Hourly Billing Rates Continue Upward Climb; Partner and Senior Counsel Average Is $661
Hourly billing rates increased last year, reaching an average of $661 for partners and senior counsel.
The average for that group was $639 in 2010, according to an analysis by the Daily Report Online. The average for associates was $445 in 2011, compared to $439 in 2010.
“Certainly hourly rates were alive and well in 2011,” the story says. “And, although the average cost for an hour’s counsel has not increased at the same pace as gasoline and eggs, rates have continued to sneak upward past many indicators, even during the Great Recession of 2009.”
The publication compiled about 6,000 hourly rates last year based on Chapter 11 filings, mostly from five bankruptcy courts.