In another sign that the legal economy is once again growing, Bingham McCutchen is reporting record breaking numbers for 2010. Gross revenue went up 2% to $873 million and profits per equity partner jumped 12%, up to $1.62 million. Unlike many firms whose increased profits are due in part to decereased headcount, Bingham’s numbers are attributable to an aggressive expansion plan that included the acquisition of a 120 lawyer tax firm in Washington DC and the opening of the firms second European office in Frankfurt.
The study presents a clear picture of how partner pay scales with firm size. Midsize firms, typically ranging from 50 to 200 attorneys, report median compensation for equity partners at approximately $633,000 annually. Non-equity partners in these firms earn around […]