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Billing Rates Have Increased, But Not Enough to Beat Inflation
Law firm billing rates have increased across all law positions in 2022, but not necessarily enough to keep pace with inflation.
That's according to news reports released last month that point to some more challenges for law firm profits.
The average going rate for partners in the United States this year is about $749 per hour, an increase from about $738 in 2021 (+1.5%), according to a report from Wolters Kluwer ELM Solutions. Last year, the average going rate for partners rose from about $705 in 2020 (+4.7%).
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