SECOND TO NONE - The Am Law 200 rankings are here. And while it’s not a competition between the Second Hundred and the First Hundred, it also so totally is!!! And for most of recent history, the higher-ranked Big Law firms—those with more scale, scope and resources—have come out ahead. But not last year, Law.com’s Patrick Smith reports. In an expected year of regression after a fiscal 2021 that is consistently called an “anomaly,” the Am Law 200 firms (those ranked from No. 101-200) posted a collective 4.1% revenue growth in 2022, easily outpacing the 2.7% gains the Am Law 100 firms had, while also besting the first 100 in revenue per lawyer, profits per equity partner and most other financial metrics used to measure success.
COMPETITION AND CULTURE - It isn’t only Big Law that’s trying to nail down the true meaning of “culture” in a post-COVID work environment. Plaintiffs bar leaders are also weighing hybrid vs. in-office work policies, emphasizing collaboration as well as the training of younger attorneys and redefining big-picture goals. While the bar tends to be highly competitive externally when it comes to trial leadership committees and landing court victories, plaintiffs firms internally emphasize team work, integration and the joint mission to fight for a higher cause as the magic glue to firm integrity, Law.com’s Christine Schiffner reports. For example, the idea of “individual accountability and collective success” paired with preparation, dedication and hard work are some of the core values at Lieff Cabraser Heimann & Bernstein, according to managing partner Steven Fineman. “We define culture as inclusive, supportive, where intellectual rigor on behalf of clients and service of social justice go hand in hand.”