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2020 Attorney Hourly Rate Report - 2019 was a Record Breaking Year; 2020 Expected to Be Higher on Average by 3-6% - ResearchAndMarkets.com

December 19, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Dec 19, 2019--

The “2020 Attorney Hourly Rate Report” report has been added to ResearchAndMarkets.com’s offering.

2019 was the highest rate averages ever for the largest law firms and we expect 2020 to be higher on average by 3-6% or more overall. Two AMLAW 50 firms have already reported Senior Partner hourly rates of over $1,800 and we expect at least 1-3 of the AMLAW 10 firms’ rates to be higher. Smaller firms’ rates will remain stagnant or fall.

The 2020 Attorney Hourly Rate Report is the most comprehensive and most detailed competitive intelligence and legal pricing tool available because the report details average hourly rates by individual law firms as opposed to aggregate groupings of law firms with disparate pricing structures as is found in surveys, peer services and e-billing reports.

The report analyzes and presents hourly rates for 2015-2019 + 2020 forecast by Firm, Position (Senior Partner with 25 or more years since graduation year, Partner with 24 years or less since graduation year, Counsel, Senior Associate with 5 years or more since graduation year and Associate with 4 years or less since graduation year), key Practice Areas and City.

Valeo Partners researches, reviews and analyzes hourly rates that are publicly disclosed of attorneys and support staff at currently 1,600 law firms (all of the AMLAW 200 + others in the United States and globally) representing over 12,000 client entities. Secondary public records research is performed to complete detailed engagement profiles of the attorneys and companies involved. Through this process we are able to provide actionable data to users - mainly law firms and corporations - of the Valeo Attorney Hourly Rates Database to make important strategy decisions enterprise-wide or engagement-by-engagement.

In the Valeo Attorney Hourly Rates Database, all hourly rates, hours and fees for each individual attorney are cited as to the source. For example, the citation for a court filing includes: case name, case number, court, case filing date, filing number, filing description, attorney and support staff listed by full name, client name, hourly rate of each timekeeper, hours billed, total hours and the time period in which the work was performed. As mentioned, further secondary research is required to confirm experience levels (graduation and bar licensure years), bar state (in the United States) or bar country (outside of the United States), practice area(s) and primary industry of the client.

In terms of rate and fee sources, Valeo researches 1) public records in US State Courts, US Supreme Court, US Federal Courts - District, Appellate, Federal Circuit and Bankruptcy 2) publicly available budgets from municipalities, districts, counties and states where attorneys were hired to perform legal work for the public entity and 3) registrations such SEC records and other publicly disclosed documents.

Since Valeo researches, reviews and analyzes only publicly available information and cites the source of the information, the United States federal and state court systems easily recognize and accept the validity and veracity of Valeo data in court. Valeo data has been used and cited in several hundred United States federal and state court cases including the Supreme Court of the United States (Kirtsaeng v. John Wiley Publishing), Federal District Courts (The United States v. Apple), Appellate Courts including the Federal Circuit, Federal Bankruptcy (AMR Corporation, Chapter 11 bankruptcy case) and Adversary proceedings and major state courts mainly in California, Texas and New York.

Key Topics Covered

1. Executive Summary

1.1 Overall Average Hourly Rates by Position

1.2 Overall Average Hourly Rates by Associate Class Year

1.3 Overall Average Hourly Rates by Practice Area by Position

1.4 Overall Average Hourly Rates by City

1.5 Overall Average Hourly Rates by Industry

2. Hourly Rates for Individual Firms

2.1 Hourly Rates by Associate Class Year for Individual Firms

2.2 Hourly Rates by Practice Area for Individual Firms

2.3 Hourly Rates by City for Individual Firms

2.4 Hourly Rates by Industry for Individual Firms

3. Dentons

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/2x774a

View source version on businesswire.com:https://www.businesswire.com/news/home/20191219005415/en/

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KEYWORD:

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 12/19/2019 08:04 AM/DISC: 12/19/2019 08:04 AM

http://www.businesswire.com/news/home/20191219005415/en