|[January 31, 2014]
Research and Markets: 2014 Attorney Billing Rate Report: The Most Comprehensive Analytical Report of the Year
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/q2w35k/2014_attorney)
has announced the addition of the "2014
Attorney Billing Rate Report" report to their offering.
The report details hourly rates and AFA (Alternative Fee Arrangements)
changes for the past 6 Years (2008-2013) and makes a predictive forecast
for 2014 by Attorney, Individual Firm, Firm Categories by Annual Revenue
(Top 10, 50, 100, 200, 201-600), Position (Partner, Counsel and
Associates by Class Year), Practice Areas and Cities for over 500 Firms
(Top 200 + 300 Others, US and Non-US).
The Report has both summary information b firm revenue size group (Top
10, 50, etc), practice areas (Litigation, Antitrust, Intellectual
Property, M&A, Tax, Bankruptcy, Finance, Labor & Employment, Real Estate
and Securities), city (US, Europe and Asia) and detail information by
firm, position rates (Senior Partner, Partner, Counsel, Associates by
Class Year 1 - 8) for 2008 - 2013. For each category, an hourly rate
forecast by firm and position is made based on changes within the firm
and past hourly rate adjustments.
Summary of Key Findings
- As the summary tables and analyses will show, large law firms (AMLAW 1
- 100) have the continued ability to raise their prices and keep their
rates at a premium. Smaller firms, especially ones smaller than the
AMLAW 200, have less price control and have actually experienced rate
declines in 2012 and 2013, mild recovery years. It is expected that this
trend will continue.
- In addition to the size of the law firm, location and practice areas
are also key. Attorneys in New York, Northern California, London,
Chicago and Washington, DC charge more than in other large cities.
Additionally, M&A, Tax and IP carry higher priced tags than some other
practice areas such as Employment, Insurance and Financial-related
Litigation. The latter being somewhat commoditized due to the massive
amounts of defense work initiated by the largest financial institutions
as a result of suits stemming from the 2008 collapse.
- Lastly, as was true in 2012, Associates at most Firms achieved the
highest rate increases. Again, this was due to what we call compensation
catch-up, i.e., Associates were denied any significant rate increases
from 2008 - 2011 and took the hit from the downturn, with several large
law firms laying off 10% or more of that position.
For more information visit http://www.researchandmarkets.com/research/q2w35k/2014_attorney
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