Separation Between Big Law Elites and the Rest Is Intensifying | The American Lawyer - The American Lawyer

What You Need to Know

• The pandemic appears to have only exacerbated the trend of consolidation in Big Law.
• The effects have been wide ranging and touch on talent, mergers and compensation.
• Industry experts see no signs of relief going into next year.

In Big Law, which was already showing obvious stratification in recent years, the elite and most profitable firms have pulled even further ahead in a dynamic only exacerbated by the pandemic.

The residual effects of consolidation at the top of the industry can be seen in the current environment: the increasingly exorbitant arms race for talent, several-hundred-lawyer firms looking to quickly scale up through combinations, increasingly disparate financial outcomes, and constant rate increases at the leading firms while other firms face rate pressure.

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source: https://www.law.com/americanlawyer/2021/11/12/separation-between-big-law-elites-and-the-rest-is-intensifying-405-94019/

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