It is tough to get meaningful aggregate data on things like solo and small lawyer billing rates, seasonal trends, and which practice areas generate the most income. Most information on those metrics comes from self-reported surveys of solo and small firms. But that introduces selection bias, small sample size, and it’s hard to know if lawyers are reporting accurately.
With the Clio Legal Trends Report, Clio aims to provide the sort of data-driven analysis that has previously been unavailable to solo and small firms.
Clio’s Legal Trends Report aggregates data from paid Clio subscribers in 2015, which is a base of approximately 40,000 Clio users.1 Because people use Clio for timekeeping and billing and Clio keeps track of data like firm location and practice areas, Clio can compile that data and come to some large-scale conclusions about solo and small firms. Of note:
Consumer Price Index versus Billable Hours. Courtesy of Clio.
Map of billing rates by state. Courtesy of Clio.
The Legal Trends Report is available now and has much more detail. Reading it can give attorneys real, quantifiable insight into how to set billing rates to be competitive in their market, which is something everyone should know.
Clio users can opt out, and those who opted out naturally aren’t included in these reports. ↩
The Clio Legal Trends Report: Big Data for Small Firms was originally published on Lawyerist.com.