|
|
UK/global turnover: |
£16.8m/£217.1m |
UK/global PEP: |
£556,000/£556,000 |
UK/global revenue per lawyer: |
£420,000/£417,000 |
UK revenue per partner/equity partner: |
£1.7m/£1.7m |
Global revenue per equity partner: |
£1.4m |
UK/global number of equity partners: |
10/160 |
UK/global number of partners: |
10/160 |
| UK/global number of lawyers: |
40/520 |
| UK number of staff: |
84 |
| UK/global leverage ratio: |
3/2.3 |
COVINGTON & BURLING is an all-equity
partnership. Remuneration is entirely merit-based,
with a wide range of factors (unusually also
including pro bono contributions) taken into
account.
The compensation ‘share schedule’ is set every
three years at the beginning of the firm’s fiscal year
on 1 October. A bonus fund of up to 15 per cent of
net profit is also available to the management
committee to make discretionary awards.
Covington’s equity spread operates on a one-tofive
ratio. The firm has utilised a revolving borrowing
facility for the past eight years and can, if necessary,
convert this to longer-term debt.
|
| |
|
|
|
