While the hourly rate for lawyers varies greatly depending on experience, practice area, complexity of the client's case, and the expertise and reputation of the law firm, a typical lawyer in New York charges between $122 and $485 per hour.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.
The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.