Turnover: £213m Profit per equity partner: £500K Earnings per partner: £280K Equity spread: £250K-£650K Net profit: £54m Profit margin: 25 per cent Revenue per fee-earner: £195K Revenue per lawyer: £233K Revenue per partner: £801K Revenue per equity partner: £1.97m Total number of fee-earners: 1,094 Total number of qualified partners: 915 Total number of partners: 266 Total number of equity partners: 108 Total number of female partners: 60 Total number of female equity partners: 11 Total number of staff: 1,760 Leverage ratio (equity partners/fee-earners): 1:7.5
Intake as percentage of partnership: 9.2 New female partners as percentage of intake: 43.5 Firms recruited from:Brodies, Dundas & Wilson, Eversheds, Freshfields Bruckhaus Deringer, Halliwells, Hammonds, McGrigors, Olswang Equity structure: 105 equity partners, 145 non-equity Practice area(s) most heavily promoted: Corporate, property, UK construction/engineering *Figures supplied relate to the calendar year
Pinsent Masons has made serious investment in internal promotions, with 47 in three years. Furthermore, the firm’s regional associates have a good chance of making the partnership. In three years Birmingham has had 10 out of the 47 (although none in 2006) and Leeds has done particularly well with a total of 15. London has reaped 16 new partners. Leeds did particularly well in the most recent round, with six out of a total of 12, with London gaining four.
Lateral hiring has also propelled partnership growth. In the two years after the Pinsents-Masons merger, the firm recruited seven new lawyers, but in 2006-07 it went on a hiring spree with an additional 11 partners brought in. Of those, four went to Edinburgh, Leeds and London each got two, with corporate and banking/finance the favoured sectors.
Half of the lateral hires in 2006-07 have been women, while the internal promotions round saw four women get the nod.