TBA Law Blog

Posted by: Amelia Ferrell Knisely on Sep 1, 2015

An article in The Wall Street Journal’s Law Blog said some law firms are increasing hourly rates to increase or maintain revenue despite dropping legal demand. According to a survey by Wells Fargo Bank’s Legal Specialty Group, revenue rose 4.1 percent at 60 of the nation’s highest-grossing firms, while the number of hours logged by the firm’s attorneys rose just 1.7 percent. The research group also found the average rate increase across the board was 3.3 percent.