What is a silver circle firm?
Asked by: Etha Wuckert | Last update: February 9, 2026Score: 4.9/5 (23 votes)
A Silver Circle firm is an elite group of top-tier London-based law firms, just below the Magic Circle, known for high profits, strong UK focus, and excellent training, often with a broader range of specialisms than Magic Circle firms and a more entrepreneurial culture. While membership varies, it typically includes firms like Ashurst, Herbert Smith Freehills, Macfarlanes, Travers Smith, and Bryan Cave Leighton Paisner (BCPL), offering a prestigious career path with competitive pay and significant responsibility for associates.
What are Silver Circle firms?
In essence, the silver circle refers to the band of firms that fall just below the magic circle when it comes to turnover, but post considerably higher profit per equity partner (PEP) and revenue per lawyer (RPL) averages than the rest of the nation's legal market.
Are Silver Circle firms as prestigious as Magic Circle?
'Silver Circle' law firms are a group of five law firms based primarily in the City of London. They fall slightly short of the Magic Circle firms in terms of revenue, but they still attract premium-quality work and significantly higher financial metrics than other firms in the UK.
What is the most feared law firm in the US?
Quinn Emanuel has once again secured its position as the foremost "most feared" law firm in BTI Consulting Group's 2025 "Most Feared Law Firms in Litigation" guide. This latest accolade signifies the firm's third consecutive year at the top and its fifth overall.
Are Silver Circle firms more profitable?
Silver Circle firms, by contrast, operate with leaner structures and are often more profitable on a per-partner basis. Their partnership track can be shorter, particularly for laterals who can demonstrate business development capability or bring portable clients.
LAWYER EXPLAINS: How Corporate Lawyers Make Millions
What percentage of lawyers make $500,000?
A small percentage of lawyers earn over $500k; while the median salary for lawyers is around $150k-$170k, the top 10% earn over $239k, but reaching $500k+ usually requires being a top partner in a "Big Law" firm, specializing in high-value areas like corporate or IP law, or having a very successful practice, notes the BLS and Legal Brand Marketing.
What is the #1 law firm in the world?
There isn't one single "number 1" law firm, as rankings vary by criteria (revenue, size, prestige, specific practice), but Kirkland & Ellis consistently ranks as the #1 highest-grossing firm globally by revenue, exceeding $8.8 billion in 2024, followed by firms like Latham & Watkins and DLA Piper. For prestige or "feared" status, firms like Quinn Emanuel might top lists, while others excel in specific areas like M&A or IP, so "best" depends on the context.
Who is the richest law firm?
The richest law firm by revenue is consistently Kirkland & Ellis, leading global rankings with billions in gross revenue (around $8.8 billion in 2024) and a large number of lawyers, specializing in private equity, M&A, and litigation, followed closely by firms like Latham & Watkins and DLA Piper, though profitability per lawyer can vary, with firms like Cravath, Swaine & Moore LLP often topping profitability lists despite smaller size.
Who are the 7 sisters law firms?
In the Canadian legal market, the 'Seven Sisters', leading Bay Street Toronto, Ontario corporate firms, continue to dominate the marketplace. They are Blake, Cassels & Graydon LLP, Davies Ward Phillips & Vineberg LLP, Goodmans LLP, McCarthy Tétrault, Osler, Hoskin & Harcourt LLP, Stikeman Elliott LLP and Torys.
Who are the Golden 5 law firms?
There isn't a widely recognized "Golden 5" group of law firms; however, you're likely thinking of London's elite "Magic Circle" firms: A&O Shearman, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, and Slaughter and May, known for high profitability and corporate work, or perhaps the US-based "Vault 100" or "Big Law" firms like Kirkland & Ellis and Latham & Watkins, but these groups have different names and compositions.
What law firm does the royal family use?
The primary law firm for the British Royal Family for generations, especially for the late Queen Elizabeth II, has been Farrer & Co, a prestigious London firm known for private client, family law, and trusts, though other firms handle specific litigation needs, with Prince Harry and Meghan Markle reportedly using Harbottle and Lewis at times.
Does Pearson Specter only hire from Harvard?
Exclusivity. Pearson Hardman had a policy of hiring only associates that graduated from HLS. After the firm became known as Pearson Specter, the rule was waived for Rachel Zane, and eventually abolished when Harvey Specter became managing partner of Pearson Specter Litt.
Who are the Magic 5 lawyers?
