#United States #New York #Cravath #Vault 100 #Kirkland Ellis

Overview

The latest rankings by Vault Law have been unveiled, and Cravath, Swaine & Moore LLP has once again secured its position as the most prestigious law firm in the United States. This marks a decade of leading the Vault 100, an acknowledgment based on the sentiments of over 20,000 law firm associates surveyed between January 28 and March 21, 2025.

Noteworthy Changes and Rankings

The Vault 100 witnessed significant rankings changes this year alongside Cravath's steadfast position at number one. Kirkland & Ellis, having previously held the sixth position, made a remarkable leap to fifth place, becoming the largest law firm in the world by revenue. Meanwhile, Milbank made headlines by breaking into the top 10 for the first time, debuting at the ninth spot after climbing from last year's thirteenth.

The full list of the top 10 firms according to Vault's 2026 Rankings includes:

1. Cravath, Swaine & Moore LLP
2. Wachtell, Lipton, Rosen & Katz
3. Skadden
4. Latham & Watkins
5. Kirkland & Ellis
6. Sullivan & Cromwell LLP
7. Davis Polk & Wardwell LLP
8. Paul, Weiss, Rifkind, Wharton & Garrison LLP
9. Milbank
10. Simpson Thacher

In addition to the Vault 100, Vault Law also shared regional rankings, showcasing 14 areas where law firms operate. Notably, in New York, Wachtell Lipton has reached the top spot, while Cooley and Latham & Watkins are tied for first in Northern California.

Other significant markets like Washington, DC and Southern California retained their top firms; Covington & Burling remains the leader in Washington, while Latham & Watkins continues to excel in Southern California. It's noteworthy that Kirkland & Ellis has maintained its stronghold in Chicago.

Insights into Practice Area Rankings

The report also included Practice Area rankings, catering to various sectors of law. In the realm of General Corporate Practice, Wachtell Lipton takes top honors, particularly due to its advisory role in Capital One's substantial $35.3 billion acquisition of Discover.

In terms of White Collar Defense and Internal Investigations, Covington & Burling leads that category as well. Quinn Emanuel Urquhart & Sullivan, LLP remains dominant in General Commercial Litigation, and Williams & Connolly LLP continues its reign over Appellate Litigation.

The variability in ranks illustrates the competitive nature of the legal landscape, as pointed out by Eric Stutzke, SVP and General Manager of Vault. Not only did Kirkland & Ellis ascend in the Vault rankings, but Milbank’s entrance into the top 10 highlights the evolving dynamics.

Conclusion

Vault Law, a trusted resource for law students and legal professionals alike, continues to provide invaluable insights into the law firm landscape with these rankings. As firms adapt and restructure in response to client demands and market realities, the annual Vault rankings reflect the current trends and sentiments within the legal community. Whether a law student or a mid-career attorney, these findings are essential when considering career paths and firm prospects.

This year’s Vault rankings not only honor the industry leaders but underline the importance of evaluation in shaping the future of legal practice in the U.S. With the legal landscape continuously evolving, next year’s results are eagerly anticipated.