Chicago’s legal market at a glance
Just as the city’s skyline is filled with ambitious spires, so too is the roster of lawyers in the Windy City.
Chicago-based law firms continue to thrive. In fact, according to The American Lawyer’s 2019 AmLaw 100 rankings, Chicago has 2 firms in the nation’s top 10 and 8 in the top 100. From the much storied Kirkland & Ellis, which also happens to have the largest law firm office in the world with more than 1,000 lawyers in its Chicago headquarters, to global giants like Latham & Watkins and Mayer Brown, there are no shortage of industry stalwarts who call Chicago home.
But they are not alone. While it may be impossible to split its reputation as a financial and technology hub (and home to the Cubs!) with the reputation of a robust legal marketplace, there is still plenty to recommend Chicago’s law firms to talented young lawyers. The city is home to nearly 500 law firms, encompassing nearly 6,000 lawyers, including both large national firms and regional boutiques.
"You can find just about any type of law here," says one Chicago-based lawyer and former hiring partner. "Chicago has big firms that do big work, but also not-so-big firms that do big work … as well as boutique firms that are doing interesting work for companies around the country."
Overall, the legal market in Chicago is robust and diverse, with firms that cover an impressive range of legal disciplines. Those firms are not just busy; they need to be. Illinois is one of the fastest-growing legal markets in the country — and that growth is reflected in the number of job postings . Chicago hosts an average of 535 job postings daily, all 12 months of the year.
Per Regions of Opportunity: A Study of the Chicago Market, an in-depth analysis of the legal market compiled by Lateral Link partner Roberta Durrant in cooperation with Law360, Chicago’s leading legal market segments are:
The American Bar Association’s 2019 Profile of the Legal Profession indicates that in addition to its deep roster of globally-recognized law firms, Chicago is also home to 11 district court judicial vacancies, housing judicial vacancies level with only Washington, D.C. in the nation. Chicago’s rate of legal employment growth was also among the highest in the nation. That said, while law firm demand for legal services has been rising, rates of employment growth have been more modest.
According to Chicago-based legal recruiter Karie Soules, "Chicago is a highly desirable destination for incoming talent from other cities, and the quality of attorneys in the market consistently remains high." While the city may have boom times from an attorney hiring perspective, her observation mirrors that of the study – that the rate of growth means more "stock" than "flow" in legal hiring in comparison to other major cities.
Chicago is undeniably a city of opportunity for lawyers. The combination of quality firms, market diversity, and quality of life make the legal industry a major engine for the city’s economy. In the past several years, several firms have opened offices in Chicago, and despite the market’s rapid growth, there are still job shortages in every practice group.
Top Chicago law firms by area of practice & size
Today, we look at the top hiring legal employers in Chicago. With law school enrollment down nearly 25% over the past six years, many things suggest that this slow job market has changed as we enter 2019. Law firms are much more willing to hire young lawyers (permanent and temp-to-hire). Many of the firms discussed here are also opening office in some of the cities hardest hit by the recent recession. There have also been plenty of mergers in the last two years. This article contains information from a 2019 survey conducted by our colleagues at Above The Law which is reproduced here with permission. Our survey shows that the firms below are the most prestigious on the Chicago employment market. Some of these firms were not on the market just a couple of years ago. Yet, many of these firms now have robust recruiting programs and actively consider students from Chicago law schools. As the legal market remains competitive, it is clear that these firms have been active in recruiting.
Kirkland & Ellis LLP, based in Chicago, is the world’s largest law firm by revenue. Based in Chicago, Illinois, the firm employs more than 1,600 attorneys, with 25 offices in North America, Europe, Asia, and the Middle East.
Sidley Austin is a firm based in Chicago, Illinois. With more than 1,900 lawyers and 13,200 staff, Sidley is one of the largest full-service law firms in the world. The firm is focused on providing services in the finance and litigation areas.
Baker McKenzie is one of the most prestigious and well-respected international law firms in the world. Baker McKenzie has 77 offices in 47 countries and 4,500 lawyers around the world.
Skadden, Arps, Slate, Meagher & Flom, commonly referred to as merely Skadden, is a prestigious American corporate law firm with worldwide interests and practices. The firm is organized into departments, each further subdivided into practice groups. The 13 departments include practices in financial services, mergers and acquisitions, tax, antitrust, intellectual property, executive compensation and benefits, health care, environmental, energy and resources, labor and employment, private equity, real estate, private equity, litigation and business crimes and government investigations.
Typical Roles & Duties Inside Law Firms
Many different kinds of positions are available at Chicago law firms, and while each position will have its own specific duties and requirements, the three most common categories of positions are partner, associate and paralegal. These nondescript titles are not always well understood by people outside the legal profession because there are often different etymologies and connotations to each of those terms.* In most cases, associates work directly under partners on an ‘of counsel’ or attorneys who specialize in a particular area of law.
Associates are the entry-level, junior position at most firms, acting as apprentices to partners. If all goes to plan, associates will be promoted through the ranks to become full-fledged partners at the firm after a period of time. Even if little promotion is expected, however, associates play an important role in doing legal research, preparing documents and in some cases, even going to court.
Partners are the senior-most members of the firm, typically holding either a non-equity or equity status. Non-equity partners may receive a base salary and a share of the profits, while equity partners tend to own a portion of the firm. Equity partners are more likely to have their names listed at the firm, as they share both risk and reward with the rest of the equity owners. They are generally expected to have already proven themselves as successful in their practice areas and are viewed as leaders of the firm.
Paralegals act as support staff to attorneys, assisting on legal matters under the supervision of lawyers. Their basic job description includes drafting pleadings, assisting in discovery, summarizing depositions and interviewing clients. Paralegals are prohibited from handling "any task that constitutes the unauthorized practice of law," according to the American Bar Association. For instance, paralegals cannot give legal advice, represent clients in court or select juries. An exception to this rule, however, applies to Real Estate paralegals, who may have contact with homeowners’ associations.
