There are no Ties in Texas as One Old Guard Law Firm Remains the One to Beat, However, Position Isn't Destiny
An analysis of 12 years of data since the Great Recessions reveals that outperforming firms can emerge from any region of the country—and any region of the rankings.
April 21, 2021 at 11:30 AM
4 minute read
The original version of this story was published on The American Lawyer
The meteoric rise of Kirkland & Ellis over the past decade has drawn much attention, but Kirkland is far from the only firm making big moves. For a change of pace, let's look at a larger group of firms competing fiercely to cement their place for the next recovery.
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Figures 4 and 5 in the infographic below track reported figures for average partner compensation since the pre-recession peak in 2007. All amounts are adjusted for inflation by indexing to 2020 dollars and expressed as percentage change over 2007. By emphasizing percentage change over time, rather than relative ordering by current position, these charts highlight the firms that are outperforming their peers to establish a durable competitive advantage.
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Figure 4 provides a snapshot look at the waxing and waning fortunes of generalist firms with a national footprint that are ranked by Chambers USA in multiple practices. Although intended to be representative rather than comprehensive, this chart highlights standouts among firms headquartered outside the New York and Chicago markets.
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4 minute readLaw Firms Mentioned
- Cravath, Swaine & Moore
- Sullivan & Cromwell LLP
- Fenwick & West
- King & Spalding
- Holland & Knight LLP
- Debevoise & Plimpton
- Cooley
- Simpson Thacher & Bartlett
- Akin Gump Strauss Hauer & Feld
- Fried, Frank, Harris, Shriver & Jacobson
- Weil, Gotshal & Manges
- Wilmer Cutler Pickering Hale and Dorr LLP
- Wachtell, Lipton, Rosen & Katz
- Kirkland & Ellis
- Alston & Bird
- Ropes & Gray
- Davis Polk & Wardwell
- Vinson & Elkins
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