​The 2025 rankings of Australia’s leading law firms reveal a market in transition—balancing steady growth at the national level with signs of pressure on international firms operating locally. Partner headcounts, new appointments, and year-on-year changes provide a snapshot of where firms are consolidating and where cracks may be forming.

Stability at the Top

The top two firms—HWL Ebsworth Lawyers (279 partners) and MinterEllison (248 partners)—retained their positions from 2024, reflecting the ongoing strength of Australia’s largest national practices. HWL’s partner numbers remained steady year-on-year, while MinterEllison recorded modest net growth of 1.6%. Together, they demonstrate the resilience of the national model, particularly in balancing large-scale litigation, government, and infrastructure mandates.

International Firms Under Pressure

Among the international firms, King & Wood Mallesons rose to third place (199 partners), overtaking Ashurst, which slipped to fourth following a 6.8% net decline in partner numbers. Despite this, both firms remain key players in high-end transactional and disputes work. Herbert Smith Freehills and Allens held their ground at sixth and eighth respectively, each showing incremental growth.

This relative stagnation compared with the more aggressive national firms suggests international practices may be grappling with structural headwinds—balancing global profitability targets with the demands of the Australian market.

The Rise of Domestic Independents

The data also underscores the momentum of domestic independent firms. Mills Oakley (173 partners), Thomson Geer (156 partners), and Hall & Wilcox (153 partners) all maintained their positions, recording some of the strongest year-on-year partner growth. Each firm posted gains between 4% and 6%, reflecting strategic lateral hiring and expansion into key markets such as technology, health, and energy.

Their consistency points to a reshaping of the competitive landscape: where once the "Big Six" international firms dominated, today’s fastest growth often comes from ambitious domestic, and increasingly profitable, firms consolidating their reach.

What This Means for the Market

The 2025 rankings confirm three core trends:

1. National dominance continues – The largest Australian-headquartered firms are holding their positions and expanding cautiously, focusing on sustainable growth.

2. International firms face challenges – While still central to premium work, global firms are losing ground in partner headcount and rankings.

3. Domestic law firm growth is accelerating – Nationals outside the traditional top tier are capturing market share, both in terms of talent and client work through value, sector specialisation and high levels of profit to entice laterals.

Looking Ahead

The year ahead will likely see further lateral partner movement as firms jockey for market position. Nationals appear best placed to capture growth, while international firms may need to sharpen their strategies to stay competitive. For candidates, the data highlights a dynamic market with opportunities not only at the very top but also across independent firms and highly specialised boutiques.

If you are interested in a confidential chat about what this may mean for your firm or your career, get in touch with our consultants for a comprehensive and confidential conversation.