Vault Releases 2014 Best Law Firms to Work For
(From Vault Law Editors, July 16, 2013): Vault recognizes that prestige is just one factor among many for law students and associates searching for the right law firm. For some candidates, quality of life weighs far more heavily in their considerations than a firm’s reputation in the community. That’s why each year Vault compiles its “Quality of Life” rankings, in addition to its rankings of the most prestigious law firms.
As part of this year’s Law Firm Associate Survey, nearly 17,000 associates rated their own firms on a 1 to 10 scale in more than a dozen different categories, including satisfaction, culture, compensation, hours, formal training, informal training and mentoring, associate/partner relations, transparency, business outlook, pro bono, diversity and selectivity in hiring. This year, Vault added two new categories: substantive work and career outlook.
In addition to individual rankings for each of these categories, Vault also use a weighted formula to determine the overall Best Law Firms to Work For based on associate ratings in the following areas: Satisfaction (25%); Hours (10%); Compensation (10%); Business Outlook (10%); Substantive Work (10%); Associate/Partner Relations (5%); Transparency (5%); Formal Training (5%); Informal Training, Mentoring & Sponsorship (5%); Pro Bono (5%); Overall Diversity (5%); Career Outlook (5%). The Vault Quality of Life Rankings for 2014 also includes several categories related to Diversity.