The Top Big Law Firms in 2024

Many lawyers and aspiring practitioners are struck by the allure of “Big Law.” Generally comprised of the largest firms in the US, Big Law can provide attorneys with an opportunity for high compensation and prestige. 

But what exactly do we mean by the term Big Law? Which law firms earn this distinction?

Here, we delve into the meaning of the term “Big Law” and the criteria for inclusion in this category. After a review of some of the top Big Law firms, we explore the pros and cons of a career in Big Law.

The definition of Big Law is a bit amorphous and varies depending on whom you ask. The term can refer to the total number of attorneys, total revenue, prestige, or some combination of these and other factors. Regardless of the exact criteria considered, some big names consistently appear in Big Law listings. 

Below, we review the big names in Big Law.

Curious who is deemed as one of the best law firms in America? Check out this post.

The top Big Law firms in the United States

The following are some of the top Big Law firms in the US, reflecting a range of practice areas and geographical bases.

The benefits of working at a Big Law firm 

Now that we have a working definition of the term, let’s examine the actual benefits of working in Big Law.

Name recognition

Many attorneys and attorneys-to-be are drawn to Big Law by the prestige and name recognition since many of these firms are household names. This prestige partly derives from the exclusivity of the firms, since they focus on recruiting new attorneys from among the best academic performers at the top law schools. 

If you aspire to have a career in Big Law, think about:

• Attending the highest-ranked law school you can
• Performing well academically
• Specializing in the practice areas that Big Law firms focus on.

Higher salaries

Another obvious draw of Big Law is the higher salaries commanded by associate attorneys, which can start over $200,000 annually. 

If you rise to the level of partner at a Big Law firm, your income potential is even greater, which means you should understand the partnership structure of the firm where you work.

High-profile cases

Big Law firms often represent high-profile clients and work on exciting cases that garner headlines. Depending on your goals, this type of high-stakes work may align with what you seek from a legal career.

Networking opportunities and mentorship

Working in Big Law also allows you to rub shoulders with some of the top attorneys in the country, who often possess highly specialized expertise and a great deal of influence. This situation presents opportunities for networking and mentorship that are not easily replicated at smaller firms.

Big Law salary scale

While we’re on the topic of salaries in Big Law, let’s discuss the Big Law salary scale.

In Big Law, lawyers are typically compensated according to the Cravath scale, a compensation model adopted by top-tier law firms to ensure transparency around lawyer salary. This payment system follows a lockstep structure based on the number of years since law school.

The name “Cravath scale” is derived from the Cravath system and the influence of Cravath, Swaine & Moore LLP, which is often seen as the standard for associate salaries, despite other firms like Milbank and Simpson Thacher leading the way in recent years with first-year associate salaries.

It’s a lockstep approach that associates, law students, and their in-house counterparts can closely monitor any shifts in the Biglaw salary scale. Historically, when one firm offers a higher salary, others tend to follow suit with salary increases shortly after.

What sets this scale apart is its uniform pay and consistent annual bonuses for all lawyers involved.

The downsides of working at a Big Law firm

It is important to look at the full picture and consider the downsides of working in Big Law. Even if you have excellent grades from a top law school, Big Law may not necessarily be for you.

Among the drawbacks of Big Law are high billable hour quotas and competitive work environments. Big Law is notorious for its “always on” culture, where attorneys are expected to work long hours, nights, and weekends on a regular basis. 

Even the allure of partnership is not a sure thing — it could take many years to make it to partnership level, with numerous pitfalls along the way. 

If Big Law is not for you, take heart that working at a smaller firm, or even starting your own firm, could lead to a very fulfilling career.  And, with the right legal technology, such as Clio, it’s never been easier to seamlessly manage your own law practice. 

Be sure to also read our blog post on advice for new lawyers.

Final thoughts on the top Big Law firms

With a sense of what firms fall under the Big Law umbrella, you can judge for yourself whether a Big Law career is your best option. Keep these advantages and disadvantages in mind while choosing your career path. To that end, take note of our resource for becoming an attorney, which contains information on specializing in the most common practice areas. 

If you’re still in law school, be sure to check out Clio’s Academic Access Program for a jump start on your legaltech education—it may just be the leg up you need for a successful career in Big Law (or elsewhere)!

We published this blog post in May 2023. Last updated: October 24, 2024.

Categorized in: Business