Hourly rates for partners, associates, and support staff continued to rise in the first half of this year, driven by factors such as the resurgence of mergers and acquisitions and the widespread adoption of artificial intelligence. This growth shows no signs of slowing for the remainder of 2024 and into 2025, according to Chuck Chandler at Valeo Partners.
The legal industry, despite economic uncertainty, is experiencing significant revenue and profitability expansion. Large law firms are particularly benefitting from this trend, with hourly rates seeing a notable increase. For more details, read the full analysis presented by Chandler here.