2024 Law Firm Hourly Rate Report 2024: Rates Will Rise 7 - 9% in 2024 as Consolidation Among Large Law Firms Concentrates Expertise, Shrinking Market Supply

Dublin, Oct. 11, 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

Companies Featured

• Adams and Reese LLP
• Adler Pollock & Sheehan PC
• Akerman LLP
• Akin Gump Strauss Hauer & Feld LLP
• Aleshire & Wynder, LLP
• Allen & Overy LLP
• Allen Matkins Leck Gamble Mallory & Natsis LLP
• Alston & Bird LLP
• AlvaradoSmith, APC
• Anderson Kill P.C.
• Anderson, McPharlin & Conners LLP
• AndersonDodson, P.C.
• AP Services, LLC (affiliate of AlixPartners, LLP)
• Appleby
• AquaLaw PLC
• Archer & Greiner, P.C.
• Arent Fox LLP
• Armstrong Teasdale LLP
• Arnall Golden Gregory LLP
• Arnold & Porter Kaye Scholer LLP
• Arrieta, Mantilla y Asociados
• Atkinson, Andelson, Loya, Ruud & Romo
• Babst, Calland, Clements and Zomnir, P.C.
• Bailey & Glasser LLP
• Bailey & Wyant PLLC
• Baker & Hostetler LLP
• Baker Botts LLP
• Baker McKenzie
• 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.
• Bedell Cristin
• Bell Nunnally & Martin LLP
• Benesch, Friedlander, Coplan & Aronoff LLP
• Berger Singerman LLP
• Bernstein, Shur, Sawyer & Nelson, P.A.
• Best Best & Krieger LLP
• Blakely Law Group
• Blank Rome LLP
• Bodman PLC
• Boies Schiller Flexner LLP
• Bond, Schoeneck & King, PLLC
• Boutin Jones Inc.
• Bowles Rice LLP
• Bowman and Brooke LLP
• Bracewell LLP
• Bradley Arant Boult Cummings LLP
• BraunHagey & Borden LLP
• Bressler, Amery & Ross, P.C.
• Brigard Urrutia Abogados S.A.S
• Brown Rudnick LLP
• Brown, LLC
• Brownstein Hyatt Farber Schreck, LLP
• 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
• Caplin & Drysdale, Chartered
• Carlton Fields, P.A.
• Carmody Torrance Sandak & Hennessey, LLP
• Carney Badley Spellman, P.S.
• Carruthers & Roth, PA
• Carter Ledyard & Milburn LLP
• Chaffe McCall, L.L.P.
• Chambliss, Bahner & Stophel, P.C.
• Choate Hall & Stewart LLP
• Clark Hill PLC
• Cleary Gottlieb Steen & Hamilton LLP
• Clyde & Co LLP
• Coblentz Patch Duffy & Bass, LLP
• Colantuono, Highsmith & Whatley, PC
• Cole Schotz P.C.
• Cole, Scott & Kissane, P.A.
• 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
• Debevoise & Plimpton LLP
• Dechert LLP
• DeConcini McDonald Yetwin & Lacy, P.C.
• Deloitte Touche Tohmatsu Limited
• Demarest Advogados
• Dentons
• Dentons Bingham Greenebaum LLP
• Dentons Cohen & Grigsby, P.C.
• Dentons Durham Jones Pinegar P.C.
• Dentons Rodyk & Davidson
• Derrevere Stevens Black & Cozad
• Devaney Pate Morris & Cameron, LLP
• Dickinson Wright PLLC
• Dinsmore & Shohl LLP
• DLA Piper LLP (US)
• 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
• Dvorak Law Group, LLC
• Dykema Cox Smith
• Dykema Gossett P.L.L.C.
• E.P. Bud Kirk Law
• Earthjustice
• Eckert Seamans Cherin & Mellott, LLC
• Egoscue Law Group, Inc.
• Elkins, P.L.C.
• Ellenoff Grossman & Schole LLP
• Ellis & Winters LLP
• Ellison Schneider Harris & Donlan LLP
• Epiq Systems, Inc. - Epiq Corporate Restructuring, LLC
• Epstein Becker Green PC
• Ernst & Young Global Limited
• Eversheds Sutherland
• Exigent Partners, LLC
• Faegre Drinker Biddle & Reath 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.
• Fraser Stryker PC LLO
• Fredrikson & Byron, P.A.
• Freeman Mathis & Gary LLP
• Freshfields Bruckhaus Deringer
• Fried, Frank, Harris, Shriver & Jacobson LLP
• Frost Brown Todd LLC
• FTI Consulting
• Fultz Maddox Dickens PLC
• Galloway, Johnson, Tompkins, Burr & Smith
• Geary, Porter & Donovan, P.C.
• Genova Burns LLC
• Gentry, Tipton & McLemore, P.C.
• Gibbons P.C.
