Last year saw significant increases in billing rates for law firms, a trend expected to persist through 2024. Despite strong demand for litigation and growing optimism around deal-work, firms are unlikely to decelerate their pricing strategies. According to new survey results, about 86% of large firms in the U.S. and U.K. anticipate raising their billing rates over the next 12 months. Nearly 20% of respondents expect these increases to range between 41% and 60%.
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