How important is a top-notch pro bono score to success on The American Lawyer's A-List? It may be even more important than money. In our fourth annual list of the cream of the crop among the nation's elite law firms, 19 of the 20
A-List members also rank in the top quarter of our annual pro bono rankings. By comparison, 16 are in the first quarter when it comes to revenue per lawyer. The message: Revenues are critical, but ignoring pro bono is a sure way to miss the cut.
We compile The A-List by measuring performance of Am Law 200 firms in four key areas: revenue per lawyer, pro bono performance, associate satisfaction, and diversity. A-List scores are based on data collected from The American Lawyer's annual Am Law 200, pro bono, and associate satisfaction surveys, and the Diversity Scorecard compiled by our sibling publication Minority Law Journal. Some measures are more equal than others. We double the value of revenue per lawyer--our proxy for the ability to attract the best work from the best clients--and pro bono scores.
Our aim here is simple: We hope to determine, as objectively as possible, the firms that have been able to build successful practices without abandoning the profession's core values. We want to recognize the firms that have achieved the best balance of private gain, public service, workforce diversity, and quality of life. For law students who are now deciding where they want to spend the next few years after graduation--in some cases, the next 30 years--The A-List is a quick guide to some of the best employers in the legal profession.
Obviously, though, law firms are built to make money for their partners. This year, the average A-List firm scored revenue per lawyer of $880,000, or $205,000 more than the average Am Law 200 firm. Profits per partner were even better, hitting $1,355,000 at A-List firms--$450,000 more than the Am Law 200 average.
Even so, the average revenue per lawyer score for A-List firms declined a bit this year, from 349.8 points to 342.4. Meanwhile, the average pro bono score increased slightly, from 360.4 to 363.8. Because the leaders in pro bono are also making a lot of money, they are pushing some firms that are more profitable, yet less pro bono-oriented off The A-List.
In fact, this year, The A-List saw a good deal of churn. Seven firms fell from the list. In spite of all of the movement, however, the top two positions on our chart remain firmly in the hands of a pair of New York firms: Debevoise & Plimpton is number one for the third consecutive year, and Patterson Belknap Webb & Tyler holds on at number two for the second year. This year, Debevoise even extended its lead a bit: The firm's overall score climbed from 1,119 to 1,126 (out of a possible 1,200). Debevoise has hit upon the rarest of combinations: sterling revenue per lawyer and associate satisfaction scores, a strong showing on diversity, and, naturally, a near-perfect pro bono score. Doing well on each of those measures isn't easy. But hard work is the price that firms pay to ascend to The A-List.
|
2006 The A-List |
|
Rank |
Firm |
Total Score* |
RPL Score |
Pro Bono Score |
Associate Satisfaction Score |
Diversity Score |
|
1 |
Debevoise & Plimpton New York |
1126 |
183 |
199 |
185 |
177 |
|
2 |
Patterson Belknap Webb & Tyler New York |
1076 |
169 |
193 |
190 |
162 |
|
3 |
Latham & Watkins National |
1053 |
178 |
177 |
161 |
182 |
|
4 |
Davis Polk & Wardwell New York |
1040 |
196 |
166 |
127 |
189 |
|
5 |
Heller Ehrman San Francisco |
1037 |
167 |
192 |
164 |
155 |
|
6 |
Morrison & Foerster San Francisco |
1025 |
141 |
181 |
182 |
199 |
|
7 |
Paul, Weiss, Rifkind, Wharton & Garrison New York |
1023 |
194 |
172 |
91 |
200 |
|
8 |
Cleary Gottlieb Steen & Hamilton New York |
1007 |
182 |
182 |
88 |
191 |
|
9 |
Shearman & Sterling New York |
1003 |
190 |
191 |
53 |
188 |
|
10 |
Dickstein Shapiro Morin & Oshinsky Washington, D.C. |
1001 |
159 |
159 |
196 |
169 |
|
11 |
Weil, Gotshal & Manges New York |
999 |
188 |
174 |
94 |
181 |
|
12 |
Wilmer Cutler Pickering Hale and Dorr Washington, D.C. |
990 |
173 |
198 |
138 |
110 |
|
13 |
Covington & Burling Washington, D.C. |
983 |
155 |
200 |
122 |
151 |
|
14 |
Hughes Hubbard & Reed New York |
976 |
143 |
186 |
125 |
193 |
|
15 |
Fried, Frank, Harris, Shriver & Jacobson New York |
970 |
180 |
180 |
71 |
179 |
|
16 |
Bingham McCutchen National |
969 |
162 |
183 |
96 |
183 |
|
17 |
Jenner & Block Chicago |
968 |
138 |
194 |
192 |
112 |
|
18 |
Hogan & Hartson National |
964 |
141 |
197 |
142 |
146 |
|
19 |
Milbank, Tweed, Hadley & McCloy New York |
961 |
192 |
168 |
47 |
194 |
|
20 |
Gibson, Dunn & Crutcher Los Angeles |
957 |
193 |
146 |
188 |
91 |
|
*The total score was calculated by doubling the firms RPL and pro bono scores and adding those to the firms associate satisfaction and diversity scores. |