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
Many solicitors and aspiring practitioners are captivated by the prestige and high earnings associated with “Big Law.” This term refers to the largest law firms in the UK and US, offering lawyers opportunities for lucrative compensation, high-profile cases, and career advancement.
But what exactly constitutes Big Law, and which firms fall into this category? Below, we explore the definition of Big Law, highlight key firms, and weigh the pros and cons of pursuing a career in this elite sector.
What is Big Law?
Big Law refers to the largest and most prestigious law firms, often with multiple offices in major metropolitan areas such as London, New York, Los Angeles, Chicago and Washington, D.C. Many Big Law also operate internationally, handling complex, high-value cases across jurisdictions.
The definition of Big Law is somewhat flexible and can vary depending on whom you ask. The term often encompasses factors such as the total number of lawyers, total revenue, prestige, or a combination of these and other elements.
These firms are known for their expertise in high-value practice areas such as corporate law, mergers and acquisitions, banking, finance, and litigation. They often handle complex multi-jurisdictional matters for multinational corporations, government entities, and high-net-worth individuals. Regardless of the specific criteria used, certain high-profile firms consistently dominate Big Law rankings.
Below, we explore the leading names in Big Law, highlighting their influence and contributions to the legal industry.
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 refers to the five most prestigious and influential law firms headquartered in the UK, celebrated for their high earnings and significant impact on the legal market. These firms—Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, and Slaughter and May—are synonymous with excellence in complex, high-value legal work, particularly in areas such as corporate law, banking, finance, and mergers and acquisitions.
These firms are widely recognised for their international reach, managing major multi-jurisdictional transactions and disputes for a diverse range of elite clients, including multinational corporations, financial institutions, and government entities. Their ability to navigate intricate legal frameworks across borders has solidified their reputation as leaders in the global legal industry.
Joining a Magic Circle firm is often considered the pinnacle of success for ambitious lawyers due to the prestige associated with these firms. They consistently rank among the highest for earnings-per-partner and profitability within the UK legal sector.
For those aspiring to work at a Magic Circle firm, expect a fast-paced environment that demands excellence but offers unparalleled opportunities for professional growth, exposure to high-profile cases, and access to an extensive global network of legal professionals.
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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. |
| Ashurst | £961 million | 900 | Ashurst is a leading global law firm with world class capability and a prestigious international client base spanning corporates, financial institutions and governments. |
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. |
| Sullivan & Cromwell LLP | $1.9 billion | 875 | Sullivan & Cromwell LLP is recognised globally for delivering exceptional legal advice and representation. For over 140 years, the firm’s results have distinguished it as a benchmark for modern legal practice. |
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.
Being associated with a globally recognised firm can open doors to future career opportunities, whether within the legal industry or beyond.
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 legal 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. Mid-level associates often see their earnings increase substantially as they gain experience and take on more responsibility. 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.
For those who rise to the level of partner at a Big Law firm, the income potential becomes even greater. It’s crucial to understand the partnership structure of your firm, as partnership not only brings significant financial rewards but also grants decision-making authority and influence within the organisation.
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.
These cases often involve multinational corporations or government entities, giving lawyers exposure to complex legal challenges and significant industry impact.
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.
Building relationships with senior partners and colleagues can provide invaluable guidance for navigating your career path and developing your professional skills.
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. This demanding schedule can lead to burnout and negatively impact work-life balance, making it difficult to maintain personal commitments or pursue interests outside of work.
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. The path to partnership often involves navigating firm politics, meeting rigorous performance metrics, and competing against colleagues for limited spots.
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. Smaller firms often provide more flexibility, a collaborative environment, and opportunities to focus on niche practice areas that align with your interests. 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.
For some, the prestige, high salaries, and exposure to complex, high-profile cases make Big Law an ideal choice. For others, the demanding hours and competitive environment may lead them to explore alternative paths within the legal profession.
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)! Additionally, gaining experience with legal technology early can set you apart as firms increasingly rely on innovative tools to manage their operations efficiently.
Whether you choose Big Law or another path, equipping yourself with the right skills and tools will help you succeed in any legal career. Clio offers resources to support you at every stage of your journey—whether you’re aiming for a Magic Circle firm or planning to start your own practice.
Frequently asked questions
Here are some additional insights into common questions about Big Law careers:
What practice areas are most lucrative in Big Law?
Corporate law, mergers and acquisitions (M&A), private equity transactions, securities litigation, and intellectual property tend to be among the highest-paying specialisms.
Read more about legal salaries in the UK.
Can lawyers specialising in niche areas find opportunities in Big Law?
Yes. While corporate law dominates Big Law practices, there is demand for niche specialisations like international arbitration or intellectual property. However, fields like family law or criminal defence are less common in these firms.
What makes Magic Circle law firms stand out from other prestigious firms?
Magic Circle law firms are distinguished by their global reach, high profitability, and focus on complex corporate work such as banking, private equity, and mergers and acquisitions. They consistently handle high-value, multi-jurisdictional transactions and represent some of the world’s most influential clients, including Fortune 500 companies, major banks, and governments. Their reputation for excellence, combined with structured training programs and competitive salaries, makes them highly sought after by aspiring solicitors.
We published this blog post in January 2024. Last updated: .
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