(312) 781-9000
28 Mar

Chicago Lawyer: The 2018 Largest Law Firms Survey and Lessons for Law Firm Growth

by: Astor Professional Search

In the latest March 2018 issue, Chicago Lawyer published results from their 16th annual survey of Illinois’ largest law firms and spoke with managing partners at Chicago firms that have seen strong growth in recent years, including two of our clients Faegre Baker Daniels and Akerman.

businessman with paper working in night office

Faegre Baker Daniels, for example, has proven that they have the right approach for Chicago growth, successfully growing their seven-attorney starter office to over 60 in just eight years. According to Chicago Lawyer’s latest survey results, Faegre Baker Daniels is the 58th largest firm in Illinois, up from 67th last year, and plans to have more than 100 lawyers in the Chicago office over the next few years. “We’re cognizant of the fact that the growth is primarily not going to come from our main markets, so we’re looking to grow in other markets,” notes Chicago managing partner, Rick Michaels. “There’s no limitation or desire to have a limited presence here. Our goal is to have [Chicago] be one of the growth vehicles for the firm as a whole.”

For Akerman, a mid-sized, full-service firm based out of Miami, growth has been a response to client demand. Chicago managing partner Scott Meyers discussed with the publication how client demand has continued to shape Akerman’s growth in Chicago, after firm headcount increased from eight to 51 lawyers since opening its doors in 2014. According to Chicago Lawyer’s recent survey, Akerman is the 67th largest firm in Illinois, up from 86th in 2017. “We did not come to Chicago just because we wanted to grow. We came to Chicago because our clients wanted us to be here. We have always worked backwards from ‘What do our clients need? What do our clients want? What do our clients expect us to be?’ rather than a strategy of ‘If we build it the clients will come,’” Meyers notes.

See highlights from the full article and survey on Chicago Lawyer.

Contact Bill Sugarman for more information.

author-bio-image author-bio-image
William Sugarman

William Sugarman is the president and founder of Astor Professional Search. He engages in the successful placement of attorneys with local, regional, and international law firms and corporations. Bill’s extensive legal and business development experience give Astor an edge over other legal recruiters nationwide. At the cornerstone of Bill’s strategic philosophy is providing the highest level of personalized attention to his clients and attorney candidates. This is also a key factor that separates Astor from other legal search firms, and it consistently delivers legal placements year after year.

Years of Experience: More than 20 years

Share it here
Related Posts
09 Sep Despite Compensation Cost Increase, Law Firms See Rise in Profits
Despite Compensation Cost Increase, Law Firms S...

2020 treated law firms well, as the surge in COVID-19 related work led to record profits at many of the nation’s largest law f...

10 Oct The American Lawyer Global 100 Highlights (2019)
The American Lawyer Global 100 Highlights (2019)

The American Lawyer released its annual Global 100 report, a ranking of the world’s 100 largest law firms by gross revenue...

12 Apr Global Companies Favor Smaller Law Firms in the Future, Survey Finds
Global Companies Favor Smaller Law Firms in the...

Frustration with high legal fees and demand for local regulatory knowledge may give small and medium-sized law firms an edge with la...