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Billing Rates Rise, Discounts Abound
The price of a billable hour has risen by more than 10% in four years, as large corporate law firms focused on their most expensive work and saved clients' money elsewhere.
“The question is: Is anybody paying that?” Maurice Watson, chairman at Husch Blackwell, says, looking back at hourly rates charged last year for lawyers. Husch's average rate for partners is about $449 per hour, the firm told Accounting and Financial Planning for Law Firms ' ALM sibling, The National Law Journal in response to its 2014 billing survey. But $407 is closer to what the firm collects for its work.
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