Valeo 2024 Early Indicators Law Firm Hourly Rate Report
$24,995.00
The Valeo 2024 Early Indicators Law Firm Hourly Rate Report details the average hourly rates by Position (listed below) of law firms in the AMLAW 200, non-AMLAW and Magic Circle by overall and individual practice areas (litigation and transactional).
- Senior Partner – 25 years or more since graduation year
- Partner – 24 years and less
- Counsel
- Senior Associate – 5 years or more
- Associate – 4 years and less
The Report gives users real-time insight into the first rate changes for January 2024. The rate data and related details of this Report were taken directly from the Valeo Attorney Hourly Rate and LPM Pricing Platform.
Description
| Valeo 2024 Early Indicators Law Firm Hourly Rate Report The Valeo 2024 Early Indicators Law Firm Hourly Rate Report details the average hourly rates by Position (Senior Partner – 25 years or more since graduation year, Partner – 24 years and less, Counsel, Senior Associate – 5 years or more and Associate – 4 years and less) of law firms in the AMLAW 200, non-AMLAW and Magic Circle by overall and individual practice areas (litigation and transactional). The Report gives users real-time insight into the first rate changes for January 2024. The rate data and related details of this Report were taken directly from the Valeo Attorney Hourly Rate and LPM Pricing Platform.Valeo Research and Reporting Methodology Valeo Partners researches, reviews and analyzes hourly rates that are publicly disclosed of attorneys and support staff at currently 2,500 law firms representing over 20,000 companies. Secondary public records research is performed to complete detailed engagement profiles of the attorneys and companies involved. Through this process we are able to provide actionable data to our user community – large law firms, corporations and consulting firms to make 1) direct comparisons between attorneys and firms (as opposed to general averages of a collection of various firms’ rates as found in surveys or e-billing services) and 2) important pricing and strategy decisions enterprise-wide or engagement-by-engagement.In the Valeo Attorney Hourly Rates and LPM Pricing Platform, all hourly rates, hours and fees for each individual attorney are cited as to the source. For example, the citation for a court filing includes: case name, case number, court, case filing date, filing number, filing description, attorney and support staff listed by full name, client name, hourly rate of each timekeeper, hours billed, total hours and the time period in which the work was performed. As mentioned, further secondary research is required to confirm experience levels (graduation and bar licensure years), bar state (in the United States) or bar country (outside of the United States), practice area(s) and primary industry of the client.All data for the Valeo Analytical Reports is downloaded from the Platform and rates are listed as Average Billed Rates by Firm, Position (Senior Partner, Partner, Counsel, Senior Associate, Associate and Support Staff), Practice(s) and Rate Year. In order to provide this detailed level of clarity and transparency, Valeo researches 1) public records in US State Courts, US Supreme Court, US Federal Courts – District, Appellate, Federal Circuit and Bankruptcy 2) publicly available budgets from municipalities, districts (school, water, environmental and others), counties and states where attorneys were hired to perform legal work for the public entity 3) registrations such SEC records and other publicly disclosed documents and 4) government affairs fees. The practice of law is global and although most hourly rate data is from public sources in the United States, Valeo captures hourly rates for attorneys in 62 countries and denominated in 11 currencies. Since Valeo researches, reviews and analyzes only publicly available information and cites the source of the information, the United States federal and state court systems easily recognize and accept the validity and veracity of Valeo data in court. Valeo data has been used and cited in several hundred United States federal and state court cases including the Supreme Court of the United States (Kirtsaeng v. John Wiley Publishing), Federal District Courts (The United States v. Apple), Appellate Courts including the Federal Circuit, Federal Bankruptcy (AMR Corporation, Chapter 11 bankruptcy case) and Adversary proceedings and major state courts mainly in California, Texas and New York. Prior written consent by Valeo is required to use any of this Report in court, arbitration, mediation or in a third party publication or channel. And the letter below must be signed and dated by Valeo prior to any submission. One submission per report. All comments, feedback and questions are welcomed and should be directed to Chuck Chandler, CEO, at cchandler@valeopartners.com. |
