| Turnover | £150.6m | | Profit per equity partner | £234,000 | | Equity spread | £130,000-£370,000 | | Net profit | £28.3m | | Profit margin | 19 per cent | | Revenue per lawyer | £201,000 | | Revenue per partner | £610,000 | | Revenue per equity partner | £1,245,000 | | Total no of fee-earners | 892 | | Total no of assistants | 501 | | No of partners | 247 | | No of equity partners | 121 | | Total no of female partners | 61 | | Total no of female equity partners | 13 | | Total no of staff | 1,518 | | Leverage ratio (equity partners/fee-earners) | 4.1 | | Representative clients | Bovis Lend Lease
Department for Environment, Food and Rural Affairs
Fujitsu
National Grid
Royal Bank of Scotland
Vodaphone | |
This may have been a momentous year for the
freshly minted Pinsent Masons, but it will be one
that most of the partners will want to forget.
First, that average PEP figure. If the marriage of
the the national players, which was effective from
December 2004, is to work, then Pinsents will have
to do a lot better than £234,000. That figure looks
even worse when you consider that the equity is
held relatively tightly. When the average compensation
for all partners is calculated, mean earnings
drop to £171,000 ± only £20,000 above
Hammonds.
The figure is partially a reflection of the significant
merger integration costs that were felt last
year, but partners will be expecting at the least a
£300,000-plus return next year. For that to happen
Pinsents will need to see the cross-selling opportunities
that drove the deal in the first place, such
as that between legacy Masons' IT and construction
client roster and Pinsents' corporate group,
converted into reality.
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