Is the $3,400-an-hour lawyer the new normal for Corporate America?

Hourly rates at the nation’s top law firms are reaching once-unthinkable heights, with some senior partners now charging $3,000 to $3,400 an hour—and a handful of specialists quoting as much as $6,000, The Wall Street Journal writes. 

What was recently considered extreme is quickly becoming the new benchmark, driven by fierce competition for elite talent, high-stakes litigation and corporate dealmaking, and a dose of market ego. Corporate clients are pushing back where they can, leaning on artificial intelligence and expanding in-house teams to handle routine filings, due diligence and document review. 

Yet at the very top of the market, resistance has been limited. Companies facing high-profile trials, regulatory crises or complex transactions are often willing to pay a premium for lawyers with deep industry ties and courtroom reputations. 

Even as associate billing rates climb into four figures, the real pricing power sits with rainmakers and star trial attorneys who argue their expertise can quickly resolve—or decisively win—cases worth billions. 

The Wall Street Journal has the full story.