The Florida Bar’s “Results of the 2016 Economics and Law Office Management Survey” found that over three-quarters (81%) of respondents list their hourly rate as being over $200, while over one-third (36%) list their hourly rate as being over $300. The survey also found that the percentage of attorneys who charge an hourly rate in excess of $300 has increased significantly since the previous 2010 survey (from 14% in 2010 to 36% in 2016).
The survey results indicated that the Southeast Region of Florida (70%) contains the highest percentage of respondents who charge an hourly rate of over $250. The North Region (31%) contains the highest percentage of respondents who charge an hourly rate of $200 or less.
Of those respondents who reported having a standard hourly billing rate, over two-fifths (44%) reported it has increased over the past two years, compared to 3% who report it has decreased. Over half (53%) reported their standard hourly billing rate has remained the same over the past two years.
55% of the respondents reported that they expected their standard hourly billing rate to stay the same in 2007; 29% reported they expected to increase their standard hourly rate in 2017; and, only 2% stated that the expected to decrease their standard hourly rate in 2017.
31% of the respondents reported that the hourly rate billed for legal work performed by paralegals in their firm is between $81 and $100, while 49% reported that the billed paralegal hourly rate is over $120.
59% of the respondents reported that their law firm or legal office uses an hourly rate as the primary method for billing, while 17% reported that their firm or legal office uses a combination of methods.
33% of the respondents reported that their firm or legal office handles contingency fee cases. Of those who accept cases on a contingency fee basis, the majority reported that these types of cases comprise one-quarter or less of the total number of cases they handle.
76% of the respondents receive 33% to 40% of the award in victorious contingency fee cases, which is an increase from 68% who reported the same in 2014.
34% of the respondents expected the demand for paid billable lawyer services in their area to either significantly or somewhat increase within the next five years, compared to 12% who expected it to significantly or somewhat decrease within that time frame.
If your business is presently or may soon be involved in business litigation in the United States, email us at email@example.com or telephone us toll-free in the United States at 800-756-2143 to find business litigation contingency lawyers who may handle your business litigation matter on a contingency basis.
BusinessLitigationContingencyLawyers.com – The Practical Solution For Business Litigation