The trend towards higher billing rates continues!
According to a new survey from the National Association of Legal Fee Analysis, D.C. emerged as the top city for litigation billing rates in 2023, with a notable 25% of respondents reporting hourly rates surpassing $951, the highest among 24 tracked cities. Major law firms' presence in the region was highlighted as a key contributing factor to these high billing rates. Over 2,000 D.C. attorneys participated in the survey, revealing that a quarter fell within the top billing tier, ranging from $951 to over $1,300.
The survey results pointed towards a positive year-end financial performance for D.C. firms, with an average billing rate increase of 8.8%, outpacing the industry average. This growth was fueled by heightened demand in litigation and regulatory practices. Looking ahead, billing rate hikes are expected to continue, with 86% of large firms in the U.S. and U.K. anticipating rate increases in the coming year, reflecting an ongoing trend towards higher billing rates across the legal sector.
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