Top U.S. Law Firms | Top 100 U.S. Law Firm Rankings 2019!

TL;DR

Angela Vorpahl breaks down the top 100 law firms in the US, explaining how they are ranked and discussing the pros and cons of working at a BigLaw law firm.

Transcript

Angela Vorpahl: You hear all about BigLaw and the top ranked law firms in the country, but who are these firms? How is that ranking even determined? And are they as big a deal as they're made out to be? Angela Vorpahl: Hey guys, I'm Angela Vorpahl. If you're new to the channel, welcome, welcome, welcome, so happy to have you. In this video I'm goin... Read More

Key Insights

• 👮 The top 100 US law firms are determined by either gross revenue (Am Law 100) or industry reputation (Vault 100).
• 💦 The Vault 100 rankings provide additional breakdowns by region, practice area, and best law firms to work for.
• 😜 Above the Law Power 100 offers a more nuanced ranking methodology, considering both objective data and subjective feedback.
• ☠️ BigLaw is a subjective term referring to firms that pay market rate salaries and require market rate billable hours.
• 💪 Working at a BigLaw firm can provide name recognition, strong CV credentials, and high salaries.
• 💦 However, it also comes with long hours and potentially less substantive work in the early years.
• 👮 Top 100 law firms may not be the only BigLaw firms in the US; boutique firms can also meet the criteria.

Questions & Answers

Q: What are the two main sources for ranking the top 100 US law firms?

The two main sources are the Am Law 100, which ranks firms based on gross revenue, and the Vault 100, which ranks firms based on industry reputation determined by professionals in the legal field.

Q: How does Above the Law's methodology differ from the other rankings?

Above the Law combines objective data points such as head count changes and promotional prospects with subjective feedback from associates, partners, and others in the legal community. They aim to provide a comprehensive view of a firm's employee satisfaction, compensation, reputation, and growth.

Q: Are the top 100 ranked law firms the only BigLaw firms in the US?

No, BigLaw is a subjective term referring to larger firms that pay market rate salaries and require market rate billable hours. While the top 100 law firms are generally considered BigLaw, there are other firms, including boutique firms, that meet these criteria.

Q: What are the advantages and disadvantages of working at a BigLaw law firm?

Advantages include name recognition, strong credentials for future opportunities, and high salaries. Disadvantages include long hours and potentially less substantive work in the early years due to the large number of associates.

Summary & Key Takeaways

• The top 100 US law firms are determined by either their gross revenue (Am Law 100) or industry reputation (Vault 100) based on scores from professionals in the legal industry.

• The Vault 100 rankings provide additional breakdowns by region, practice area, and best law firms to work for, offering useful insights for law students and job seekers.

• Above the Law Power 100 is a newer ranking methodology that utilizes both objective data points and subjective feedback to provide a more holistic view of each law firm's attributes.