Big Law Firms in New York: What You Should Know
New York City is one of the most important legal markets in the United States, and it is home to many of the country’s most prestigious Big Law firms. These firms handle major mergers and acquisitions, banking and finance transactions, securities matters, commercial litigation, private equity deals, restructuring, intellectual property disputes, and other high-value legal work.
For someone searching for Big Law firms in New York, it can be difficult to know where to start. There are global firms with enormous New York offices, as well as smaller elite firms that are extremely selective but have tremendous influence in particular areas of law.
Vault’s current 2027 New York regional prestige ranking places Wachtell, Lipton, Rosen & Katz first, followed by Cravath, Swaine & Moore, Davis Polk, Skadden, and Sullivan & Cromwell.
What Does “Big Law” Mean?
“Big Law” generally refers to large, highly profitable law firms that represent major corporations, financial institutions, investment funds, governments, and other sophisticated clients.
Not every Big Law firm is enormous in terms of attorney count. Wachtell, for example, is much smaller than some global firms but remains one of the most prestigious law firms in New York. Vault describes it as a particularly elite firm known for high-profile corporate matters and M&A work.
The New York legal market is also unusual because many firms headquartered elsewhere maintain very large and important New York offices.
Some of the Leading Big Law Firms in New York
1. Wachtell, Lipton, Rosen & Katz
Wachtell is one of the most recognized names in New York corporate law. Its work is particularly associated with M&A, takeover defense, shareholder litigation, and restructuring.
Vault currently ranks Wachtell #1 in New York for regional prestige.
2. Cravath, Swaine & Moore
Cravath is another historic New York powerhouse. The firm has a particularly strong reputation in corporate transactions, litigation, and financial matters.
It currently ranks #2 in Vault’s New York regional prestige ranking and remains #1 in Vault’s overall 2026–2027 U.S. prestige ranking.
3. Davis Polk & Wardwell
Davis Polk has long been an important part of New York’s corporate legal market. Its practices include areas such as M&A, capital markets, finance, investment management, and financial institutions.
Vault currently ranks Davis Polk #3 in New York.
4. Skadden
Skadden is one of the world’s best-known corporate law firms and has a major New York presence. Its work spans M&A, litigation, restructuring, finance, and other sophisticated business matters.
Vault ranks Skadden #4 in New York for 2027.
5. Sullivan & Cromwell
Sullivan & Cromwell is another longstanding New York firm with a strong reputation in corporate, finance, restructuring, and cross-border matters.
Vault places Sullivan & Cromwell #5 in its current New York regional ranking.
6. Latham & Watkins
Latham is a global law firm with thousands of attorneys worldwide and a significant New York practice. It works across corporate transactions, litigation, finance, private equity, and numerous other practice areas.
Vault ranks Latham #6 in New York.
7. Simpson Thacher & Bartlett
Simpson Thacher is another major Wall Street name, particularly recognized for private equity, M&A, banking, capital markets, and litigation. Vault currently ranks it #7 in New York.
8. Kirkland & Ellis
Kirkland is one of the largest law firms in the world and is particularly well known for private equity, corporate transactions, restructuring, litigation, and intellectual property.
Vault ranks Kirkland #8 in New York, while its overall U.S. prestige ranking remains near the top of Big Law.
9. Paul, Weiss
Paul, Weiss has deep roots in New York and is known for complex corporate matters, litigation, private equity, and representing major companies.
Vault currently places Paul, Weiss at #9 in New York.
10. Milbank
Milbank is another major New York firm with a strong reputation in corporate finance, restructuring, litigation, project finance, and international matters. Vault currently ranks it #10 in New York.
Why Is New York Such a Big Legal Market?
There is a pretty simple reason: money and business.
New York is a major center for banking, investment, private equity, public companies, real estate, securities markets, and international business.
That creates constant demand for lawyers who can handle complicated transactions and disputes.
Recent industry data also shows continued strength in major practice areas. Thomson Reuters reported that U.S. law-firm demand increased in the second quarter of 2026, with particularly strong growth in real estate, corporate, labor and employment, litigation, and intellectual property.
What Kind of Work Do Big Law Firms Handle?
The work varies from firm to firm, but common practice areas include:
- Mergers and acquisitions
- Private equity
- Corporate law
- Banking and finance
- Securities
- Commercial litigation
- Antitrust
- Restructuring and bankruptcy
- Real estate
- Intellectual property
- Tax
- Employment law
- International transactions
- Regulatory investigations
Some firms are especially famous for particular practices. That’s worth considering if you’re choosing a firm for your legal career rather than simply looking at overall prestige.
Big Law Is Not Always About Firm Size
This is something worth remembering.
A firm with thousands of lawyers isn’t automatically more prestigious than a firm with a few hundred.
Wachtell is a great example. It has a much smaller attorney population than global giants such as Kirkland or Latham, yet it consistently sits at the very top of New York prestige rankings.
So when comparing Big Law firms in New York, consider:
Practice area + reputation + clients + deal work + training + culture
rather than attorney count alone.
What About Big Law Salaries?
Compensation is another reason New York attracts lawyers.
Top Big Law firms are known for paying highly competitive salaries and bonuses, particularly to associates who meet demanding performance and billable-hour expectations.
But the money comes with tradeoffs.
Long hours, demanding clients, unpredictable schedules, and intense workloads can be part of the job. The experience can be excellent for lawyers who want sophisticated training and exposure to major matters, but it isn’t necessarily the right environment for everyone.
Frequently Asked Questions
What are the top Big Law firms in New York?
Current Vault regional rankings put Wachtell, Cravath, Davis Polk, Skadden, and Sullivan & Cromwell among the top five for New York prestige.
Is Big Law the same as the biggest law firm?
Not necessarily. Big Law generally refers to large, prestigious, highly profitable firms serving sophisticated clients. Some elite Big Law firms are relatively small compared with global firms.
Which New York Big Law firms are known for M&A?
Wachtell, Cravath, Skadden, Sullivan & Cromwell, Davis Polk, and several other major firms have strong M&A practices. The right choice depends on the specific type of transaction and client.
Are Big Law firms good for new lawyers?
They can provide excellent training, sophisticated work, strong compensation, and valuable experience. However, the hours and workload can be demanding, so prospective lawyers should consider both career opportunities and lifestyle.
Final Thoughts
New York remains one of the most competitive legal markets in the country. From historic Wall Street firms such as Cravath and Sullivan & Cromwell to global giants such as Latham and Kirkland, there are many paths within Big Law in New York.
The best firm isn’t necessarily the one with the biggest name.
If you’re researching firms for a career, look closely at the practice area, type of work, training, compensation, culture, and long-term opportunities. Those details can matter much more to your actual experience than a ranking alone.
