Many of the biggest, most profitable law firms are continuing to get bigger. But that doesn't mean there's less room for smaller firms to occupy a leadership position in a set of practices or with a standout culture.
While name recognition still benefits BigLaw in the recruiting process, even the most revered of those firms may have to work a little harder to appear lucrative to junior lawyers, and even more so to partners, who are placing a greater emphasis on diversity, mental health and work-life balance.
The widening revenue gap between a handful of legal titans that pull in billions each year and other law firms will only continue to grow, experts say, resulting in a market consolidation that will likely give them a competitive advantage even over their BigLaw peers.