Quick Facts about the Legal Landscape in Dallas
North Texas has a booming demand for big law services making Dallas a prime candidate for large legal firms looking to open shop in the area. Many big law firms are drawn into the Dallas legal market due to its powerful real estate economy and diversified industrial base. These large firms are typically destination hubs for large clients, enabling business growth and secure investments in different aspects of the Dallas/Ft. Worth economy.
Texas’ large business markets have a strong commonality with the most compelling sectors of the professional legal services . Business jobs continue to grow throughout the state, attracting investment from legal firms seeking more geographical diversity in their client base.
What drives so many of these significant businesses into the Texas market? The primary driver is the healthy, albeit slightly softening, economy. Another is relatively high economic growth and high employment figures. Finally, a lower than normal unemployment rate has enticed the area’s most talented private sector workers. Dallas Vipins is home to the largest employment base in the state, employing over 3 million in Texas.
Prominent Big Law Firms in Dallas
King & Spalding
Founded in Atlanta in 1885, King & Spalding has expanded to include a Dallas office following its 2017 merger with Dallas-based operator, Balch & Bingham. The firm specializes in diverse practice areas, including antitrust, corporate, finance, employment, intellectual property, life sciences, litigation and a wide range of regulatory areas. Due to its largeness, King & Spalding has been listed as one of the top firms in the country by the National Law Journal.
Kirkland & Ellis
Founded in 1900 in Chicago, Kirkland & Ellis has grown over the years to become a global legal service provider and leader in representing VC funds and PE sponsors in M&A transactions. The company currently counts over 230 lawyers in the Dallas office alone. Their expertise lies in complex business transactions, investments, intellectual property, trial, real estate, technology, tax and healthcare.
Latham & Watkins
Latham & Watkins provides comprehensive services in a wide variety of sectors from 14 key offices across the US, Europe, Asia and Middle East. It has recently expanded to Dallas, Texas since 2008 and has been providing clients in complex corporate transactions, securities and capital markets, banking and finance, financial restructuring, tax and real property and is well-known for its litigation and intellectual property practices. It serves both public and private corporations, partnerships, and state and local governments. With over 2,500 lawyers and 14 offices in the United States, Europe and Asia, Latham & Watkins was described by the American Lawyer magazine as "a powerhouse" and "M&A Hot Shop".
Practice Themes of Big Law Firms in Dallas
For the most part, Top Dallas corporate law firms focus on several key practice areas and from my research over the years and in this article, as well as my own experiences with these law firms as well as interviews with Dallas attorneys, I can see several distinct patterns emerge in terms of the major practice areas these big law firms focus on, such as corporate law, litigation, real estate law and technology law, to name a few.
Corporate Law is always huge for Dallas, TX big law firms because many companies have their headquarters here. This means that most Dallas big law firms in the above list have active corporate law departments and do a lot of corporate transactions work (mergers and acquisitions, securities offerings, financing, etc.) as well as general business transactional work (writing opinions letters, etc.). Corporate lawyers at big law firms in Dallas often end up working internationally in order to meet their clients’ expanding global ambitions. Intellectual Property Law is also very strong and essential with regard to many Dallas big law firms. Whether they work in high tech or biotech, or they handle litigation or patents, technology is huge for Dallas, TX top big law firms. If for some reason they don’t have a strong technology practice in-house, they will have a very strong intellectual property practice. This is a necessity to run in the Dallas market. Real Estate and Construction Law are also strong areas for big law firms in Dallas because of the strength of the Texas real estate market. Whether your needs are transactional, litigation or both, major real estate entities such as those in the National Football League always need strong representation to help them with their legal issues. Commercial Litigation is huge in Dallas as it is one of the primary practice areas for most law firms; most big law firms have huge litigation departments and litigation is always on the increase for the majority of big firms. Also, there are many subject matter experts in healthcare and technology, meaning that Dallas firms can put litigation attorneys on just about any kind of case. Labor and Employment Law covers a broad range of legal matters including workplace discrimination or harassment, Fair Labor Standards Act compliance, wage-hour law and related state law compliance, union and National Labor Relations Act issues, and even non-compete agreements and trade secrets. But, the talent in Dallas is strong with regard to employment law and the demand for strong employment practices in Dallas is on the rise, as always.
