Bloomberg Law
Aug. 12, 2021, 10:00 AM

Never Underestimate Big Law’s Ability to Raise Billing Rates

Roy Strom
Roy Strom

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. Today, we make a new rule in light of another increase in law firms’ billing rates. Sign up to receive this column in your inbox on Thursday mornings.

In January, I made a mistake. I broke what should be considered a Cardinal Rule of Big Law Prognosticating: Never underestimate firms’ ability to raise billing rates.

Back then, I was naïve. I said law firms could struggle to raise rates this year after they reported blowout financial success in 2020.

That isn’t ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.