#billing-rates

#billing-rates

Despite economic concerns, law firms experienced significant revenue growth primarily due to rising billing rates and improved productivity.

Law firms reported a 12.5% revenue growth in 2024, significantly higher than the previous year's 6% increase.

Law firms prioritize long-term office space despite lawyer preference for remote work.

Increasing attorney billable rates despite evidence of a significant percentage preferring remote work.

Distributed law firms gaining momentum to cater to evolving needs of lawyers.

Law firm revenue grew 12.8% in the first nine months of 2024 due to higher billing rates, showing strong industry performance.

In Q1 2024, average standard billing rates for legal firms saw a year-over-year increase.

Revenue up by percentage

Increase in billing rates