$342/hour was the average equity partner's 2009 billing rate, while a $400/hour rate put a partner in the top quartile, according to the recently released
ALM Legal Intelligence 2010 Survey of Law Firm Economics, subtitled "Weathering the Storm."
Other survey highlights include:
- Realization rates are now 85.9%, down from 88%
- Billable hours for equity partners averaged 1,636 in 2009
- Billable hours for associates fell slightly to 1,746 hours
- The ratio of associates to partners is at its lowest level in 25 years
- The ratio of support staff to attorneys is .88:1, the lowest level on record
- Average compensation per equity partner is $358,035
Click here for more findings from the
ALM 2010 Survey of Law Firm Economics, or visit
ALM Legal Intelligence. Contact ALM via
email or by callling
888-770-5647.
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