Pinsents top earner sees drop in takings as financials improve

Pinsent Masons’ highest paid partner received £531,645 in 2011/12, down from £558,797 in 2010/11.

The 2011/12 LLP accounts show turnover of £220.5m, up from £212.7m in 2010/11. They do not take account of the firm’s merger with Scottish firm McGrigors, which went live on 1 May 2012 (26 November 2012).

Staff costs, meanwhile, rose from £90.6m to £95.1m over the same period, as the average number of employees during the year was up from 1,444 to 1,454. However, the average number of partners dropped from 239 to 230, and at 30 April 2012 there were 225 partners at the firm. Profit at the firm, available to be divided among partners, was £61.97m in 2011/12, up from £54.3m.

In November (26 November 2012), The Lawyer reported that Pinsent Masons had posted a 4 per cent rise in turnover for the first six months of the 2012/13 financial. Revenue for the first half of the year was £146m, up from £140 at the same period in 2011/12. That figure includes McGrigors’ turnover and was arrived at by combining each firm’s separate turnover for the first six months of 2011/12.