Thanks to Vault`s recently released regional rankings, we now know which major law firms dominate the legal scene in Manhattan. This ranking is based on the tabular votes of employees who were asked to rate companies on a scale of 1 to 10 based on their prestige in the region. As a leader in insolvency and restructuring, Weil is a versatile superstar with a name that will shine on any resume. The company is well suited for team players who like to socialize and aren`t afraid to roll up their sleeves and work hard. The firm has pioneered key areas of law such as corporate governance, private equity, insolvency and restructuring. With approximately 1,100 lawyers, the firm has offices on three continents and six countries and remains one of the strongest law firms in the world. As one of the most renowned law firms, Sullivan & Cromwell takes a generalist approach that allows lawyers to work across all sectors and groups. With a strong focus on mentorship and career guidance, S&C is committed to helping its lawyers prepare for their future. As a legal giant, Sullivan & Cromwell has continued – if not created – the model of legal success: it has grown internationally and in response to the growing demands for cross-border mergers and acquisitions, restructuring and financial transactions of the world`s largest corporate clients. DLA Piper, one of the world`s largest law firms with lawyers in over 40 countries, was formed in 2005 from a mega-merger of several international law firms.
Cleary is best known for its cross-border work, including representing national governments, and is one of the most prestigious companies. Intellectual curiosity and a gracious personality will fit perfectly into the company`s unique “Cleary culture”. Cleary is a leading global law firm with offices on four continents and an unparalleled reputation for groundbreaking work. Although Cleary has long been known as a dominant player in the international and corporate world, it has developed enterprise and process capabilities that have strengthened and expanded the full range of resources it provides to its clients. For many elite New York City companies, 2020 brought a financial record amid a pandemic and economic recession, as early data from the Am Law 100 shows, resulting in the highest gains ever recorded for partners and creating additional wage stratification within the Am 200 Act. Cravath never set itself the goal of being the largest law firm in terms of revenue or number of lawyers. But this focuses on profitability. This year, Kirkland also outperformed Cravath in that regard, with an average profit per partner of $4.7 million, according to The American Lawyer. (The numbers don`t take into account Cravath`s golden retirement plan, which is among the most generous in the industry.) A V20 law firm, Ropes & Gray, has a seat at the table of the most elite law firms. The firm is recognized for its private equity activities as well as its overall strength in the areas of legal practice.
Training and mentoring are key to the company`s collaborative culture, which has no room for egos. With 11 offices in the United States, Europe and Asia, Ropes & Gray is an international company that prides itself on providing cutting-edge work. The firm consistently leads the legal industry, helping clients in complex and highly regulated industries such as wealth management, healthcare, life sciences, private equity and technology. Several New York firms have dealt with some of their larger lateral entrants, while others have also used the time to move further away from the strict partner compensation model. Celebrating its bicentennial in 2019, Cravath, Swaine & Moore LLP has been recognized as one of the world`s leading law firms for two centuries. Each of our practice areas is highly valued and our lawyers are widely recognized for their commitment to representing the interests of our clients in the United States and abroad. Cravath is the firm of choice for a large number of companies, financial institutions and boards of directors for their largest and most complex transactions. Our practice spans industries as diverse as consumer goods, energy, financial services, healthcare, industrial and chemicals, media and entertainment, telecommunications, technology, transportation, retail, blockchain and financial technology (FinTech). The rising profits of some of these New York companies, as well as the strong demand for transactional labor, have created business opportunities over the past year that could help widen this gap. Several companies have committed to some of their biggest lateral entrants, while others have also used the time to move further away from the strict partner compensation model.
