Behind the Rankings: Unveiling the Methodology of TIME and Statista in Determining America’s Top Law Firms of 2024

"Decoding Excellence: The Methodology Behind TIME and Statista's Determination of America’s Top Law Firms of 2024"

In a groundbreaking collaboration, TIME and Statista have unveiled the inaugural list of America's Top Law Firms for the year 2024, presenting the legal landscape's most recommended 150 firms. This prestigious ranking stems from an exhaustive survey that combines the insights of legal professionals themselves—through a peer-to-peer survey—and clients, including in-house lawyers from corporate legal departments.

The survey, conducted between May 8 and June 30, 2023, invited approximately 150,000 attorneys from across the United States to participate. The sample was meticulously collected using Statista's research methodologies, scouring company websites, publications, and professional networks such as LinkedIn. Personalized invitations, each with a unique and one-time-use link, were sent to ensure the authenticity of responses. An open link option was also available, but participants had to provide a personal company email address for their responses to be considered, thus maintaining the survey's integrity.

Self-recommendations were strictly prohibited, with a focus on gathering unbiased feedback. Statista not only recorded the recommendations from the survey but also incorporated data from its own international lawyer surveys. Additional company data, such as revenue and the number of employees, was sourced from voluntary information provided by the firms themselves or from public outlets like press releases and directories.

For a law firm to secure a spot on the final list, it had to meet specific criteria, including a minimum number of recommendations. The recommendations, originating from both this project's survey and other Statista lawyer surveys, were weighted and integrated into the evaluation. Furthermore, law firms had to demonstrate a global turnover of at least $200 million and employ a minimum of 100 individuals in the U.S. In cases where the total employee count was less than 100, a minimum of 50% of the workforce needed to be in the U.S.

This transparent and rigorous methodology ensures that America’s Top Law Firms of 2024 stand out not only for their legal prowess but also for their recognition among peers and clients. For a comprehensive view of the top-ranking firms, the complete list is available here.

In conclusion, the unveiling of America's Top Law Firms of 2024 by TIME in collaboration with Statista marks a significant milestone in recognizing legal excellence. This groundbreaking list, comprising the 150 most recommended law firms, is the result of a meticulous survey that incorporates the perspectives of legal professionals and clients alike.

The methodology employed in this determination is characterized by its transparency and thoroughness. A peer-to-peer survey, encompassing around 150,000 attorneys, and client insights from in-house legal departments contributed to the comprehensive evaluation process. The careful collection of data, including company websites, publications, and professional networks, ensured a diverse and representative sample.

Stringent measures were implemented to guarantee the credibility of responses, with personalized and one-time-use links sent to participants. The prohibition of self-recommendations added an extra layer of integrity to the survey, aiming for unbiased and authentic feedback. The inclusion of data from international lawyer surveys, along with voluntary company information and public sources, further enriched the evaluation process.

To secure a position on the final list, law firms had to meet specific criteria, including a minimum number of recommendations, a global turnover of at least $200 million, and a requisite number of employees in the U.S. This rigorous approach ensures that the selected law firms not only showcase legal excellence but also reflect a consensus of acknowledgment from both peers and clients.

The release of the complete list provides a valuable resource for those seeking legal expertise, offering a nuanced understanding of the top-ranking law firms. Through this transparent and comprehensive methodology, TIME and Statista have contributed to a meaningful and informed dialogue surrounding legal excellence in the United States.