Corporate Governance

Billing Rates and A Tale of Two Cities

By J. Robert Brown

We happen to come across the latest survey of billing rates by the National Law Journal for 2008.  A partner in one firm billed at over $1200 an hour.  The Journal sells the complete results but provides free public access to a sampling of the data.  It is possible, therefore, to get some idea about local billing rates.  We took the opportunity to compare the firms in the list from two cities, our very own Denver and our nation's capital, Washington DC.  For Denver, the data includes the three largest regional firms in the city:

• Brownstein Hyatt Farber Schreck: Firmwide, average $340, median $325. Partners, $275-$750 (average $424, median $400). Associates: $160-$285 (average $234, median $240); 
• Holland & Hart: Firmwide, average $350, median $345. Partners: $295-$615 (average $414, median $405). Associates: $175-$355 (average $269, median $275); 
• Holme Roberts & Owen: Firmwide, average $355, median $345. Partners: $285-$635 (average $415, median $410). Associates: $160-$525 (average $294, median $265).

And Washington DC?

• Arent Fox (336), Washington:  Partners $410-$710;Associates $260-$465
• Dickstein Shapiro (403), Washington: Partners $475-$895 (average $607, median $605); Associates $250-$475 (average $378, median $395); Firmwide (average $493) (median $485)
• Hogan & Hartson (1,175), Washington: Partners $375-$900 (average $660, median $650); Associates $150-$550 (average $410, median $400); Firmwide (average $525, median $525)
• Patton Boggs (529), Washington: Partners $360-$990 (average $586, median $570); Associates $244-$535 (average $372, median $385); Firmwide (average $440, median $455)
• Steptoe & Johnson LLP (506), Washington: Partners $350-$895 (average $591, median $580);Associates $210-$685 (average $384, median $395); Firmwide (average $477, median $470)
• Venable (569), Washington: Partners $380-$950 (average $530, median $525); Associates $250-$425 (average $329, median $320); Firmwide (average $440, median $440)

The data can be parsed a number of ways but the three firms from Denver have a firmwide average between $340 and $355.  The DC firms?  $440 to $525.

Full post as published by The Race to the Bottom on December 27, 2008 (boomark / email).