Despite BigLaw’s obsession with growth and firm size over the past ten years, many of the largest US firms are taking more measured and strategic approaches to growth, according to the 2016 NLJ 500 Survey of the Nation’s Largest Law Firms. Others are intentionally down-sizing to improve their competitive positions.
In Katelyn’s short article, she observes some interesting trends in today’s evolving legal market. Here are a few findings:
- Big Law is Getting Bigger. 163,700 lawyers (about 21% of the total number of lawyers) work in the 500 largest US law firms, up 2% from last year.
- Baker McKenzie’s lawyer headcount grew 6% in 2016, and it remains the largest US-based law firm with 4,600 lawyers. DLA Piper, which saw headcount decline by 4%, is number #2 with 4,200.
- Firms with biggest increases in lawyer headcount in 2016: Fox Rothschild, Husch Blackwell, Buchatler Nemer.
- Firm with biggest decreases in lawyer headcount: Jackson Kelly, Lindquist & Vennum and ROIG Lawyers.