Overall, here`s what the Am Law 100 achieved in 2021 (as mentioned by Patrick Smith in his data summary): In addition to AmLaw recognition, the company was also named the 23rd largest in the country by number of employees according to Law360,400, as well as the 52nd largest in the world according to NLJ`s 2021 Top 500 list. In addition, the firm`s unwavering commitment to being a highly diverse and inclusive organization has led it to rank 24th on the National Law Journal`s Women in Law Dashboard in 2021, representing a 22-point increase over the past five years. In addition, Gordon & Rees was No. 2 among the top 25 companies for the total number of female minority partners in the U.S. and No. 8 for the percentage of U.S. partners who are minority women. The Law360 Glass Ceiling report also ranked the firm 13th for women lawyer representation among law firms with more than 600 lawyers. Finally, Gordon & Rees took first place in its most recent ranking. 53 on the American Lawyer Diversity Scorecard 2021 and has received a score of 100% Corporate Equality Index in the last six consecutive years.
In the 2021 edition of the Am Law 100, the top 10 companies remained the same in terms of gross revenues, with only one change in position. In order, they were: A total of 14 companies now have a profit 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. From top to bottom, Am Law 100 2021 has reached incredible heights. But not everyone will continue sailing next year. After a surprisingly successful pandemic year in 2020, Am Law 100 2021 has moved up a gear.
Profits have been larger and more universal than ever, allowing the group to achieve the best financial results in a generation. Here`s how the Second Hundred have performed as a band in 2021, according to the latest Am Law 200 ranking (which came out some time ago and which I`ve been late to report on; the last few weeks have been hectic, in legal news and for me personally): As usual, Wachtell Lipton ranked No. 1 with an incredible $7.5 million in PPEP. But Kirkland & Ellis, the No. 2 company in recent years, was ousted from second place by Davis Polk at $6.35 million. If it turns out that 2021 will be like 2020, it`s conceivable that Davis Polk could replace Wachtell as the No. 1 in next year`s rankings (but based on the good year M&A has had so far, I wouldn`t necessarily count on that). As for the rest of the top 10, there hasn`t been much movement, with the exception of the rise of Cahill and Debevoise (which the ranking of earnings by lawyer indicated). Here are the top 10 companies in the Am Law 100 2022 ranking, ranked according to their gross turnover in 2021. You can access the full list here. 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. Some of the impressive revenue growth can be explained by harder-working lawyers. According to data from the 61 firms that provided billing figures to the American Lawyer, billed hours increased by 5.7% compared to 2020. Meanwhile, the number of employees in the Am 100 law has increased by only 2.1%. As we can confirm at Lateral Link, companies have been eager to add talent in 2021, but growing ranks has been challenging given the intense competition. These figures are excellent, much higher than the previous year`s figures for the second hundred – increases of 1.1, 3.0 and 8.8% respectively. But compare them to the am law 100 increases in 2021: last week, the U.S.
attorney released his highly anticipated Am Law 100 ranking for 2021. As a group, here`s how the Am Law 100 performed in 2020 (as Dan Packel noted in his excellent data analysis): But these numbers don`t tell the whole story of how companies succeeded in 2020 — or what they need to do if they want a repeat of performance in 2021. In this year`s Am Law 100 report, we analyze all the numbers and look at the state of the Nonequity partnership level, the future of law firm real estate, Latham & Watkins` response to the crisis, the characteristics that helped resilient companies outperform and guide competition after the last recession – and more. The past year has been incredible for the Am Law 100, the 100 largest law firms in the country, ranked by revenue, as we learned in the spring when the latest ranking was released. For firms that are a notch below the Am Law 100 — firms ranked No. 101 to No. 200 in terms of total revenue, a group the U.S. attorney calls the “Second Hundred” — last year was also excellent, but not as large as for the top 100 firms. As a result, the gap between Am Law 100 and Second Hundred Firms continued to grow in 2021, as it has been for years. ALM has published its Am Law 100 2021 – here are the top 10 companies by turnover.
Deeply rooted in Philadelphia, Ballard Spahr has left its mark with 15 offices in the United States. The firm has a particularly robust litigation practice and has been commended for its focus on innovation. The firm advises some of the country`s largest market players on media law, securities and antitrust class actions, patent infringement cases, white-collar criminal cases, and federal and state appeals. The company attracts friendly and open-minded guys who support their colleagues and enjoy socializing. Search for “global law firm” in the thesaurus, and you`ll find White & Case. As a leader in cross-border work, the company operates in two dozen practice areas. The firm is home to a truly diverse team of lawyers and is characterized by a top-down commitment to promoting an inclusive workplace. The company operates in two dozen business areas, from antitrust and competition to employees and investigations. The 17 industries in which it operates include consumer goods, financial institutions, manufacturing and industry, media, mining and metals, oil and gas, pharmaceuticals and healthcare, energy, private equity, real estate, technology and more. From equity partners to earnings per lawyer, we define every element of our firm`s financial reporting – and how we do it. The full list of the AmLaw 100 by gross revenue can be found here (subscription required).