Employment at Dallas Big Law Firms
For law school graduates, a career with a large law firm presents an opportunity few can afford to pass up. With the type of work and training offered within big law firms, aspiring law students should view the possibility of working with a large firm as an opportunity to gain experience other firms are unable to offer. Today’s law school programs leave graduates with a significant amount of student loan debt. In order to pay down this debt, being accepted to a large law firm offers an immediate and relatively high salary which most firms can’t match.
Recruitment Process
Participating in OCI is the first step for law students interested in working for a large law firm. Large law firms have a strong presence at Area Law School career fairs offering students a chance to interview for open positions. Though OCI is not the only way to obtain a summer associate position, it does represent a good opportunity for second year law students who did not participate in the fall recruiting process. Networking is another good way for law students to find summer associate positions. Contacting attorneys that are found to be family, friend or even alumni of your law school is a good way to examine the prospects of working with the firm. While salary should not be the only motivating factor in your decision to work with a large law firm, if compensation is one of your primary concerns you should take the time to review the starting salaries for summer associates along with the odds of receiving an offer.
Career Path
In the past, large law firms offered a "fixed" path for junior associates. Junior associates chose the practice areas they wished to work in, and with the help of their supervising partner and mentor, followed a longer term career path. In recent years, large firms have moved away from this model. Associates are now expected to "staff" their own matters. This means they must develop business relationships with clients and potential clients. Attorneys are now partially evaluated on whether they can bring in new business to the firm. Often, junior associates are expected to maintain some business they have never met with anyone from the firm to develop billing relationships once the work comes through the door.
Because a large law firm’s reputation is forever at stake, they have a vested interest in limiting as much risk in the relationships they maintain with their clients. As such, large firms have also become risk-averse and this translates into a major deterrent for hiring attorneys from other firms and to a lesser extent, hiring law school graduates. Many of the large firms that have merged with other firms in recent years place greater emphasis on hiring lateral transfers, rather than relying on traditional summer program recruitment for attorney hires.
Professional Growth
While maintaining a job with a large law firm may be appealing it is important to note some of the negative aspects of the position before you set your sights on landing an offer. Junior associates will often spend 60% or more of their time as "staff" as opposed to "client billable" attorneys. It is not uncommon for associates to begin their careers doing research as opposed to working directly with a client on legal issues. As one attorney explained, when doing legal research "the only person who reads and thinks about it is you." The more immediate challenges facing associates are twofold; First, which practice area do you wish to concentrate? The answer isn’t always simple, and choosing a practice area that is desirable over one that pays well may be viewed as a poor choice by some. Second, how do you bring in business? Especially as a junior associate?
Contributions of Big Law Firms to Dallas’ Economy
Big law firms in Dallas have a substantial impact on the local economy. They provide the type of jobs you can’t get from a restaurant chain. They also provide opportunities for local businesses to get their goods and services in front of their employees. The big law firms provide more than just client legal services. They make significant charitable contributions throughout the year, donate art to local institutions like museums, and are members of community organizations and associations .
Diversity is a priority for several big law firms, which leads to a more diverse workforce. Diverse employees may be more inclined to spend money in different communities than the traditional centers of economic activity. For example, they may shop in the gay or LGBT community instead of more traditional places.
The local impact of significant firms like Baker Botts and Vinson & Elkins helps promote and build the overall economy in Dallas.
Obstacles for Big Law Firms in Dallas
The legal industry, like every other sector, is constantly facing shifts in terms of scope and size. Big law firms in Dallas have to navigate a new playing field where many things are uncertain. One of the biggest challenges that these law firms face is competition. Not only do they have to compete with other big firms, they also find themselves at odds against smaller firms and even non-legal peers. With the number of firms in the DFW area expected to continue to rise, big law firms in Dallas will have to find ways to stay competitive so that they can stand out amongst a pool of thousands of other firms.
