A story in the February 9 Wall Street Journal reported that billing rates at some BIG law firms had risen $1,500 an hour despite weak demand and low inflation. Now, according to a study published in May by BTI Consulting Group, the top rate at some big law firms has risen to $2,000 an hour.
It seem like it was only yesterday (actually it was 5 years ago) that I posted two pieces on lawyers at big law firms that were charging $1,000 an hour. In one blog post, I wondered why it was that some clients were willing to pay such high hourly rates if good lawyers at lower billing rates were available.
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