This BigLaw firm tops 'A-List' despite lower gross revenues
Munger, Tolles & Olson is No. 1 in a ranking of “A-List” law firms that is based on a combination of cultural and financial factors. (Image from Shutterstock)
Munger, Tolles & Olson is No. 1 in a ranking of “A-List” law firms that is based on a combination of cultural and financial factors.
Munger Tolles is ranked No. 124 in terms of gross revenue, but it has a No. 1 ranking on the top 20 A-List for three years, Law.com reports.
The American Lawyer’s A-List of top 20 firms, published by Law.com, is based on revenue per lawyer, pro bono work, associate satisfaction, racial diversity and the percentage of female equity partners, Law.com explains. Revenue per lawyer and pro bono commitment are given double weight.
Munger Tolles is among a handful of firms that were on the A-List in 2019 and today, Law.com reports in a separate story.
“But just as many have fallen out of the top 20 entirely, and a couple of them don’t even technically exist anymore,” according to the article.
Two firms on the 2019 A-List no longer exist because of mergers. They are Buckley, which was No. 17 in 2019, and Shearman & Sterling, which was No. 16 in 2019.
Firms on the A-List in 2019 that are no longer in the top 20 include Simpson Thacher & Bartlett (dropping from No. 19 in 2019 to No. 55 in 2024), Paul Hastings (dropping from No. 12 in 2019 to No. 21 in 2024) and Kirkland & Ellis (dropping from No. 16 in 2019 to No. 27 in 2024).
Munger Tolles attributes its staying power to a culture that provides transparency and early responsibility to lawyers, according to Law.com.
Here are the top 10 of the top 20 firms on the 2024 A-List, along with their 2019 A-List ranking:
- Munger, Tolles & Olson (No. 1 in 2019)
- Ropes & Gray (No. 3 in 2019)
- Wilmer, Cutler, Pickering, Hale & Dorr (No. 2 in 2019)
- Morgan, Lewis & Bockius (No. 14 in 2019)
- Orrick, Herrington & Sutcliffe (No. 4 in 2019)
- Skadden, Arps, Slate, Meagher & Flom (No. 9 in 2019)
- Cleary Gottlieb Steen & Hamilton (No. 33 in 2019)
- Akin Gump Strauss Hauer & Feld (No. 23 in 2019)
- Willkie Farr & Gallagher (No. 31 in 2019)
- Gibson, Dunn & Crutcher (No. 13 in 2019)