• Gibson, Dunn & Crutcher LLP
• Gilbert Law Group, PA
• Gilbert LLP
• Glaser Weil Fink Howard Avchen & Shapiro LLP
• Godfrey & Kahn, S.C.
• Goldberg Segalla LLP
• Goodmans, LLP
• Goodwin Procter LLP
• Gordon Rees Scully Mansukhani, LLP
• Goulston & Storrs PC
• Grant Thornton LLP
• Graves Dougherty Hearon & Moody P.C.
• Graydon Head & Ritchey LLP
• GrayRobinson, P.A.
• Greehan, Taves & Pandak, PLLC
• Greenberg Costle, PC
• Greenberg Traurig LLP
• Greensfelder, Hemker & Gale, P.C.
• Greenspoon Marder LLP
• Grier Wright Martinez PA
• Gunster, Yoakley & Stewart, P.A.
• Hagens Berman Sobol Shapiro LLP
• Hahn Loeser & Parks LLP
• Hall, Render, Killian, Heath & Lyman, P.C.
• Hamilton Stephens Steele & Martin, PLLC
• Hamilton, Miller & Birthisel, LLP
• Hanson Bridgett LLP
• Harness, Dickey & Pierce, P.L.C.
• Hartline Dacus Barger Dreyer LLP
• Hawkins Delafield & Wood LLP
• Haynes and Boone, LLP
• Hayward PLLC
• Hedrick Gardner Kincheloe & Garofalo, LLP
• Herbert Smith Freehills
• Herrick Feinstein LLP
• Higgs & Johnson
• Hinckley, Allen & Snyder LLP
• Hinshaw & Culbertson LLP
• Hodgson Russ LLP
• Hogan Lovells LLP
• Holland & Hart LLP
• 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
• Koley Jessen P.C., L.L.O.
• KPMG International Limited
• Kramer Levin Naftalis & Frankel LLP
• Krigel & Krigel, P.C.
• Kroll Inc.
• Kroll Inc. - Kroll Associates, Inc.
• Kronick, Moskovitz, Tiedemann & Girard, APC
• Kutak Rock LLP
• Kwun Bhansali Lazarus LLP
• Lagerlof, LLP
• Lamson Dugan & Murray LLP
• Lane Powell PC
• Lashly & Baer, P.C.
• Latham & Watkins LLP
• Lathrop GPM LLP
• Law Office of Dean P. Sperling
• Leason Ellis LLP
• LeClairRyan PLLC
• Leech Tishman Fuscaldo & Lampl, LLC
• Lewis Brisbois Bisgaard & Smith LLP
• Lewis Rice LLC
• Lewis Roca Rothgerber Christie LLP
• Liebert Cassidy Whitmore
• Lightfoot, Franklin & White LLC
• Littler Mendelson P.C.
• Locke Lord LLP
• Loeb & Loeb LLP
• Looper Goodwine P.C.
• Lowenstein Sandler PC
• Lozano Smith
• Mackie Wolf Zientz & Mann, P.C.
• Manatt, Phelps & Phillips, LLP
• Manatt, Phelps & Phillips, LLP - Manatt Health Strategies, LLC
• Maples and Calder
• Marshall Dennehey Warner Coleman & Goggin P.C.
• Massey & Gail LLP
• Mayer Brown LLP
• Maynard Cooper & Gale PC
• McCalla Raymer Leibert Pierce, LLC
• McCarter & English, LLP
• McDermott Will & Emery LLP
• McDonald Hopkins LLC
• McGinnis Lochridge LLP
• McGlinchey Stafford PLLC
• McGuireWoods LLP
• McKinsey Recovery & Transformation Services U.S., LLC (affiliate of McKinsey & Company, Inc.)
• McKool Smith, P.C.
• Meyer, Unkovic & Scott, L.L.P.
• Meyers Nave, APC
• Michael Best & Friedrich LLP
• Milbank LLP
• Milberg Tadler Phillips Grossman LLP
• Miles & Stockbridge P.C.
• Miller Barondess LLP
• Miller Nash Graham & Dunn LLP
• 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
• Otterbourg P.C.
• Pachulski Stang Ziehl & Jones LLP
• Pansing Hogan Ernst & Bachman LLP
• Parker Poe Adams & Bernstein LLP
• Parkins & Rubio LLP
• Parkins Lee & Rubio LLP
• Parsons Behle & Latimer
• Patterson Belknap Webb & Tyler LLP
• Pattishall, McAuliffe, Newbury, Hilliard & Geraldson LLP
• Paul Hastings LLP
• Paul, Weiss, Rifkind, Wharton & Garrison LLP
• Perkins Coie LLP
• Phelps Dunbar LLP
• Phillips Lytle LLP
• Pierce Atwood LLP
• Pillsbury & Coleman, LLP
• Pillsbury Winthrop Shaw Pittman LLP
• Pirkey Barber PLLC
• Pittman, Dutton, Hellums, Bradley & Mann, P.C.
