Fewer Law Firms Are Premium Rate Worthy; Premium Rate Firms Declined 16%

Share Article

The BTI Consulting Group’s newest research finds the premium rate club is declining.

BTI Brand Elite 2015 report available now

These firms deliver a combination of skill, client focus, and outsized value, even while charging top market rates.

16% fewer law firms were identified as worth the highest of the high rates a client pays this year, as revealed in the just-released BTI Brand Elite 2015: Client Perceptions of the Best-Branded Law Firms. The BTI Consulting Group’s newest in-depth research with 648 corporate counsel at Fortune 1000 and large organizations reveals the 101 law firms with the biggest imprint on corporate counsel in one of the key brand differentiators: premium-worthy rates.

One major factor contributing to the change is the decline of high-rate bet-the-company work. Clients also are using a smaller law firm roster than prior years. This combination of factors results in more intense competition for the highest octane work. Legal decision makers are demanding the absolute best service and results from their law firms—and fewer firms have met the challenge.

The law firms joining the Premium Worthy Best of Best ranks this year include: Alston & Bird, Sidley Austin and Sullivan & Cromwell.

Baker Botts, Debevoise & Plimpton, DLA Piper, K&L Gates, Norton Rose Fulbright, Paul Hastings, Ropes & Gray, and Vinson & Elkins join the ranks of the Premium Worthy Leaders this year.

“Premium law firms stand apart from peers in legal abilities and enjoy a well-established track record of delivering superior client service,” comments Michael B. Rynowecer, President of The BTI Consulting Group. “These firms deliver a combination of skill, client focus, and outsized value, even while charging top market rates.”

BTI conducted 648 independent, individual interviews with CLOs, General Counsel and legal decision makers at Fortune 1000 companies and large organizations. Now in its 15th year, BTI conducts the only continuous benchmarking market study of corporate counsel worldwide. The complete list of The BTI Brand Elite 26 and details on the brand performance of 450 law firms are available in BTI’s new report, The BTI Brand Elite 2015: Client Perceptions of the Best-Branded Law Firms.

Find more information about this and other compelling research at http://www.bticonsulting.com or contact BTI at 617.439.0333. BTI is the undisputed leader in providing high-impact strategic client research to professional services firms and their clients.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Michael B. Rynowecer
Follow us on
Visit website