FOR IMMEDIATE RELEASE
December 19, 2013
Diversity and Profitability Are Not Mutually Exclusive
WASHINGTON, D.C. – The Minority Corporate Counsel Association (MCCA) released its inaugural ‘Do Good, Do Well’ list to showcase firms that have achieved high levels of diversity and profitability. The purpose of the report is to show diversity and profitability are not mutually exclusive concepts. This list will become part of MCCA’s portfolio of annual surveys, which includes the Survey of Fortune 500 Minority and Women General Counsel and Vault/MCCA’s Diversity Demographics Survey.
The data was generated from the 2013 AmLaw 200 “Profits Per Partner” (PPP) and the percentage of racial/ethnic minorities in partnership as reported in the American Lawyer’s “2013 Diversity Scorecard.”
MCCA identified the 200 firms with the highest PPP statistics per AmLaw, then divided these firms into three tiers of diversity performance:
- Tier 1: Firms with 20 percent or more racial/ethnic minority partners in the partnership
- Tier 2: Firms with 15-19.99 percent racial/ethnic minority partners in the partnership
- Tier 3: Firms with 10-14.99 percent racial/ethnic minority partners in partnership
Only three firms were rated Tier 1: Lewis Brisbois Bisgaard & Smith LLP; White & Case LLP; and Wilson Sonsini Goodrich & Rosati. Four firms were ranked in Tier 2. The majority of firms—28—were ranked in Tier 3.
The average number of minority partners in large law firms is approximately seven percent.
“The list seeks to incentivize firms to think differently and to appreciate something that most of their clients have already grasped: Diversity works,” says Joseph West, MCCA’s president and CEO.
To review the entire list, click here.
The Minority Corporate Counsel Association was founded in 1997 to advance the hiring, retention and promotion of diverse attorneys in legal departments and the law firms that serve them. MCCA accomplishes its mission through publishing, research and training, pipeline initiatives and networking. MCCA’s work has been recognized with awards from the National Minority Business Council, Inc., the U.S. Equal Employment Opportunity Commission, the National LGBT Bar, and the Association of Corporate Counsel. MCCA is headquartered in Washington, D.C.