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According to ALM Media (Jun-22) equity partnership ranks across law firms remained mostly flat in 2021, despite fantastic financial performances for many firms. The average equity partner head count among Am Law 100 firms stayed at 212.6 between fiscal years 2020 and 2021, while the median head count barely increased, from 170.9 to 171.0. The...

According to data released by the Bureau of Labor Statistics the legal services sector added 600 jobs in May 2022 totaling 1,178,800. The job count includes lawyers, paralegals, and other legal professionals. The May total is nearing the historic high of 1,179,500 legal sector jobs reached in May 2007, shortly before the Great Recession hit,...

According to the latest Thomson Reuters Institute’s survey, top concerns for law firms’ management are talent as well as environment, social and governance (ESG) matters. Talent concerns consumed the lion’s share of leaders’ thinking. The competition for talent has been particularly fierce over the past six months, with many law firms constantly struggling to keep...

Large law firms are increasingly setting up new business units and subsidiaries in the U.S, in part to compete with a growing number of alternative legal services providers. These vary from consulting services to technology businesses that assist clients and provide them with tools for legal and compliance work. Reed Smith, Wilson Sonsini Goodrich &...

According to the Thomson Reuters Institute’s latest Law Firm Financial Index, law firm profitability slowed in the first quarter of 2022. The index score hit its lowest point since the third quarter of 2009 — a steep decline that may take many people by surprise given how busy lawyers and firms are. By most indicators, 2021...

In May 2022, Kirkland & Ellis, and Winston & Strawn announced they would open a new office in Miami, a sign the city’s appeal for large out-of-town law firms is on the rise. Kirkland said the firm would relocate four corporate partners for the Miami launch while Winston & Strawn recruited six partners from rival...