Law Firms Happy to Trade Falling Realization Rates for Strong Rate Increases

While some firm leaders pointed to market factors such as economic uncertainty, most indicated that declining realization rates were a price they were happy to pay in exchange for several years of strong rate increases.

4 minute read April 01, 2024 at 12:03 AM

Dan Roe

Law Firms Happy to Trade Falling Realization Rates for Strong Rate Increases

Compared to law firms' advertised rack rates, collections in Big Law continued to slump in 2023, according to reports from Am Law 200 firms that disclosed last year's realization rates to The American Lawyer this spring.

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