Monday, December 12, 2005
The National Law Journal reports this morning that billing rates for partners and associates at large law firms continue to rise, with one partner (Benjamin Civiletti) charging $1,000 per hour:
The partner charging up to $1,000 an hour at Venable is Benjamin Civiletti, the firm chairman and a 70-year-old partner in the firm's Baltimore office who was the U.S. attorney general under President Jimmy Carter. He specializes in internal investigations and corporate defense. "That's a rate that he charges for the most extraordinary work," explained James Shea, the managing partner of Washington-based Venable, of the $1,000 rate. Shea said it was doubtful that Civiletti is the only partner at a major U.S. firm who charges $1,000. Civiletti raised his highest hourly rate from $810 in 2004 to $1,000 this year. Shea said the firm raises its rates based on the development of certain practice areas, and a demand for certain types of work.
Associate billing rates top out at $835 per hour at Dorsey & Whitney in Minneapolis. MN.