For the first time, women account for the majority of U.S. law firm associates, at 50.31%. Despite this encouraging step, women still represent just 27.76% of all partners and only 27% of all practice group leaders. Biglaw firms are responding to this gap with measures aimed at improving the representation of women lawyers in leadership roles.
Using Kramer Levin’s recent appointment of a female co-chair of their bankruptcy and restructuring practice as a case in point, there are women who are making strides in the field. Amy Caton, the recently named co-chair at Kramer Levin, was approached for her thoughts on the progression of women in the legal field, and particularly in areas traditionally dominated by men.
She pointed out that while the restructuring field has seen considerable progress recently. A couple of decades back, situations where the only woman in the room was the norm, have significantly changed. Now, we see an increasing number of deals where the lead partners are women. She highlighted female-led top bankruptcy practices at Jones Day, Willkie, and DLA Piper, characterized by the leadership of women like Heather Lennox and Rachel Strickland.
Commenting on her long and fulfilling career in bankruptcy and restructuring, Caton shared that the nature of her work, encompassing litigation, corporate law, and deals, provided her with an educational and rewarding experience. Her main advice to young and aspiring lawyers in this area is to immerse themselves not just in the law but also in the financial aspects of the industries they will be working in.
On the topic of women’s progression in law, Caton notably requested women to assert their presence and grow comfortable with taking the space they deserve in order to make a substantial impact in their field. By choosing not to over-apologize and exuding confidence, even when it isn’t felt, women can not only become better associates, but also extremely effective and powerful lawyers.
This insightful chat with Amy Caton underscores that, with an optimistic outlook and the right strategies, women attorneys can succeed and lead in any area of law, including traditionally male-dominated ones. It serves as a crucial message and guides towards achieving gender balance at all levels of law practice.