Revenue declined at Winston & Strawn in 2009 while profits remained flat. Gross revenue decreased by 5%, roughly $40 million. Profits per partner remained steady at $1.283 million and the number of equity partners (184) at the firm did not decrease either. Revenue per lawyer decreased 2.6% to $835,824. To absorb decreasing revenues the firm trimmed its bonus pool and both associates and non-equity partners took compensation hits in 2009. The average compensation for non-equity partners at Winston & Strawn declined by 14.5%. There was also a drop in non-equity partners from 210 to 197 last year. Overall headcount decreased by 3% to 843 lawyers.
Founded in 1853, Winston & Strawn is a Chicago based firm with offices worldwide including Beijing, Charlotte, Geneva, Hong Kong, London, Los Angeles, Moscow, Newark, New York, Paris, San Francisco and Washington, D.C.
Posted by sara
on March 2, 2010. Filed under Home,Law Firm News,Legal News.
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