This report from the American Lawyer is choc full o’ data and graphs that for the most part tell us what we already know: Despite the economic downturn, the steady progress of technology and legal outsourcing, there is still a lot of demand for the legal services of BigLaw firms.
By our estimates, in 2010 the Am Law 200 firms appear to have increased their share of the domestic U.S. legal market to 47 percent of all spending on law firms. And since then they have maintained that wildly disproportionate share.
Of course, as the American Lawyer report points out, this is no longer the case for BigLaw firms that imploded, such as Howrey, Heller and Dewey.
Care for some irony with that coffee?
For the most part, however, this article provides good news for those of us climbing the BigLaw ladder to partnership and excellent news for new or soon-to-be lawyers looking to break into BigLaw.