Biglaw Firms May Be Raising Rates, But Clients Are Still ‘Paying Up’

// Ed. note: Welcome to our daily feature, Quote of the Day.

Being in an elite law firm is a wonderful place to be. They can raise rates and demand doesn’t drop as much. It’s a great business to be in.

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— Owen Burman, a senior consultant at Wells Fargo Private Bank’s Legal Specialty Group, in comments given to Law360 Pulse on top Biglaw firms’ ability to raise rates for the work they handle for clients. Although demand is virtually flat over last year, according to Burman, “clients are paying up for the work.”

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

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Biglaw, Billable Hours, Billable Rates, Bonus News Alerts, Money, Partner Issues, Quote of the Day