Contents
What is Big Law? The Top Big Law firms Top Big Law firms in the UK Top Big Law firms in the US The benefits of working at a Big Law firm The downsides of working at a Big Law firm Final thoughts on the top Big Law firms
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Many solicitors and aspiring practitioners are struck by the allure of “Big Law.” Generally comprised of the largest firms in the UK and US, Big Law can provide lawyers 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.
What is Big Law?
Big Law, sometimes styled as BigLaw or biglaw, is a term for the largest and most prestigious law firms. These firms have multiple offices, generally with presences in major metropolitan areas such as New York, London, Washington, D.C., Los Angeles, and Chicago. Many Big Law firms have international offices.
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 lawyers, 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.
The Top Big Law firms
Any list of large law firms in the UK would not be complete without mention of The Magic Circle.
The Magic Circle is a term used to describe the five most prestigious and influential law firms headquartered in the UK, known for their high earnings and significant influence on the legal market. These firms—Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, and Slaughter and May—specialise in complex, high-value work, particularly in areas such as corporate law, banking, finance, and mergers and acquisitions. The Magic Circle firms are renowned for their international reach and expertise in handling major, multi-jurisdictional transactions and disputes.
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Top Big Law firms in the UK
| Firm Name | Annual Revenue | Number of Lawyers | About |
| Allen & Overy | £2.6 billion | 4,000 | Allen & Overy advises blue-chip domestic and international corporates, financial institutions, investment funds, government bodies, and private individuals on finance, complex cross-border M&A, capital markets, and litigation, and more. |
| Clifford Chance | £2.5 billion | 3,680 | A leading international law firm that provides comprehensive legal services across various sectors, including finance, corporate, capital markets, litigation, and more. |
| Linklaters | £2.4 billion | 3,100 | Another global law firm that provides a wide range of legal services across various sectors including banking, corporate, capital markets, and litigation. |
| Freshfields Bruckhaus Deringer | £2.3 billion | 2,900 | British multinational law firm headquartered in London and a member of the Magic Circle. |
| Slaughter and May | £730 million | 560 | British multinational law firm headquartered in London, Founded in 1889, Slaughter and May is considered to be one of the most prestigious law firms in the world. |
| CMS | £2 billion | 4,500 | CMS is an international law firm providing comprehensive legal and tax services across various sectors. |
| Herbert Smith Freehills | £2 billion | 2,500 | An international law firm with headquarters in London, England and Sydney, Australia, widely regarded as one of the most elite and selective law firms in the world. |
| Eversheds Sutherland | £1.4 billion | 2,900 | Eversheds Sutherland, one of the world’s 50 largest law firms, was formed in February 2017 through the merger of Eversheds LLP and Sutherland Asbill & Brennan LLP. |
Top Big Law firms in the US
| Firm Name | Annual Revenue | Number of Lawyers | About |
| Kirkland Ellis | $6.04 billion | 2,300 | Commercial litigation and other corporate interests are primary areas of focus for this Chicago-based firm, founded in 1909, with nine major offices in the US. |
| Latham Watkins | $5.49 billion | 2,500 | This New York-based firm boasts offices in Europe, the Middle East, and Asia, a high-paying clientele, and a range of practice areas. |
| Norton Rose Fulbright | $2.1 billion | 3,300 | Formed by a 2013 merger between the UK-based Norton Rose and US-based Fulbright Jaworski, this international firm primarily represents major corporations, financial institutions, and innovative startups. |
| Baker McKenzie | $3.13 billion | 4,700 | Headquartered in Chicago, this general practice firm has 77 offices in 46 countries. |
| White & Case | $2.87 billion | 2,100 | New York-based with 44 offices in 30 countries, this international firm is a general practice specializing in “white-collar” law, such as antitrust and intellectual property. |
| Hogan Lovells | $2.61 billion | 2,600 | The product of a 2020 merger between US-based Hogan Hartson and UK-based Lovells, this general practice firm has twin headquarters in New York City and London. |
| DLA Piper | $3.47 billion | 3,700 | This firm covers a wide range of practice areas and maintains offices in 40 countries. |
| Jones Day | $2.45 billion | 2,500 | Founded in 1893, this firm represents over half of the Fortune 500 companies in a range of practice areas while focusing on corporate management, regulation, finance, and other facets of corporate law. |
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 solicitors and solicitors-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
- Specialising in the practice areas that Big Law firms focus on.
Higher salaries
Another obvious draw of Big Law is the higher salaries commanded by newly qualified solicitors at Golden Circle firms, which can start at £125,000-£150,000 annually. Salaries for experienced lawyers can vary significantly. However, senior lawyers at Magic Circle firms can earn £200,000 or more. For those who attain partnership status, earnings can rise into the seven-figure range for top partners.
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 specialised expertise and a great deal of influence. This situation presents opportunities for networking and mentorship that are not easily replicated at smaller firms.
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 with 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 regularly.
Even the allure of partnership is not a sure thing — it could take many years to make it to the 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 manage your law practice seamlessly.
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.
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 January 2024. Last updated: .
Categorized in: Business
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