Biglaw, Rankings

Vault 100 Rankings: The Most Prestigious Law Firms In America (2018)

Money matters when it comes to ranking prestige in Biglaw.

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What do associates at major law firms care about more than money? Prestige, of course. But, at the end of the day, sometimes being a leader when it comes to compensation is enough to boost a firm’s prestige. As luck would have it, the closely watched Vault 100 rankings are here to remind lawyers at the nation’s largest law firms about exactly which ones are considered the most prestigious.

In last year’s Vault 100 rankings, Cravath — the firm that rocked the associate salary scale last summer — elbowed Wachtell Lipton out of its 13-year reign in the number 1 slot, thanks to a survey that closed before Cravath’s new $180K salary scale was even announced. Was Cravath able to retain its position as the most prestigious Biglaw firm in the country in the latest Vault rankings?

Absolutely! Here’s what Matt Moody, Vault’s senior law editor, had to say about Cravath’s placement in the latest rankings: “After just edging out Wachtell last year, Cravath really solidified its top spot this year. Cravath invented the business model upon which nearly all large law firms are organized. And associates clearly haven’t forgotten that the firm is responsible for industry-wide associate raises last year.” While Cravath increased its prestige score from 8.961 to 9.056, Wachtell saw its prestige score drop from 8.904 to 8.788. In fact, one survey respondent’s comment made clear why Cravath is now considered the post prestigious firm of all: “Thank God for the Cravath pay scale!”

Although Cravath and Wachtell kept their first- and second-place spots in the latest edition of the Vault rankings, there was some movement at the tail end of the Top 10. Without any further ado, here are the Top 10 Most Prestigious Law Firms based on Vault’s Annual Associate Survey for 2018:

  1. Cravath, Swaine & Moore (no change)
  2. Wachtell, Lipton, Rosen & Katz (no change)
  3. Skadden, Arps, Slate, Meagher & Flom (no change)
  4. Sullivan & Cromwell (no change)
  5. Davis Polk & Wardwell (no change)
  6. Simpson Thacher & Bartlett (no change)
  7. Latham & Watkins (no change)
  8. Kirkland & Ellis (no change)
  9. Gibson, Dunn & Crutcher (+1)
  10. Weil, Gotshal & Manges (+1)

You may be wondering where Cleary Gottlieb landed after falling out of the Top 10. Last year, the firm was perched in the number 9 slot, but this year, the firm fell three spots to to number 12. Better luck next time, Cleary.

There were also noteworthy moves outside of the Top 10. Three firms dropped out of the Top 100 entirely, and thanks to some major merger activity, five firms edged their way back in. Two spots opened due in part to the Arnold & Porter and Kaye Scholer merger (the combined firm is now known as Arnold & Porter Kaye Scholer, and is ranked at No. 29) and the recently announced Norton Rose Fulbright and Chadbourne & Parke merger (although the combination is not yet complete, the resultant firm has been ranked at No. 68).

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Firms that entered the Top 100:

Firms that dropped from the Top 100:

  • Bracewell (ranked No. 99 last year after a -15 drop)
  • Patterson Belknap Webb & Tyler (ranked No. 98 last year after a -3 drop)
  • Keker, Van Nest & Peters (entered rankings last year at No. 90)

Congratulations to all of the Biglaw firms that made the latest edition of the Vault 100 rankings. How did your firm do this time around? Email us, text us at (646) 820-8477, or tweet us @atlblog to let us know how you feel.

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Vault’s Top 100 Law Firms For 2018 [Vault]

Staci ZaretskyStaci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.

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