• Plunkett Cooney, P.C.
• Polsinelli PC
• Porter, Wright, Morris & Arthur LLP
• Poyner Spruill LLP
• Preti, Flaherty, Beliveau & Pachios, Chartered, LLP
• PricewaterhouseCoopers LLP
• Procopio, Cory, Hargreaves & Savitch LLP
• Proskauer Rose LLP
• Pryor Cashman LLP
• Quarles & Brady LLP
• Quilling, Selander, Lownds, Winslett & Moser, P.C.
• Quinn Emanuel Urquhart & Sullivan, LLP
• Quirk & Quirk, LLC
• Ragsdale Liggett PLLC
• Randi S. Ellis LLC
• Ray Quinney & Nebeker P.C.
• Rayburn Cooper & Durham, P.A.
• Reed Smith LLP
• Reid Collins & Tsai LLP
• Reinhart Boerner Van Deuren s.c.
• Remy Moose Manley, LLP
• Rhoades McKee PC
• Richards Carrington, LLC
• Richards, Layton & Finger, P.A.
• Richards, Watson & Gershon, APC
• Riemer & Braunstein LLP
• Riker Danzig Scherer Hyland & Perretti LLP
• Robins Kaplan LLP
• Robinson & Cole LLP
• Robinson, Bradshaw & Hinson, P.A.
• 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
• Sheppard, Mullin, Richter & Hampton LLP
• Sherman & Howard L.L.C.
• Sherman, Silverstein, Kohl, Rose & Podolsky, P.A.
• Shipman & Goodwin LLP
• Shook, Hardy & Bacon L.L.P.
• Shumaker, Loop & Kendrick, LLP
• Shute, Mihaly & Weinberger LLP
• Shutts & Bowen LLP
• Sidley Austin 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
• Spencer Fane LLP
• Spilman Thomas & Battle, PLLC
• Squire Patton Boggs
• Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A.
• Steptoe & Johnson LLP
• Steptoe & Johnson PLLC
• Sterne, Kessler, Goldstein & Fox P.L.L.C.
• Stikeman Elliott LLP
• Stinson LLP
• Stites & Harbison, PLLC
• Stoel Rives LLP
• Stoll Keenon Ogden PLLC
• Stradling Yocca Carlson & Rauth, P.C.
• Stroock & Stroock & Lavan LLP
• Sullivan & Cromwell LLP
• Sullivan & Worcester LLP
• Susman Godfrey LLP
• Taft Stettinius & Hollister LLP
• Tannenbaum Helpern Syracuse & Hirschtritt LLP
• Terris, Pravlik & Millian, LLP
• The Employment Law Group, P.C.
• The Sohagi Law Group, PLC
• Thompson Coburn Hahn & Hessen LLP
• Thompson Coburn LLP
• Thompson Hine LLP
• Thompson Ostler & Olsen
• Tiffany & Bosco P.A.
• Torys, LLP
• Traurig Law LLC
• Trenam Law
• Troutman Pepper Hamilton Sanders LLP
• Tucker Arensberg, P.C.
• Tucker Ellis LLP
• Turner Boyd
• Ulmer & Berne LLP
• Van Ness Feldman, PC
• Varnum LLP
• Venable LLP
• Verrill Dana LLP
• Vinson & Elkins LLP
• Vorys, Sater, Seymour and Pease LLP
• Wachtell, Lipton, Rosen & Katz
• Wagner Kirkman Blaine Klomparens & Youmans, LLP
• Wagner Zemming Christensen, LLP
• Waldrep Wall Babcock & Bailey PLLC
• Walkers
• Waller Lansden Dortch & Davis LLP
• Walsh Pizzi O'Reilly Falanga LLP
• Ward and Smith, P.A.
• Warner Norcross & Judd LLP
• Watson Burns, P.L.L.C.
• Watson Farley & Williams LLP
• Weil, Gotshal & Manges LLP
• Wendel Rosen LLP
• Werksman Jackson & Quinn LLP
• Wheeler Trigg O'Donnell LLP
• White & Case LLP
• White and Williams LLP
• White Brenner LLP
• Whiteford, Taylor & Preston L.L.P.
• Wiley Price & Radulovich, LLP
• Wiley Rein LLP
• Wilke Fleury LLP
• Wilkinson Barker Knauer, LLP
• Willcox & Savage, P.C.
• Williams & Connolly LLP
• Williams, Mullen, Clark & Dobbins, P.C.
• Willkie Farr & Gallagher LLP
• Wilmer Cutler Pickering Hale and Dorr LLP
• Wilson Elser Moskowitz Edelman & Dicker LLP
• Wilson Sonsini Goodrich & Rosati, PC
• Winstead PC
• Winston & Strawn LLP
• Wolf, Greenfield & Sacks, P.C.
• Wollmuth Maher & Deutsch 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

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