US firm prestige rankings hint at fallout from Trump's Big Law offensive

Paul Weiss has fallen out of the top 10 of Vault's closely watched prestige rankings for the first time in eight years, dropping to No. 13 in the latest list.

The move marks a notable shift in one of the US legal market’s most closely followed league tables, which are based on peer assessments from lawyers across rival firms.

Paul Weiss was the first to reach a settlement with the Trump administration last year after being targeted by an executive order over the firm’s links to the president’s political opponents - a move that drew significant attention across the market.

Political backdrop

The latest rankings suggest the episode may have had an impact. In contrast, the firms that challenged Trump’s executive orders in court have all moved up the table - Jenner & Block, WilmerHale, Perkins Coie and Susman Godfrey.

Vault’s rankings, alongside the Am Law 100, are among the most widely cited measures of law firm prestige in the US. This year’s list is based on a survey of more than 20,000 lawyers conducted between October 2025 and January 2026.

At the top, little has changed, for now at least. Elite New Yorker Cravath retains the No. 1 spot, followed by Wachtell at No. 2, a pairing that has held for more than a decade. Skadden sits at No. 3, with Latham & Watkins and Sullivan & Cromwell rounding out the top five.

But even that hierarchy is starting to show signs of strain. Wachtell, long known for being virtually immune to lateral poaching, has seen a number of high-profile partner departures over the past year, including star rainmaker Zack Podolsky and several others to Latham.

Cravath has also experienced a series of partner exits this year. Just this week, the firm’s VC co-head Scott Bennett left for Sidley Austin. He is understood to be at least the ninth partner to leave Cravath this year.

UK firms edge up

Further down the table, UK-headquartered firms saw modest gains. A&O Shearman climbed six places to No. 56, Freshfields moved up to No. 50, Linklaters ranked at No. 52, and Clifford Chance placed at No. 41 - the highest-ranked UK firm in the US prestige stakes.