Of course, like with any business, there are many administrative roles to keep Chicago law firms functioning. Legal assistants, for example, perform a number of routine administrative tasks. Marketing personnel, accountants, clerks and IT staff also play an important role in keeping law firms and their offices running.
* For example, an associate is someone who takes part in a joint undertaking — such as a partnership — but in a business context, it usually means someone hired to work under a partner or senior member for a legal firm.
Desired Qualifications & skills for law firm positions
While experience and in-depth knowledge of the law are prerequisites for any lawyer, there are other factors that carry significant weight when seeking a new Chicago law firm opportunity. Chicago firms typically require their attorneys to be in good standing with the Illinois Bar and practice in a strong area of the law to continue to be an asset in the highly-competitive legal industry.
Law firms today seek attorneys with at least two years of practice behind themselves (although there are opportunities for entry-level candidates who have excelled in their legal studies). A solid academic record, as well as demonstrated job performance, is key to being competitive when applying for a new position. While long-term job stability is a plus, Chicago firms understand that frequent job changes are becoming the new normal and will look at the circumstances behind your transition between employers.
Attorneys who receive professional certifications, such as those awarded by the American Board of Certification, American Institute of CPAs and National Association of Certified Valuators and Analysts, give themselves a significant advantage. Likewise, those with advanced area-specific degrees are a good fit for Chicago law firms, as they bring highly specialized knowledge to the firm.
Networking and business development are critical to successful Chicago lawyers, meaning they must be personable in the midst of their strong work ethic. Law firms value those who are deeply committed to their careers and view the law as more than just a job. Firms also look for those who can responsibly market themselves and are aware of their unique value proposition.
How to apply and network for law firm opportunities
Networking in Chicago’s legal market is vital, as the vast majority of attorney employment opportunities are obtained through personal connections rather than postings on job boards or national recruiting site. While social media is increasingly important as it relates to networking, the importance of traditional networking – and the personal contact behind it – should not be underestimated:
• communicate with friends practicing in Chicago or who have connections to the Chicago area
• set up an information interview with your contacts in Chicago, and others in your network , if they are willing to arrange it. Be respectful their time and gracious to them.
• if you attended law school in or outside of Chicago, contact the career services office. They are a great resource and have innumerable contacts in the area.
• use LinkedIn to identify individuals with whom you have shared contact – former classmates, co-workers, etc. – and get in touch with them.
• review this article’s links to law firms in Chicago to identify prospective employers by practice area and/or industry group.
Applicants should expect and be ready to answer the common and unique questions as part of their application to a law firm from a recruiter.
Career paths & opportunities for advancement within Chicago law firms
When careers in Chicago law firms are placed under microscopes they tend to look a lot different than from afar. Law firms often have clear guidelines on how to advance, something that is rare in other industries. And there are so many firms out there that competition among them helps ensure a high quality of life for employees. Among the larger firms in Chicago the distinction between partners and associates is pretty clear cut, something that helps you know what your trajectory will be as an associate. As an associate you are on track to becoming a partner. After roughly six years, season permitting, you will either make partner or be "up or out" (assume you do suitable work of course!). The partner demographic can be divided into equity and nonequity. As an equity partner you essentially have a say in how firm equity is divided and also have goodwill in the firm. You are also expected to bring in a certain level of business each year. Although many law firms in Chicago still have these traditional roles, many have shifted away from the more regimented track to more of a meritocratic system. That means you won’t necessarily have your future as a partner charted out like it would have been in the past. Partner is now essentially a reward based on your performance rather than a given that comes after a certain time period. Although law firms in Chicago still build their personnel hierarchies around the position of partner, they value talent and performance over longevity. If you go outside of the Chicago firm power circle (the local firms that matter most) you will find other kinds of firms that offer different career advancement models. Some are specialized in that they offer expertise in a niche area of law like intellectual property or entertainment. They typically offer less in terms of prestige and pay than the best Chicago firms, but they might be more suited for people who have different interests or personal obligations at home and want a more predictable work environment. There are a wide variety of firms in and around Chicago, with some that are much better than others. Finding the one that is right for you and your aspirations will be a big step in advancing your legal career.
Working at law firms in Chicago: challenges & rewards
Like any city in the world, Chicago and its law firms have their share of issues that impact employees. Among the most common challenges faced by law firm employees in Chicago include high stress levels, demanding work hours, and intense competition. Perhaps the most overlooked issue is the high turnover rate. The same Vault Survey noted that a large portion of respondents expressed dissatisfaction with their firm. Some of the most common complaints are that their firm lacked diversity or was working them too much for minimal return. High stress levels and work hours go hand-in-hand. Chicago is no stranger to long work days with some firms dividing up their offices between the central area and suburbs. It’s not uncommon for an employee in the suburbs to feel pressure when their partner needs to meet at the main office in the center of the city during a busy workweek. The competition is fierce and unrelenting. Many partners have expressed concern in recent years that too many associates are vying for a limited number of seats and many times , paralegals are asked to file the work of associates away for later. This can be demoralizing for those who are hoping to advance their career, as even performance reporting seems to be falling behind the pace of rapid change. However, with challenges comes rewards, and law firm careers in Chicago typically pay well. The average attorney in the Windy City enjoys a salary in the six-figure range with bonuses annually. Partners at similar firms even see paydays into millions. These financial incentives are what makes legal careers in Chicago appealing to many. In a city of nearly three million residents, competition is never far behind. But neither are rewards. Salaries and benefits packages certainly bring in top talent, but it’s the reputation of a firm that has earned its way to the top that secures long-term prospects.