Law360 released its seventh annual Glass Ceiling Report, which surveyed 300 law firms on gender diversity and ranked the best law firms for women based on the percentage of female equity partners in the United States. According to the report, women make up 40% of all attorneys and 25% of partners in law firms across the country.
Firms with the highest levels of female equity partners tend to focus on building a clear pipeline to equity partnership for women and offer benefits like work schedule flexibility, mentorship programs and greater leadership opportunities in order to retain top-performing attorneys.
“The firms on this list are finding ways to expand the representation of women in their upper ranks. At many of the largest firms, more than 30% of equity partners are women. At some smaller firms, more than half of equity partners are women,” (as quoted in Law360). Among the 300 law firms surveyed, Jackson Lewis tops the list of the biggest firms with the most female representation this year, with 30.5% female equity partners. Immigration boutique Fragomen stands out among firms with 101 to 600 attorneys, with 51.0% female equity partners, the report notes.
In the biggest category of ‘Big Law’ firms (601+ attorneys), firms with the highest percentage of female equity partners were Jackson Lewis (30.5%), Littler Mendelson (30.4%), Morrison & Foerster (29.5%), Ropes & Gray (29.1%), Ballard Spahr (28.1%), and Jones Day (27.2%).
For medium to large sized firms (101-600 attorneys), the top five best firms for female partners were Fragomen (51.0%), Tyson & Mendes (50.0%), Berry Appleman (42.9%), Verrill Dana (39.6%), and Hanson Bridgett (38.8%).
Among the 300 law firms surveyed, small firms (20-100 attorneys) had the highest percentage of female equity partners, including Reichman Jorgensen (75.0%), Wright Finlay (66.7%), Walsworth (58.3%), Sideman & Bancroft (57.1%), and Wilson Turner (56.3%).
See the full article and rankings on Law360.
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Law360 released results from its fifth annual Diversity Snapshot, which surveyed 300 law firms on their minority representation at the non-partner and partner level. According to Law360’s report, minorities make up 16.4% of all attorneys and 9.5% of partners in law firms across the country. Firms with the highest levels of minority attorneys offered benefits including formal mentorship programs, business marketing workshops, and integration into the firm’s community at large, the report revealed.
In the biggest category of ‘Big Law’ firms (600+ attorneys), Wilson Sonsini tops the list as the largest firm with the most minority lawyers this year, with 20.4% minority equity partners. Additional ‘Big Law’ firms with the highest percentage of minority attorneys included Morrison & Foerster (17.3%), Paul Hastings (13.8%), and Cleary Gottlieb (13.1%). For medium to large sized firms (300-599 attorneys), the top firms for minorities included Fragomen, Del Rey (23.5%), Fenwick & West (13.8%), and Shearman & Sterling (13.2%). For the smallest sized firms (150-299 attorneys), the best firms for minorities were Atkinson Andelson (32.1%), Best Best & Krieger (23.2%), and Munger Tolles (19.0%).
“The top firms in each size category have demonstrable diversity levels of at least 20% of all attorneys at the firm, creating examples of what a more diverse and more inclusive workforce can look like” Law360 notes. “It’s no secret that the legal industry is one of the least diverse professions in the country. But some law firms have made notable progress, and the firms listed are making some headway and turning longstanding diversity goals into workplace realities,” (as quoted in Law360).
See the full article and rankings on Law360.
Contact Bill Sugarman for more information.
Law360 released its sixth annual Glass Ceiling Report, which surveyed 300 law firms on gender diversity and ranked firms based on the percentage of female equity partners in the United States. According to the report, women make up 36% of all attorneys and 25% of equity partners in law firms across the country. Firms with the highest levels of female equity partners tend to focus on building a clear pipeline to equity partnership for women and offer benefits like work schedule flexibility, mentorship programs and greater leadership opportunities in order to retain top-performing attorneys.
Among the 300 law firms surveyed, small firms (20-149 attorneys) had the highest percentage of female equity partners, including Sideman & Bancroft (63.6%), Culhane Meadows (60.0%), Brundo Testan (60.0%), Wilson Turner (55.6%) and Walsworth (50.0%).
For medium to large sized firms (150-599 attorneys), the top five best firms for female partners were Fragomen Del Rey (47.1%), Nossaman (42.9%), Hanson Bridgett (38.2%), Shipman & Goodwin (32.2%) and Best Best & Krieger (32.1%).
In the biggest category of ‘Big Law’ firms (600+ attorneys), Littler Mendelson tops the list of the biggest firms with the most female representation this year, with 29.6% female equity partners. Additional firms with the highest percentage of female equity partners include Jackson Lewis (28.3%), Faegre Baker Daniels (24.3%), Akerman (22.9%), and Ogletree Deakins (21.7%).
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The U.S. legal industry climbed to 1,142,700 jobs last month, returning to last year’s highwater mark set in October, according to recent data released by The U.S. Department of Labor’s Bureau of Labor Statistics on Law360. Professional and business services, which includes the legal sector, showed stronger gains, adding 42,000 jobs last month, in line with the average monthly gains for those services over the past 12 months, the report said.
In addition, some other recent reports indicate that the legal industry as a whole is performing well financially. One report, released in late January by Wells Fargo Private Bank’s legal specialty group, in a check-in on 2018’s year-end results found the strongest annual performance among law firms in a decade, with firms reporting average revenue growth of 5.9 percent and average net income growth of 7.6 percent.
