ALM surveys, rankings, and data are an essential resource for knowledge managers, business management, and anyone who wants to better understand the legal market, the companies that make it up, and the problems and challenges endemic to both. With an impressive global presence and a number of world-class clients, Sidley is the cream of the crop when it comes to law firms. Come for the challenging work and stay for the polite and friendly atmosphere of the Midwest – as well as for a sincere commitment to building a diverse and inclusive workplace. Sidley is a global powerhouse with approximately 2,000 lawyers in 20 offices. The company has a long list of clients in a number of industries, including banking, energy, healthcare, insurance, life sciences and technology. The firm`s work in complex transactions and litigation is supported by exceptional regulatory experience, and the firm has many former heads of government agencies in Europe, the United States and China. At Cozen O`Connor, lawyers can tackle exciting legal challenges while living a life outside of work. Employees appreciate the autonomy they are given to do their job and the responsibility given to them at the beginning of their careers. With 30 offices in the United States, the United Kingdom and Canada, Cozen O`Connor is a full-service law firm. The company`s client list ranges from the Fortune 500 and mid-sized companies to start-ups and individuals.
From mergers and acquisitions to taxation, Skadden is a legal powerhouse and a pillar among the most prestigious companies in Vault`s top 100 rankings. Skadden`s lawyers are a social group that values teamwork and mentorship while jumping headfirst into complex issues. Skadden is one of the most profitable and well-known law firms in the world. It was the first law firm to report annual sales of $1 billion – now an industry ring. Although the firm is best known for its M&A skills, it is a star in all areas of practice and has an army of approximately 1,700 lawyers worldwide. Revenue growth has been strong across all areas, with each Am Law 100 company experiencing an increase (compared to the 26 companies that experienced a revenue decline in 2020). Remarkably, 63 companies increased their sales by at least 10% and 18 by at least 20%. What drove sales growth? In his detailed analysis, Patrick Smith pointed out that the Am 100 law only increased the number of employees by 2.1% – so the increase in revenue was fueled by lawyers charging more hours, and by companies that increased billing rates, not by companies that simply had more cigarette butts in Aeron chairs (or were wrapped in sweatpants, on sofas across the country). Shearman & Sterling offers high-level legal work in collaboration with support teammates and strong mentorship. For those looking for international experience, the company`s global presence means exciting cross-border work and travel opportunities.
Shearman & Sterling is one of the world`s leading law firms, serving the domestic and cross-border needs of an impressive list of clients. With approximately 850 lawyers in 25 offices in North America, Europe, Asia, Latin America and the Middle East, the firm has an enviable mix of prestige, competence and reach. Davis Polk, a corporate law giant and a star of securities litigation, is among the most elite law firms. The firm is synonymous with professionalism and welcomes lawyers with a strong work ethic who are committed to supporting and mentoring each other. Davis Polk & Wardwell LLP has one of the best and most comprehensive corporate departments in the country with impressive teams in capital markets, mergers and acquisitions, finance, restructuring and taxation. The acclaimed litigation practice includes first-rate antitrust, civil, intellectual property and white-collar criminal defence practices. Seven of the top 10 law firms increased their revenues per lawyer by double digits (up from four in 2020). Once again, Wachtell and Sullivan & Cromwell took the top two spots. Davis Polk has cooled somewhat after its 22% growth in 2020 in terms of LPR, the market leader. Cravath impressed with his climb from #10 to #3 (reflecting Davis Polk`s jump in 2020). Quinn Emanuel and Paul, Weiss climbed into the top 10, ousting Cahill Gordon and Debevoise.
Faegre Drinker is a global law firm that provides litigation, regulatory and business services to clients ranging from Fortune 100 companies to startups. The company was founded in February 2020 by the merger of Faegre Baker Daniels and Drinker Biddle & Reath. The two companies inherited from Faegre Drinker have a historical history. Former drinker Biddle & Reath was founded in Philadelphia in 1849 and was headquartered, and former Faegre Baker Daniels was founded in 1863. Troutman Sanders was founded in Atlanta more than a century ago, and Pepper Hamilton was founded in Philadelphia more than 125 years ago. In 2020, the companies merged into a mega-company with more than 25 national offices. Troutman Pepper`s lawyers work in more than 20 business areas. The industries it serves include construction, energy, finance, healthcare, insurance, private equity, real estate and technology. In total, 14 companies now have earnings per partner of more than $5 million (up from six in 2020). In line with Biglaw`s long-standing theme of «the rich get richer,» the PPEP`s growth was strongest at the top of the Am 100 law.
While the top quartile increased the PPEP by 22.7%, the lower quartile of the Am 100 law only managed an increase of 7.7%. Regardless of their firm`s ranking, most Am Law 100 partners would have a hard time complaining about 2021. Now let`s take a closer look at the top three indicators — gross revenue, revenue per lawyer, and earnings per equity partner — and the top 10 companies in each category. Nine hundred strong lawyers with a long list of rented practice areas, there is not much in which Akin Gump does not excel. Transparent? Examine. Progress on diversity? Certainly. Are you going to take a wellness walk? Sure. Social guys who are down-to-earth fit well into the company. Founded in Texas in 1945, Akin Gump has grown into one of the world`s largest law firms, with more than 900 lawyers in 20 offices around the world working at the intersection of public policy, business and law.
As a giant of the law – both in terms of size and reputation – Kirkland is the ideal law firm for self-taught people looking to take control of their legal careers. The company`s employees agree that with the company`s solid training and the company`s name in their resume, their future is bright. Kirkland & Ellis, one of the world`s most elite law firms, is known for its corporate, intellectual property, litigation, mergers and acquisitions, private equity and restructuring activities. With more than 2,900 lawyers, the firm is regularly recognized as one of the most successful in the world. Kirkland & Ellis and Latham & Watkins once again led the pack, not only retaining their No. 1 and No. 2 slots, but also growing revenue faster than other companies in the top 10. The composition of the leading group has been fairly stable, with Ropes & Gray recording a growth rate of 22% in the top 10 and Jones Day coming out despite a 10% increase in sales. How did Biglaw perform in 2021 and come out of its surprisingly strong performance in 2020? In short: better.
Much better. Based on the financial measures reported this week in the latest edition of Am Law 100, biglaw`s latest round of salary increases makes perfect sense. Of course, most companies generated record gross revenues, revenues per lawyer, and profits per partner. But this is true in a typical good year. What made 2021 such an explosion was that many companies significantly accelerated their growth rates on these indicators compared to 2020 – a year that itself was hailed as a stunning success. No matter how you look at it, 2021 has truly been a memorable year for the De Biglaw elite. McDermott sits comfortably among the V100 law firms and is best known for his work in healthcare and tax economics – although his practices go far beyond that. The firm is at the forefront of wellness, offering billable credits to lawyers for 25 hours of wellness, and will appeal to those looking for a collegial and supportive environment. While the company is still known for its strength in the tax field, McDermott`s reach has expanded over the decades. The firm advises clients in newer areas such as life sciences, renewable energy and data protection law, which complement their more traditional practices such as mergers and acquisitions, antitrust, healthcare, intellectual property, litigation, real estate and insurance.
Last month, the U.S. attorney released the Am Law 100 2022 ranking, based on financial performance in 2021. Considered a group, the country`s 100 largest law firms performed remarkably well. Here are the overall measures for last year: Ropes & Gray, a V20 law firm, has a place at the table of the most elite law firms. The firm is known for its private equity skills as well as its global strength in all areas of law. Training and mentoring are the key to the company`s collaborative culture, which has no place for egos.
