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Partnership Remuneration System
Lock-step with performance-based elements.
scroooooooooge!Partner Pay 2008-09
A select few equity partners took home as much as $1,400,000.00, while most received about $900,000.00. New partners began on $380,000.00 to $400,000.00.
Profits
Estimated Profit Margin =38%
Estimated Profit = $158,000,000.00
Estimated Profit Per Lawyer = $180,000.00
Estimated Profit Per Equity Partner = $870,000.00
Revenue
Revenue 2008/2009 = $415,000,000.00
Revenue Change on 2007/08 = +2.2%
Revenue Per Lawyer = $480,000.00
Revenue Per Partner = $2,180,000.00
Revenue Per Equity Partner = $2,280,000.00
The Verdict
Chief executive partner Michael Rose says Allens‘ market share grew last year and he is “very satisfied” with the firm’s performance, especially in the resources and capital markets areas. Results from Asia were less impressive although energy work in Indonesia remains strong.
Comment
Allens retains one of the strongest line-ups of blue-chip clients and scored several prime jobs from issuers turning to the capital markets to bolster balance sheets as the economy soured. While Allens trails its key competitors in the revenue and the profit stakes, its partnership is one of the most collegiate and brims with self-assurance.
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