National Jurist - October 2007 - (Page 12) THEFIRMREPORT Vault’s ‘Most Prestigious’ firms announced or the fifth straight year, Wachtell, Lipton, Rosen & Katz commands the top spot of Vault’s Top 100 Law Firms. For the 2008 edition of the Vault Guide to the Top 100 Law Firms, more than 18,800 attorneys rated the country’s law firms based on each firm’s prestige. Attorneys were not permitted to rate their own firms. The New York-based Wachtell, Lipton posts the highest by Michelle Weyenberg earnings-per-partner in the world, said Brian Dalton, Vault law editor. “It’s a relatively small firm and it’s nearly impossible to get a job there,” he said. Martin Lipton, partner of WLRK, says they are a real partnership that functions like a real partnership and not a hierarchical corporation. They command the top spot “because all the lawyers and staff take great pride in the firm and what it does for its clients.” Dalton said they sent out the survey to more firms than ever before. “Increasingly, the firms themselves encourage their associates to take it,” he said. “They perceive that it is in their interest to have the broadest response possible.” Law firms are evaluated in terms of strength in practice type, various quality of life issues, diversity and best in region. Most prestigious law firms The top 10 law firms as ranked by Vault.com are: 1. Wachtell, Lipton, Rosen & Katz 2. Cravath, Swaine & Moore 3. Sullivan & Cromwell 4. Skadden, Arps, Slate, Meagher & Flom 5. Davis Polk & Wardwell 6. Simpson Thacher & Bartlett 7. Cleary, Gottlieb, Steen & Hamilton 8. Latham & Watkins 9. Weil, Gotshal & Manges 10. Covington & Burling New York, NY New York, NY New York, NY New York, NY New York, NY New York, NY New York, NY Los Angeles, CA New York, NY Washington, DC To see all the rankings go to www.NJPLonline.com and click on the Careers page. as the Best Law Firms for Women are redefining standards of success and creating workplaces that encourage the retention and promotion of women. Working Mother magazine and FlexTime Lawyers LLC, a national consulting firm advising attorneys and legal employers on work-life balance Best firms for women and retention and advancement Here are the three law firms that ranked in both of women, joined Working Mother’s best law firms for women and Vault. togethcom’s most prestigious law firms: er to Covington & Burling Washington, D.C. improve the status Cravath, Swaine & Moore New York, NY of women Skadden, Arps, Slate, Meagher & Flom New York, NY in the profession Here are the six law firms that ranked in both Working and raise Mother’s best law firms for women and Vault.com’s the bar on Best Firms to Work For (see story on page 24): what makes Baker & Daniels Indianapolis, IN a best law firm for Dickstein Shapiro Washington, DC women. Manatt, Phelps & Phillips Los Angeles, CA The top firms are notable Morrison & Foerster San Francisco, CA for their work-life and womenPatton Boggs Washington, DC friendly policies — including Paul, Weiss, Rifkind, Wharton & Garrison New York, NY flex-time, child care and womenfocused mentoring, leadership Information from the 2007 Working Mother magazine and networking programs. and Flex-Time Lawyers LLC To see all the rankings go to To see all 50 firms in the Working Mother rankings, www.NJPLonline.com and click go to www.NJPLonline.com and click on the Careers on the Careers page. page. In a profession often distinguished by cut-throat competition, 100-hour work weeks, and few women in top partnership positions, the firms cited for 2007 by Working Mother and Flex-Time Lawyers Working mother Atlanta-based firm kills billable hour requirement for firstyears First-year associates at Ford & Harrison, a 190-attorney labor and employment firm, will no longer feel the demands of the billable hour. The program aims to close the practical skills gap of law school education and increase value to clients, according to an article in the National Law Journal. “Everyone sits around and complains about the problems,” said C. Lash Harrison, managing partner of the law firm, to the National Law Journal. “I figured, what the heck, maybe we can try something.” Associates will now spend their time observing depositions and witness interviews, along with attending hearings and litigation strategy meetings. While the firm has no specific expectations of associates meeting the 1,900 billable hours it previously required from new attorneys, it does anticipate that some of the work they undertake during their first 15 or so months will be valuable enough to bill, the National Law Journal said. —Michelle Weyenberg 12 THE NATIONAL JURIST October 2007 http://www.Vault.com http://www.NJPLonline.com http://www.Vault.com http://www.NJPLonline.com http://www.NJPLonline.com
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