The Am Law 100 showed wide disparity in billing rate increases last year, depending on the law firm and the practice area, from hiking up rates by more than 20% to almost no increases.
Some law firms are expected to continue aggressive rate increases this year, analysts said. But rate increases across the legal industry haven’t been as big as the conventional wisdom implies, and clients have more room to negotiate than they probably realize, according to the latest LegalVIEW Insights report from Wolters Kluwer ELM Solutions.