“Kirkland is the antithesis of Cravath when it comes to compensation,” said Bruce MacEwen, president of Adam Smith, Esq., a law firm consultant who writes extensively about their economics. “It`s very individualistic and competitive, with a very wide gap between the highest paid and lowest-paid partners. But Kirkland has a reputation for excellence that rivals Cravath`s. As one of the world`s largest law firms, Mayer Brown does it all. The pending cases include appeals in which the firm has heard more than 250 cases before SCOTUS. The firm has a professional atmosphere where lawyers take control of their workload through the free market system. Mayer Brown is an international law firm with offices in the Americas, Asia, Europe and the Middle East, employing more than 1,600 lawyers – one of the 25 largest law firms in the world. Mayer Brown is known for his world-class corporate, financial and vocation work, serving many of the world`s largest companies, including a significant portion of the Fortune 100, FTSE 100, CAC 40, DAX, Hang Seng and Nikkei companies, as well as more than half of the world`s largest banks. As a legal market, New York is second only to London in terms of complexity and size. Therefore, we thought it would be useful to break down our satisfaction survey into types of companies. What you`ll see below are the top employee satisfaction companies, grouped by their identity in the legal market.
Kirkland shook up the profession and expanded his practice by poaching top partners not only from Cravath, but also from other former leading firms, including Meagher Slate & Flom of Latham and Skadden Arp. He raided the venerable Simpson Thacher & Bartlett in New York to find so many partners that one Kirkland partner called Simpson the “AAA farm club of Kirkland” in a widely circulated email. Kirkland has been far more successful than Dewey & LeBoeuf, which imploded in 2012 after poaching partners from other companies and offering outsized guarantees it couldn`t deliver. Unlike Dewey, Kirkland`s associates know what each of their peers earns. Wachtell has experience in mergers and acquisitions, strategic investments, acquisitions and defense, corporate and securities law, and corporate governance. They process some of the largest, most complex, and most sophisticated transactions in the United States and the world. They advise public and private buyers and targets, handle sensitive investigative and litigation disputes as well as corporate restructurings, and advise board members and executives in critical situations. They have a proven track record of original and groundbreaking solutions and innovations that have had a significant impact on business and law.
Unless the companies in question are the former Cravath, Swaine & Moore and the disruptors Kirkland & Ellis, and the money is so important that star partners such as Hollywood celebrities and professional athletes are appreciated. Here is a list of the top ten law firms in the world. All figures are from The 2020 Global 200, a rank of The International Lawyer, and represent the 2019 financial year. Paul Weiss advocates for civil rights and social justice, attracting progressive types who appreciate the company`s high-level volunteer work and internal commitment to diversity and inclusion. The firm is a star in litigation and also has an exceptional corporate practice. The firm is also recognized for its expertise in telecommunications and entertainment law. Today, the company is active in racial justice efforts and support for those most affected by the COVID-19 pandemic, as well as in the areas of immigrant rights, reproductive rights, and voter protection. Latham is a unique and integrated partnership focused on providing the most collaborative approach to customer service. Paul Hastings consistently ranks among the top quality of life law firms, prioritizing mentorship, training and long-term career development. Lawyers looking for a friendly and collaborative atmosphere where hard work and client service are valued are likely to be a good fit for the firm. Over the past few decades, Paul Hastings has grown from a mid-sized U.S.
law firm to an international firm with labor, tax and business law strengths and well-known clients in more than 80 countries. With offices in Beijing, Hong Kong, Seoul, Shanghai and Tokyo, the company has become particularly strong in the Asian market. It`s worth noting that several of these companies are known as compensation leaders, with Cravath, Skadden and Simpson Thacher each being the first to announce bonuses over the years, and Cravath and Davis Polk have each increased bets on employee salaries in recent years. Just outside the top 10, we find Milbank — a company that has taken the lead in increasing employee salaries and bonuses since 2018 — in 13th place, compared to 16th in the 2021 ranking. What excites the upper echelons of the legal profession is that the partners have almost never left Cravath voluntarily for decades – at least not for other law firms, let alone for a firm like Kirkland, which in some ways is the exact opposite of Cravath. Vault`s ranking is based on a survey of nearly 17,000 legal professionals with commentary and analysis on each firm.