Want to see if your outside counsel’s billing rates are competitive with other law firms for similar work and staffing? Big data to the rescue! Check out a handy chart that is based on crunching data from $18 billion in legal invoices:
“The data presented in the chart … is a bit tough on the eyes, but it’s also well worth examining closely for legal pricing insights. The data provides corporate counsel with an understanding of the rates they can expect to pay for a give matter type. For law firms, it provides a relative benchmark for ensuring pricing remains competitive.”
To see the chart, check out What are the Going Law Firm Billing Rates by Practice Area? at the Business of Law Blog.
Photo by kozumel