Another challenge big law firms in Dallas have to deal with is changes in regulation. As the rules governing legal practice evolve, so too must law firms adjust their practices, or risk falling behind the curve. Positive changes for law firms such as the rise of more relaxed rules surrounding indirect lawyer-to-lawyer contact are good for business, but also require firms to alter their policies and procedures to conform to new rules.
An important change in the industry is technological advancements. New tools for case management, billing and storage are just a few integral pieces of technology in the modern law firm. Often, big law firms have difficulty when it comes to rapid software changes. Many times it can take months or years to fully implement new systems and staff members often have to be fully retrained on new software. With fees declining it can be hard to stay profitable when you have to spend money training employees on new software, or paying for yearly licensing fees.
Dealing with the changes to the legal industry can be difficult at times. Making these adjustments can be even harder for big law firms in Dallas who have hundreds to thousands of employees. While coping with the changes within the industry has its difficulties, at the end of the day it can be worth it. A law firm that can adapt to the shifting landscape will find that it can reap the benefits of early adoption.
Growth Forecast for Big Law Firms in Dallas
The future trends for Big Law Firms in Dallas encompass a powerful combination of technological innovation, changing client expectations, and shifting socio-economic landscapes. As the Dallas region continues to evolve into a hub for diverse industries, the legal sector is not immune to these transformative forces.
Innovation is at the heart of many anticipated changes in legal practice. From artificial intelligence that aids in legal research and contract analysis to advanced data analytics that can predict case outcomes, technology is rapidly becoming an essential partner for legal professionals. In particular, AI is poised to handle routine decision-making processes and streamline operations, allowing lawyers to dedicate more time to strategy and high-direction work. It is expected that Big Law firms will continue to embrace AI technologies to enhance their service offerings and improve efficiencies.
Client demands are also evolving, with an emphasis on more holistic legal and business solutions. A multi-disciplinary approach that integrates legal expertise with consulting services has become increasingly attractive to larger firms. Clients are seeking one-stop solutions that address diverse concerns such as regulatory compliance, transactional support, and litigation strategy. As a result, we can anticipate that Dallas-based firms will continue to expand their service portfolio to meet the sophisticated needs of their clients. This shift is likely to be facilitated by hiring talents from various professional backgrounds — including business analysts, financial advisors, and IT specialists — who can offer a wealth of expertise that goes beyond traditional legal services.
The competitive landscape is another area expected to see significant change. The emergence of affordable , high-quality legal services has created a new breed of competition for Big Law. This pressures existing firms to find new ways to innovate and differentiate themselves. Dallas is no exception to this trend: the city has already witnessed the rise of low-cost law firms and legal services startups in recent years.
The socio-economic and demographic characteristics of Dallas are also driving changes in the legal industry. As a result of the city’s booming economy, a diverse range of industries and businesses have taken root in the region. Big Law firms must be prepared to address the legal needs of these emerging industries and help them navigate regulatory and compliance issues while they grow.
Legal presented challenges that impact how Big Law firms in Dallas operate. In addition to technological changes, a rise in remote work has been observed, where lawyers are increasingly expected to remain connected to clients and colleagues at all hours. This flexible approach to working is appealing to a younger generation, who aspires to achieve a work-life balance in a manner that differs from traditional law firm culture.
The trial is also a big change in the typology of Big Law firms. While some firms focus primarily on litigation, others provide comprehensive legal services that go beyond courtroom appearances. Big Law firms in Dallas can be expected to follow this trend and provide a wider variety of legal services.
Overall, the future trends for Big Law firms in Dallas will likely continue to be shaped by the forces of technological change, client demands, competition, and socio-economic realities. The ability to adapt to these challenges while delivering high-value services and contributing to the economic growth of the region will be key to their long-term success.