After two consecutive years of profits per equity partner dipping by high single digits, Weil, Gotshal & Manges is reporting a 16.5 percent upswing for 2014, with PPP climbing to $2.4 million from $2.065 million—a level not seen since 2011.
Increased demand for the firm’s services, combined with lower head count, also pushed revenue per lawyer up 9.1 percent, to $1.075 million from $985,000. Overall, the firm shrank by 85 lawyers, or 7.3 percent, to 1,072 from 1,157. Equity partner numbers drifted down by three, to 171 from 174, while overall, the partnership, including nonequity partners, dropped by 10 percent, to 281 from 312.
