Female lawyers in smaller firms and solo practices generally bill clients at lower rates than their male counterparts. This and other billing trends are highlighted in the 2007 Survey Report of Billing Rates & Practices, a new ALM Research syndicated survey of billing information, focused on small, mid-sized and solo legal practices. The report includes analyses of billing rates and alternative billing practices based on firm size, geography, practice area, client industry, years in practice, and gender.
More than 5,000 lawyers throughout the 50 United States responded to the Web-based survey. The average hourly billing rate was $240. The average reported billable hour requirements were 1701 hours for partners, and 1755 hours for associates.
In addition, 88 percent of respondents reported offering alternatives to the billable hour, while 69 percent reportedly offered variations, including fixed/flat fees and contingency arrangements. The study found that 90 percent of male attorneys reported offering alternatives to the billable hour compared to 84 percent of female lawyers, while 70 percent of males reportedly offered variations on the billable hour, compared with 67% of females.
“The survey yielded surprising results, not only in terms of gender differences, but also in terms of variations across practice areas, geographies, and years in practice. The data is an excellent benchmarking tool for lawyers who are interested in learning what their peers are charging clients,
” said Ellen Siegel, vice president of licensing and business development at ALM.
The full report is available for purchase at
www.almresearchonline.com.