP
Johnson & Mulroony, P.C.
Jones Day
Jones Walker LLP
K&L Gates LLP
Kasowitz Benson Torres LLP
Katten Muchin Rosenman LLP
Kean Miller LLP
Keating Muething & Klekamp PLL
Keenan Cohen & Merrick, P.C.
Keller Benvenutti Kim LLP
Kelley Drye & Warren LLP
Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C.
Kelly Hart & Hallman LLP
Kidman Gagen Law, LLP
Killeen & Stern, PC
Kilpatrick Townsend & Stockton LLP
King & Spalding LLP
Kirkland & Ellis LLP
Kirton McConkie PC
Klarquist Sparkman, LLP
Knobbe Martens
Kobre & Kim L.L.P.
Kohrman Jackson & Krantz
Kolesar & Leatham, Chartered
Miller, Canfield, Paddock and Stone, P.L.C.
Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C.
Mitchell Silberberg & Knupp LLP
Modrall, Sperling, Roehl, Harris & Sisk, P.A.
MoloLamken LLP
Montgomery McCracken Walker & Rhoads LLP
Monzack Mersky and Browder, P.A.
Moon Wright & Houston, PLLC
Moore & Brooks
Moore & Van Allen PLLC
Morgan, Lewis & Bockius LLP
Morris, Manning & Martin, LLP
Morris, Nichols, Arsht & Tunnell LLP
Morrison & Foerster LLP
Motley Rice LLC
Munger, Tolles & Olson LLP
Murphy Austin Adams Schoenfeld LLP
Musick, Peeler & Garrett LLP
Neal, Gerber & Eisenberg LLP
Nelson Mullins Broad and Cassel
Nelson Mullins Riley & Scarborough LLP
Newmeyer Dillion
Nexsen Pruet
Nielsen Merksamer Parrinello Gross & Leoni LLP
Nixon Peabody LLP
Northen Blue, LLP
Norton Rose Fulbright
Nossaman LLP
Nutter McClennen & Fish LLP
Nyemaster Goode, P.C.
O'Melveny & Myers LLP
Offit Kurman, P.A.
Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Orrick, Herrington & Sutcliffe LLP
Osler, Hoskin & Harcourt LLP
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Perkins Coie LLP
Phelps Dunbar LLP
Phillips Lytle LLP
Roetzel & Andress, LPA
Ropes & Gray LLP
Rutan & Tucker, LLP
Ryan Whaley Coldiron Jantzen Peters & Webber
SAC Attorneys LLP
Saltzman & Johnson Law Corporation
Sanders Bajwa LLP
Sanders Law Group
Sandler, Travis & Rosenberg, P.A.
Sands Anderson PC
Saul Ewing Arnstein & Lehr LLP
Scarborough & Fulton
Schiff Hardin LLP
Schulte Roth & Zabel LLP
Seder & Chandler, LLP
Severson & Werson
Seyfarth Shaw LLP
SGR, LLC
Shearman & Sterling LLP
Shelton Coburn LLP
Sills Cummis & Gross P.C.
Simpson Thacher & Bartlett LLP
Sirote & Permutt, PC
Skadden, Arps, Slate, Meagher & Flom LLP
Snell & Wilmer L.L.P.
Solomon Ward Seidenwurm & Smith, LLP
Somach Simmons & Dunn
Vinson & Elkins LLP
Vorys, Sater, Seymour and Pease LLP
Wachtell, Lipton, Rosen & Katz
Wagner Kirkman Blaine Klomparens & Youmans, LLP
Weil, Gotshal & Manges LLP
Womble Bond Dickinson (US) LLP
Wood Smith Henning & Berman LLP
Wright, Finlay & Zak, LLP
Wyrick Robbins Yates & Ponton LLP
Zimmer Kunz PLLC
Zuckerman Spaeder LLP

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

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