April 19, 2012
In the article, "Mid-Sized Firms Show Caution in Boosting Billing Rates," the New York Law Journal discussed the results of its "2012 Real Rate Report" that analyzed current attorney billing rates for large, mid-sized and small law firms. The report noted that New York City firms raised their attorney billing rates on average by 12% in the last few years. The report also shows that a lawyer's billing rate is often determined by firm size and location. The article quoted Paul McCurdy.
"'In certain instances, premium practices and premium practitioners can bill out a higher rate than somebody who is in a more commoditized practice, so our billing structures reflect the value added' for lawyers, he said.
Mr. McCurdy also noted Kelley Drye's billing is similar to peer firms and the firm is flexible in exploring innovative and responsive solutions to clients' needs, including various alternative fee arrangements.