A massive study of billing rates shows that law firm partners in Washington charge the second-highest hourly rate in the nation.
On average, partners here bill just over $600 an hour, second only to New York City, where partners charge close to $700 an hour, according to the study by CT TyMetrix Inc. and The Corporate Executive Board Co.
To arrive at the numbers, the companies looked at bills sent to 36 large corporate clients between 2007 and 2009—$4.1 billion worth of invoices from more than 3,500 law firms and 90,000 individual billers.
Associates in Washington are a relative bargain, the study found, billing about $375 an hour on average—a bit less than those in Los Angeles and a hair more than in San Francisco.
Also, between 2007 and 2009, Washington lawyers hiked their billing rates by an average of 10.5%. Rates rose the most in Dallas—up by 21.9%—and least in Detroit, where the increase was a mere 2%.
The study found that 85% of lawyers nationwide charge clients different rates for the same work.