Legal News: Partners Eat While Associates are Starving (for work)
Thomos Reuters Peer Monitor Index (the "report") generated a new study finding the average growth in billed rates reached record highs in the year’s second quarter, even as demand for legal services plummeted.
Demand for legal services dropped 5.9% in the second quarter, the biggest year-over-year quarterly drop since 2009, according to the Thomson Reuters Peer Monitor Index. At the same time, more work shifted to partners, pushing the average billed rate 5.2% higher than at the same point last year, according to the new report, available here.
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