Against a backdrop of economic anxiety and uncertainty, the country`s largest companies set records for the post-Great Recession period. Some of the impressive revenue growth can be explained by harder-working lawyers. According to data from the 61 firms that provided billing figures to the American Lawyer, billed hours increased by 5.7% compared to 2020. Meanwhile, the number of employees in the Am 100 law has increased by only 2.1%. As we can confirm at Lateral Link, companies have been eager to add talent in 2021, but growing ranks has been challenging given the intense competition. Experts and observers have long raised red flags about a growing and possibly inflated non-stock market ratio. But as companies experience record success during the pandemic and the non-equity ratio continues to grow, have these fears been exaggerated? How much harder have lawyers worked in 2021? According to the American Lawyer, among the 61 firms that submitted billing data to Am Law, the total number of hours billed by lawyers increased by 5.7% between 2020 and 2021, and the average Am Law 100 lawyer charged 3.9% overtime in 2021. That may not seem like much, but as Dan Roe of Am Law noted, it comes down to two more weeks of work. Make hay while the sun shines – and in 2021, the big rights companies did just that. Taking advantage of a strong economy and a booming M&A market, the Am Law 100 achieved what Ben Seal of The American Lawyer called “the group`s best financial results in a generation.” Seven of the top 10 law firms increased their revenues per lawyer by double digits (up from four in 2020). Once again, Wachtell and Sullivan & Cromwell took the top two spots.

Davis Polk has cooled somewhat after its 22% growth in 2020 in terms of LPR, the market leader. Cravath impressed with his climb from #10 to #3 (reflecting Davis Polk`s jump in 2020). Quinn Emanuel and Paul, Weiss climbed into the top 10, ousting Cahill Gordon and Debevoise. Sullivan & Cromwell, one of the most prestigious law firms, takes a generalist approach that allows lawyers to work in all sectors and sub-groups. With a strong focus on mentorship and career guidance, S&C is committed to helping its lawyers chart their future path. Sullivan & Cromwell, a powerhouse of BigLaw, followed, if not created, the plan for legal success: it expanded internationally and in response to the growing demands for mergers and acquisitions, restructurings and cross-border financial transactions of the world`s largest corporate clients. And finally, everyone`s favorite ranking: the top 10 companies by profit per equity partner. You can access the full list here. An analysis of data from 12 years since the Great Recessions shows that above-average companies can emerge from any region of the country – and from any region in the ranking. Revenue growth has been strong across all areas, with each Am Law 100 company experiencing an increase (compared to the 26 companies that experienced a revenue decline in 2020). Remarkably, 63 companies increased their sales by at least 10% and 18 by at least 20%.

Dc-based Steptoe & Johnson is attracted to candidates with internship or government experience, and the right personality is a must. The company is dedicated to employee development, with early opportunities for challenges and truly invested partners. Today, the firm is a consultant to a number of blue-chip clients and is consistently ranked among the top companies in the areas of international trade, insurance, taxation, intellectual property, energy, defense against white-collar crime, and the ever-changing arena of Internet law. A dozen years of data since the Great Recession shows that resilient law firms have outperformed the competition over the past decade. In the tense present moment, the story contains lessons for the last reset of the competition. Troutman Sanders was founded in Atlanta more than a century ago, and Pepper Hamilton was founded in Philadelphia more than 125 years ago. In 2020, the companies merged into a mega-company with more than 25 national offices. Troutman Pepper`s lawyers work in more than 20 business areas. The industries it serves include construction, energy, finance, healthcare, insurance, private equity, real estate and technology.

Lateral Link is one of the highest-rated international law firms. With more than 14 offices worldwide, Lateral Link specializes in the organization of lawyers with the most prestigious law firms and firms in the world.