Alternative Billing Increasingly Important for Texas Firms, Survey Shows

Balancing the risks and rewards of using alternative billing, such as fixed or contingent fees, is a strategy many firms are employing in today's uncertain economy, based on responses from the 74 firms that completed Texas Lawyer's 2009 Salary & Billing Survey. Other strategies include holding hourly billing rates stable and requiring higher front-end retainers from new clients. The survey shows that average billing rates and employee salaries rose less than 4 percent when compared to 2008 figures.