For in-house counsel who want to do some comparison shopping on law firm billing rates, a new analysis from TyMetrix Legal Analytics and CEB shows that firms charged the most for finance and securities work last year, and that partner rates in New York outpaced those in any other U.S. or Canadian city by more than $100 an hour.
The “2013 Real Rate Report Snapshot” draws on $9.5 billion worth of invoices submitted to 83 corporate clients from 2008 to 2012. The dataset encompasses more than 4,800 U.S. law firms and 29.1 million hours billed by partners, associates, and paralegals.
The average hourly rate in 2012 for partners was $536.47, and for associates it was $370.25.
Based on its analysis of a control group of lawyers, TyMetrix found that while rates for both partners and associates continued to increase in 2012, they did so at a slightly slower pace than the previous year, says David Moran, the company’s director of data management.
Read original article


