BigLaw firms charge a premium for their services with the largest charging 31 per cent more than a typical law firm and 54 per cent more than a smaller law firms. And corporate counsel pay top dollar for the top players with 30 per cent premiums for senior partners. The research, which was carried out by The BTI Consulting Group in association with Law360, said that large law firms can leverage resources and provide high value - enabling them to attract cleints willing to pay premium. It also found that legal departments on average received a discount of 76 per cent from their law firms.

Premium rates

A senior partner at a large law firm averaged $724 whilst one at a medium firm commanded $541 and a smaller firm $445. Meanwhile an associate at a BigLaw firm was charged out at $400 compared with a small firm which saw rates drop to $274.  Rates were less varied at partner level where differences in hourly rates across firm sizes decrease, the research pointed out. Source: BTI Consulting Group