Pricing Benchmarks
A Structured Approach to Pricing Benchmarking
The pricing survey program provides law firm leaders with a way to benchmark their pricing strategies, governance structures, and execution models against peer firms.
Participation is straightforward: firms submit structured data across key pricing categories. In return, participants receive a report with aggregated, anonymized results from the full data set.
This process allows firms to compare approaches, identify gaps, and support internal decision-making with external context.
What’s Included
Survey topics typically cover:
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Rate setting and approval processes
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Use and structure of alternative fee arrangements
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Discounting practices and guardrails
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Pricing team design and governance models
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Partner involvement in pricing conversations
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Tools and support used to manage pricing at scale
All responses are confidential and reported in aggregate.
What Firms Receive
Participating firms receive access to:
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Aggregated peer data for comparison
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Trends in pricing structure, process, and execution
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Insights to inform internal reviews, partner discussions, and client positioning
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A clear sense of how their pricing function aligns with broader market practices
The report is concise and designed to support strategic conversations at the leadership level.
Law Firm Pricing: 2025 and Beyond
As we continue in 2025, law firm rate dynamics are at a critical inflection point. While the past decade’s rate cycle has established a clear growth trajectory, the fundamental drivers of rate increases remain firmly in place – and may even accelerate as transactional practices recover. However, our latest Strategic Pricing Survey reveals concerning gaps in firms’ pricing capabilities, from the inability to effectively communicate value to the persistence of legacy discounting patterns that create “stuck” rates. Perhaps most troubling is a widespread disconnect between pricing decisions and profitability outcomes, exacerbated by excessive autonomy in rate-setting.
These internal challenges coincide with growing client resistance to fee increases, creating a perfect storm that threatens rate performance. Yet there is a clear path forward: firms that invest in robust pricing support systems and governance are better positioned to navigate client pushback. At the heart of successful rate management lies the critical need for partners to maintain strong client relationships focused on delivering and demonstrating real value. Only through these deep connections can firms achieve pricing that reflects their expertise while maintaining strong client partnerships.
Interested in the Strategic Pricing Survey?
Contact MARK MEDICE to Obtain a Copy
LawVision’s Pricing Strategy services help law firms create smarter pricing models that boost profits and keep clients happy. We focus on value-based pricing and alternative fee arrangements, using data to ensure pricing matches what clients need and expect. With our expertise, LawVision helps firms stay competitive and adaptable in a changing legal market.
Ready to strengthen your firm’s rate performance? Let’s conduct a comprehensive rate diagnostic to identify your challenges and opportunities. Our analysis will provide actionable insights into rate realization, discount patterns, and pricing governance – giving you the tools to build a more resilient pricing strategy for 2025 and beyond.
CONTACT US today to schedule a confidential discussion
about your firm’s rate performance.
Timing and Access
The current survey cycle is open. If your firm would benefit from comparative data and is willing to contribute to the benchmark, participation is available now.
