2024 Law Firm Rate Report Featuring 525 Firms: Market Consolidation, Billing Restrictions Impact, Practice Diversification Resilience

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Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- 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/3rnna9

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