Smaller firms have more to lose when a client says, "You're not price competitive." That's forced them to keep focus on sophisticated work from mid-market clients and routine work for high-end clients.
May 07, 2024 at 10:06 AM
10 minute read
The original version of this story was published on American Lawyer
In the New York office of Ice Miller, a small number of trial and transactional partners only started charging four-figure hourly rates in 2023, a result of the firm’s efforts to pivot to practice areas that command higher hourly rates.
This strategy has allowed the Am Law Second Hundred firm to grow revenue nearly 10% to $270 million in 2023, despite billing fewer hours than in 2022.
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