That was consistent with another report published in December by Citi Private Bank Law Firm Group and Hildebrandt Consulting, which found that last year was the U.S. legal industry’s best for financial growth in nearly 10 years, Law360 reports. According to the report, law firm revenues during the first nine months of 2018 grew by 6.3 percent on average, due to increases in billing rates and, to a lesser degree, demand growth.
The Citi report was generally optimistic about the industry’s outlook for 2019, predicting that law firms will become more adept at using technology, project management and alternative pricing to become more efficient. It also predicted an uptick in equity partner retirements, putting the onus on firms to invest more time and energy into client transitioning.
“We are optimistic about 2019 and do not anticipate a downturn in the industry. When the inevitable downturn does occur, the biggest expense management opportunity for firms will be to study whether the composition of their leverage models makes sense from a profitability standpoint,” Brad Hildebrandt, chairman of Hildebrandt Consulting, said in a statement at the time the report was released. “That said, experience tells us that law firms are typically quick to recover from economic downturns, so long as their internal fundamentals are sound,” (as quoted in Law360).
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Buoyed by a strong economy and expectations of continued growth in demand, the increasingly dynamic lateral market shows no signs of slowing in 2019, Law360 reports in a recent article. According to a report released by Citi Private Bank Law Firm Group and Hildebrandt Consulting, the lateral market had been the “primary driver of consolidation in the legal industry” in 2017 and 2018. During both of those years, the report found, lateral recruiting outpaced internal promotions, and that trend was unlikely to reverse in the near future.
In the article, Law360 reflects on the most effective hiring and integration strategies for attracting and retaining top talent at the fastest growing law firms in 2018. According to the article, law firm leaders at the most actively hiring firms identified a variety of strategies aimed at improving lateral hiring including seizing on opportunities from potentially flagging firms and building a competitive platform that integrates new talent and retains them for the long haul. Managing Partner of Akerman Scott Meyers weighs in on the success of the firm’s tactical lateral hiring strategies, which attributed to 47 lateral partners last year. According to Meyers, “None of this growth has been in the mold of, ‘If we build it, they will come,’ It’s been going to places where there is existing client demand, both in terms of geography as well as subject matter expertise,” (as quoted in Law360).
Another firm featured in Law360’s article was Kansas City-based Polsinelli, which also brought on 47 lateral partners in 2018. Polsinelli chairman and CEO Chase Simmons attributes its lateral growth to the firm’s 10-year focus on growing its bench in certain core practice areas, namely, real estate, financial services, mid-market corporate work, intellectual property and health care, as well as adjacent litigation and labor and employment matters. “We’re looking for people that fit culturally. If we see an opportunity that’s off-strategy, we’ll consider it,” notes Simmons. “We’re large enough as a firm that we can always be considering a few things that are maybe not right down the middle of what we’ve done in the past, but we know that that’s a different process,” (as quoted in Law360).
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Contact Bill Sugarman for more information.
Law360 released its fourth annual Glass Ceiling Report, which surveyed 300 law firms on gender diversity and ranked firms based on the percentage of female equity partners in the United States.
According to the report, women make up just 34% of all attorneys and 23% of partners in law firms across the country. Law360’s editor in chief, Anne Urda, notes, “Intentions among law firms are good, and some slight progress has been made, but overall the numbers indicate that law firms need to do much more to close the gap among male and female associates and partners.”
Firms with the highest levels of female equity partners tend to focus on building a clear pipeline to equity partnership for women and offering benefits like work schedule flexibility, mentorship programs and greater leadership opportunities in order to retain top-performing attorneys.
Among the 300 law firms surveyed, small firms (20-149 attorneys) had the highest percentage of female equity partners, including Adelson Testan (60%), Walsworth (57.1%), Stokes Lawrence (43.5%), Berry Appleman (42.9%) and Verrill Dana (41.5%).
For medium to large sized firms (150-599 attorneys), the top five best firms for female partners were Fragomen (40.7%), Miller Nash (37.7%), Hanson Bridgett (37.1%), FordHarrison (33.3%) and Chapman & Cutler (31.2%).
In the biggest category of ‘Big Law’ firms (600+ attorneys), firms with the highest percentage of female equity partners were Littler (28.5%), Faegre Baker (27.2%), Jackson Lewis (26.1%), WilmerHale (25.1%), and Ropes & Gray (25%).
See the full article and rankings on Law360.
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Contact Bill Sugarman for more information.
Law360 recently released their annual Glass Ceiling report, ranking ten firms above their peers based on the percentage of women in their ranks. Milwaukee-based Quarles & Brady outpaced the other 300 U.S. firms to win the number one spot. Quarles is also the only firm on the list to have a female chair. Akerman came in eighth, and law firm giant Baker & McKenzie took home the bronze.
Quarles & Brady chairwoman Kim Johnson attributed a variety of equality practices to the win, including an “equal opportunity” approach to promotions, which ensures that a minority is considered for every open position, and simply “making female attorney support and retention a priority,” (as quoted in Law360).
Astor Professional Search president Bill Sugarman quoted in Law360, discussing the Midwest legal market: http://www.law360.com/articles/789064/midwest-firm-falls-victim-to-cutthroat-lateral-market