According to the 2014 Real Rate Report®, rises were 3.7 per cent last year, slightly over half the seven per cent level of pre-recession days. One of the findings this was year that ‘law firm size has the largest impact on hourly rates’.

Size is influential

The publishers of the report say: ‘ New to the Real Rate Report this year was an expanded analysis of more than 350 factors driving rates. Of all these factors, the size of the law firm was the most influential on rates, regardless of geography or the type of work performed. Location also influenced rates, and the range of rates varied the most in places like New York and Washington, D.C. As a result, corporate law departments have more negotiating power to shop around for the best rates in these locations.’ Source: Sys-Con Media