Thanks to the AFR for the following profile:

Partner Remuneration System

Lock-step, virtually full equity partnership

Partner Pay For 2008/09

Most of its equity partners earned $1,400,000.00 to $1,600,000.00. Entry-level partners earned $380,000.00 to $400,000.00.

Pay

Estimated Profit Margin = 44%

i see … another international merger!

Estimated Profit = $244,000,000.00

Estimated Profit Per Lawyer = $270,000.00

Estimated Profit Per Equity Partner = $1,300,000.00

Revenue

Revenue 2008/09 = $553,000,000.00

Revenue Change = +1.5%

Revenue Per Lawyer = $610,000.00

Revenue Per Partner = $2,920,000.00

Revenue Per Equity Partner = $2,940,000.00

The Verdict

Even though Mallesons is head and shoulders above its competitors in terms of revenue, chie executive Robert Milliner is cautious about the outlook for this year. Capital markets are showing signs of life but he says there is a lack of liquidity and he questions whether corporate recapitalisations will fuel a significant rise in transactions. Mergers and acquisitions and banking and finance work has now centred on capital raisings, specific projects and refinancings, infrsstructure, energy and resources, litigation and corporate work are showing signs of life.

Comment

Mallesons retains its position as leader of the law firm pack; it is attentively managed and highly responsive to client demands. Its early investment in Asia has helped create a growth in profile in a mature local market. Among its bigger deals was the advice it gave Chinalco on its proposed investment with Rio Tinto. Attention to costs allowed profit margins to be maintained this year, but the cost of the recent voluntary redundancy program will be felt this year, a program that reflects management’s tentative approach to the current year. But the firm will be leaner - and its profits protected - when business conditions pick up, putting it in an even stronger position for global growth.

Send the Firm Spy your news and views!

Related posts

1. How Much Do Freehills Partners Earn - AFR Law Firm Profit Survey Thanks to AFR for the following profile: Partner Remuneration Survey Performance-based, full...
2. How Much Do Baker & McKenzie Partners Earn? AFR Law Firm Profit Survey Thanks to the AFR for the following profile: Partner Remuneration System Performance...
3. How Much Do Minter Ellison Partners Earn? AFR Law Firm Profit Survey Thanks to the AFR for the following profile: Partner Remuneration System Performance-based with...
4. How Much Do DLA Phillips Fox Partners Earn? AFR Law Firm Profit Survey Thanks to the AFR for the following profile: Partner Remuneration System Performance-based...
5. How Much Do Clayton Utz Partners Earn? AFR Law Firm Profit Survey Thanks to the AFR for the following profile: Partner Remuneration System Lock-step model....