The "Magic Circle" refers to five prestigious, London-headquartered law firms known for corporate law and high revenue: A&O Shearman, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters, and Slaughter and May. Coined by journalists in the 1990s, the term identifies these elite firms for their global reach, high-profile work, and significant financial success in the legal sector.
What is the highest title in a law firm?
The highest title in a law firm is usually the Managing Partner, who acts like a CEO, leading firm strategy and operations, often alongside other senior or equity partners who share ownership and management. Other top roles can include Senior Partner, Chairman, or Managing Director, depending on the firm's structure, with partners generally forming the pinnacle of the hierarchy as owners and business directors.
Can anyone cast a Magic Circle?
Casting a circle is a common ritual technique used by Wiccans and witches. The interior of the circle is seen as a safe, energetically protected space. Sacred magical work, rituals, and spells are often performed within the circle. Anyone who wants to can cast a circle, just follow these simple guidelines.
What is the most prestigious law school in London?
The University College London Faculty of Law has a global reputation for excellence in the subject of law. In the most recent Research Excellence Framework, UCL Law was rated the top law school in the UK for research excellence.
What are the most feared law firms?
The most "feared" law firm, according to BTI Consulting Group's recent reports (2025/2026), is consistently Quinn Emanuel Urquhart & Sullivan, known for its intense, trial-focused approach and strategic unpredictability that makes opponents wary. Other firms frequently cited as "fearsome" in litigation by corporate counsel include Kirkland & Ellis, Skadden, and Gibson Dunn, with firms like AZA Law, Pillsbury, and Foley Hoag also recognized for their powerful litigation tactics.
Are white shoe firms only in NYC?
The term is most often used to describe leading old-line Wall Street law firms and financial institutions, as well as accounting firms that are over a century old, typically in New York City and Boston.
Are white shoe firms still prestigious?
Key Takeaways. White shoe firms are prestigious, traditional companies in fields like law and banking. The term "white shoe" comes from a type of shoe popular with Ivy League students in the 1950s. Historically, these firms were associated with exclusivity and an East Coast WASP elite.
Do lawyers make $500,000 a year?
Yes, many lawyers earn $500,000 or more annually, especially Big Law partners, senior corporate counsel, specialized litigators, and successful solo practitioners in high-value fields like IP or medical malpractice, though this is not the norm for all attorneys, with median salaries being much lower. Reaching this income level requires specialization, strategic business growth, marketing, and often working in major markets, with top-tier law firms (Big Law) offering high starting salaries and significant bonuses that can push senior associates past the $500K mark.
Who is the wealthiest lawyer in the US?
There isn't one single definitive richest lawyer, as wealth fluctuates and definitions vary (practicing vs. retired, law-focused vs. business ventures), but prominent figures often cited include Charlie Munger (deceased, built wealth via investments with Berkshire Hathaway after law), John Morgan (billionaire founder of Morgan & Morgan personal injury firm), and Peter Angelos (deceased asbestos litigation pioneer).
What is the #1 law firm in America?
There isn't one single "number 1" law firm, as rankings vary by criteria (revenue, number of lawyers, prestige); however, Kirkland & Ellis consistently ranks #1 for revenue, while Baker McKenzie often leads in lawyer headcount, and firms like Latham & Watkins, DLA Piper, and Covington & Burling also appear at the top of different lists for size, revenue, and reputation.
Which lawyer makes the most money?
The highest-paid lawyers are often Patent Attorneys (due to high demand and specialized science/engineering background), Big Law Corporate Partners (earning millions in top firms like Kirkland & Ellis), and successful Personal Injury/Medical Malpractice lawyers (earning contingency fees on massive settlements). While specific individuals like Richard Scruggs have amassed huge fortunes, the top earners generally come from these lucrative specializations, with some partners clearing over $20-25 million annually.
Which is the oldest law firm in the world?
THE FIRM With roots going back to 1570, Thomson Snell & Passmore have been honoured by the Guinness World Records as the oldest law firm in operation.
What is the difference between a lawyer and attorney?
A lawyer is someone with a law degree, while an attorney is a lawyer who has passed the bar exam and is licensed to practice law and represent clients in court; therefore, all attorneys are lawyers, but not all lawyers are attorneys, a distinction that matters for courtroom advocacy. While "lawyer" refers to legal education, "attorney" signifies the official authorization (the license) to act as a legal representative in court, handle specific legal matters, and provide court-related services.