Revenues Up and Profits Down at Bryan Cave

St. Louis based firm Bryan Cave reported an increase in revenue from $502,509,000 in 2008 to $554,817,000 in 2009 (10.41%). The increase is partly explained by the firm’s growth from 861 lawyers in 2008 to about 996 in 2009. The growth pushed revenue per lawyer down 4.49%, from $583,363 in 2008 to $557,257 in 2009. Profits per partner dropped 5.51%, to $622,579.

Bryan Cave cut costs in various ways throughout 2009. This included a lay off of 134 employees last February (including 58 attorneys or 5% of its lawyers) and 76 staffers. The firm also offered some incoming associates up to $70,000 to walk away from first year positions that had been offered. In June of last year all associate salaries were cut by 10%.

Bryan Cave is an international general practice law firm with 25 offices worldwide. The firm was founded in 1873 and has approximately 1200 attorneys.