Pirical Data Insights
Legal market insights using publicly-available data from Pirical Legal Professionals
As we near the end of the year, there have been a flurry of Partner promotion announcements from the top AM Law firms. Overall, the promotion class sizes have decreased for the second year in a row.
Herbert Smith Freehills will gain a stronger foothold in the US if the merger with Kramer Levin goes ahead.
We've taken a look at Partner headcount growth by practice between 2019-2024 to reveal which practices are on the up and which have been shrinking.
The sheer size of the New York legal market relative to other US markets makes it rather unique. The city is by far the largest legal hub in the United States, with close to 10,000 Partners from AM Law 200 & Global 200 firms calling it home.
This burst of activity clearly represents a desire from some AM Law firms to scale and grow.
Among the largest legal hubs in the United States, Boston has had the highest growth in Partner headcount (between May 2020 - May 2024). So let's take a deeper dive into the state of the Boston legal market and find out where this growth has been occurring.
Find out which practices are on the up, which have been shrinking and which US cities have had the highest growth.
Last week, Troutman Pepper and Locke Lord confirmed they had opened merger negotiations. If successful, the combination would create a law firm of around 1,600 lawyers and revenue of more than $1.5 billion. The merged firm would jump into the top 30 of the AM Law 100 (currently Troutman Pepper is 45th & Locke Lord is 96th). This made us wonder, what would the merged firm look like, and which offices & practices would see the most growth?
A few weeks ago we presented a deep dive into the state of the Bay Area Legal Market. We uncovered some interesting insights on Partner growth and the different strategies that some of the fastest growing law firms have deployed there, so we've published the findings as an article.