The top law firms you see today are considered the top firms not just because of the courtroom results but because of what they do internally to set themselves up for stability. And having real-time data that looks beyond financials has never been more important, especially in current volatile economic times.
Using uncompromised datasets, the legal industry's most up-to-date ranking system, the Leopard Law Firm Index, ranks the top law firms in real-time by key indicators of legal industry success, profitability, viability, growth, and potential opportunity. Based on their accumulative performance throughout the year, the 2022 Index recognized the top 200 law firms, awarding Kirkland & Ellis LLP the top position, with Greenberg Traurig LLP, Latham & Watkins LLP, Morgan, Lewis & Bockius LLP, and Goodwin rounding out the top five.
The firms that made the leaderboard of the 2022 Leopard Law Firm Index showcased their drive for growth and stability by consistently ranking high in areas such as:
- Growth in attorneys
- Average attorney tenure
- Increase in revenue per lawyer (RPL)
- Success in lateral hiring
- Promotions to partner
- Ethnic diversity within the firm
The complete list of the 2022 top 200 firms is available here.
Why Using Real-Time Data is Essential for Successful Law Firms
Traditional rankings in the legal industry have sought to evaluate law firms against their peers in a variety of categories, with financial performance being the top-ranked metric. Those rankings are nearly obsolete by their release and rarely accurately measure a law firm's health, stability, and success by using key self-reported financial data. In today's fast-paced world, real-time data that changes as the facts change is of critical importance.
"Real-time data analytics and analysis are more critical than ever," says Laura Leopard, Founder and CEO of Leopard Solutions. "A law firm's health, stability, and success can change in a single quarter. That data should be and can be available if you use metrics that are informed in 'real time' as the firm itself changes."
With real-time data, Law firms can better measure their true performance, diagnose potential issues threatening the health of their organization, and proactively plan their recruiting and growth strategies. At the same time, in-house counsel can get a more accurate sense of how law firms are performing in the present day and identify and engage the right law firm for the legal services they need.
Updated twice weekly using hard data instead of self-reported survey material, the Leopard Law Firm Index focuses on the overall health of a law firm – in real-time. The Leopard Law Firm Index Report is available on Leopard Solution's Business Intelligence (BI) platform for more in-depth and on-time analysis.
View the most up-to-date rankings and learn more about Leopard Law Firm Index here.
