The Best Law Firms To Work For (2015)
Making it to midlevel status in Biglaw isn't easy -- but once you get there, life is pretty good.
Making it to midlevel associate in Biglaw isn’t easy. First you have to break into Biglaw in the first place — which can be quite difficult, especially if you didn’t go to a top law school or earn top grades. Then you have to survive the high stress, long hours, and layoffs (depending on your firm). Finally, you have to turn down the many appealing opportunities that are offered to experienced Biglaw associates, including in-house gigs and government jobs.
But if you do make it to midlevel status, it’s arguably better than ever. As we noted in Morning Docket, the American Lawyer just released its midlevel associates survey, and respondents are even happier than they were last year. Per Am Law’s MP McQueen:
For midlevel associates at Am Law 200 firms, life just keeps getting better and better. Third-, fourth- and fifth-year associates responding to this year’s Midlevel Associates Survey gave firms an average composite score of 4.14, on a scale from 1 to 5, higher than last year’s 4.08, which itself was the highest in a decade.
One likely reason for the high level of satisfaction: supply and demand. Hiring freezes and layoffs in the last recession, followed by a drought of law school enrollees and graduates, have created a shortage in the midlevel ranks. “There is just a smaller number of associates, particularly on the corporate side,” says Stephanie Biderman, managing director in the associate practice group of recruiter Major, Lindsey & Africa.
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Exactly. At this year’s NALP conference, one major theme of the panels on lateral hiring was how much firms covet experienced associates given the current shortage of them. Firms that are lucky enough to have a decent supply of midlevel associates tend to treat those associates very, very well.
And some firms treat their midlevels even better than others:
Paul Hastings led our survey’s national rankings this year with an average satisfaction score of 4.90, followed by Cozen O’Connor in second place; O’Melveny & Myers in third; and Blank Rome, fourth.
What do these four fabulous firms share in common? Given that ILTACON, one of most important legal technology conferences, is now underway, this observation seems fitting:
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One unsung key to retention could be technology. We found that overall satisfaction of midlevel associates, as measured on our survey, was strongly statistically correlated to their law firm’s scores on four questions involving technology.
[The top four firms in the survey] had the highest combined scores on the technology questions. Cozen O’Connor led with 4.85, followed by O’Melveny with 4.70, Paul Hastings (4.68) and Blank Rome (4.64). In fact, eight of the top 11 firms in the national satisfaction rankings also were at the top on the technology questions. Conversely, many of the firms that occupy the bottom of the national satisfaction rankings also place low in the technology survey.
I’m not surprised by Cozen O’Connor’s high score; the firm places a strong emphasis on giving its lawyers the technology they need to succeed. At the firm’s retreat last November, associates got to go to a “Tech Deck” to pick out a brand-new, customized computer setup, choosing from a range of laptops, tablets, and other devices.
The firms at the very top of the survey historically have done quite well. Other firms in the top ten made major moves upward:
Some firms consistently rank well or poorly on the survey. Paul Hastings, for instance, has ranked highly for at least the past five years. This year it moves to No. 1 on our national rankings, from No. 2 a year ago. (Last year’s No. 1, Nutter McClennen, was not eligible for this year’s survey because it is not an Am Law 200 or Global 100 firm.) Other firms that did well this year include Cozen O’Connor, which came in second, up from third; O’Melveny & Myers, which was third, up from seventh; Blank Rome, which was fourth, up from 65th; Ropes & Gray, which was fifth, up from 11th; and Milbank, Tweed, Hadley & McCloy, which was sixth, up from 91st.
The remaining top 10 firms: Gibson Dunn (#7), BuckleySandler (#8), Irell & Manella and Williams & Connolly (tied for #9). Congratulations to them and all the other firms that fared well in the rankings, which can you view over at Am Law.
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Last month, Vault released its own list of best law firms to work for. Five firms made both the Am Law and Vault top 10 in terms of best firms to work for:
- Paul Hastings – #1 for Am Law, #1 for Vault
- O’Melveny & Myers – #3 for Am Law, #3 for Vault
- Ropes & Gray – #5 for Am Law, #2 for Vault
- Gibson Dunn – #7 for Am Law, #7 for Vault
- BuckleySandler – #8 for Am Law, #5 for Vault
Congratulations to Paul Hastings on topping both lists. If anyone can get away with taking associates out of offices and sticking them into cubicles, Paul Hastings can. In fact, given its enviable track record on associate happiness, perhaps Paul Hastings knows something the rest of Biglaw doesn’t?
Readers, what are your thoughts on the latest Am Law and Vault rankings? Check out the complete rankings via the links below and share your findings in the comments.
The 2015 Associates Survey: Happier Than Ever [American Lawyer via Morning Docket]
Best Law Firms to Work For [Vault]
Earlier: The Best Law Firms To Work For: Midlevel Associates Speak (2014)
More Bad News For Biglaw Associates?
