The IFLR1000, a leading legal directory, hosted a Q&A webinar shedding light on key changes to their ranking methodology and offering valuable tips for law firms aiming to improve their submissions. This article summarizes the key takeaways from the webinar to guide legal professionals in optimizing their IFLR1000 rankings.
How are the rankings determined?
The IFLR1000 rankings are determined based on a comprehensive evaluation process that involves the following four key components:
1. Deal Highlight:
This aspect focuses on the significant legal transactions and projects undertaken by law firms. It assesses the complexity, innovation, and impact of these deals, allowing firms to showcase their expertise in various practice areas.
2. Client Survey:
Client feedback plays a crucial role in the IFLR1000 rankings. The client survey component involves obtaining input from clients who have worked with the law firm during the research period. The survey seeks to gauge client satisfaction, the effectiveness of legal services, and the overall client-firm relationship.
3. Partner Interviews:
Partner interviews provide an opportunity for IFLR1000 researchers to engage directly with key partners at law firms. These interviews delve into the firm’s capabilities, expertise, and notable achievements. Partners may provide insights into the strategic direction of the firm and elaborate on their roles in significant deals.
4. Lawyer Survey:
The lawyer survey is a critical component and will be relied on more heavily this year, especially in light of the change from evaluating 20 matters to 10. It allows lawyers, especially junior lawyers nominated in the Rising Stars categories, to highlight their individual contributions. This survey provides a more nuanced view of the firm’s talent pool and acknowledges the diverse contributions of legal professionals.
Why the Shift from 20 Matters to 10?
- The shift from evaluating 20 matters to 10 is a strategic move aimed at enhancing the competitive aspect of rankings. The change encourages law firms to focus on the most impactful and impressive projects, providing detailed insights into innovative, impactful, and challenging cases.
What are the main guidelines when crafting the work highlights:
- Context is Key: avoid leaving sections blank, as it makes it harder for researchers to judge.
- Ensure that you are looking at practice areas relevant to your jurisdiction and reviewing the definitions before selecting matters.
- Provide articulate and digestible information that can be easily benchmarked against other firms.
- Focus on the most impactful work and explain why a case was innovative, impactful, or challenging.
- Deal Values: Include deal values when possible.
- DEI & ESG: Fill in information related to Diversity, Equity, and Inclusion, as well as Environmental, Social, and Governance initiatives. It can demonstrate the firms level of sophistication.
How many referees can I include?
- Include as many client referees as possible, picking those willing to participate.
- Inform clients beforehand to increase engagement
- Nominate referees capable of providing comparative, tailored feedback about lawyers and the firm. This feedback is more valuable to your ranking than a generic one.
Please note: IFLR1000 is also considering introducing client discovery calls to enhance the quality of feedback so your refers may be approached to set up a call.
How can I boost my individual ranking?
- Add significant work in the work highlights
- Use the lawyer nomination section of the submission to make your case in a short concise matter that is relevant for the research period, highlight evidence, wins, and recognitions, and DON’T repeat your website biography information.
- Provide valuable, available referees.
- The lawyer survey – given the change from 20 matters to 10, the lawyer survey provides an opportunity for all lawyers, especially rising star partners, and rising star associates to showcase their contributions.
If I was interviewed last year, will I be interviewed this year as well?
IFLR1000 tries to rotate the firms getting interviewed to get an objective view of the market so you may not be approached year after year. However, firms can reach out to IFLR1000 if they wish to participate in partner interviews.
Staying informed about the IFLR1000’s ranking criteria and incorporating the recommended tips into your submissions will not only enhance your firm’s visibility but also contribute to a more accurate and comprehensive assessment of your legal expertise.