Even as top law firms have reached new revenue and profitability peaks, between 10% and 30% of partners are making less money year to year, as firms focus on retaining top performers.
Kirkland & Ellis announced that it was that it was promoting exactly 200 attorneys to partner this year. The total is slightly less than last year's 205, making it the first time the class has decreased year-over-year in the last eight years.
Second 50 law firms are climbing the industry ladder with significant combinations designed to add scale and expand their practice area and geographic reach.
Litigation finance has evolved into a $15.2 billion market, with many of the biggest U.S. law firms now leveraging third-party funding to pay the costs of more complex or long-running lawsuits.
WilmerHale has introduced a non-equity partnership tier, aligning with a growing trend among major law firms to offer a two-tier partnership structure. The move will not impact current equity partners.
Latham & Watkins is asking its attorneys in New York be in the office four days a week, starting January 1, 2025, joining other firms with similar policies.
Mary O’Carroll, the former head of Google’s legal operations, has joined Goodwin as Chief Operating Officer, bringing her extensive experience in legal operations and technology to the firm.
