'Power Alley' Practices Push McDermott to New Revenue, Profit Highs
The firm posted double-digit revenue gains as its fast-growing equity tier surpassed $2 million in profits per partner.
March 06, 2020 at 03:15 PM
6 minute read
The original version of this story was published on The American Lawyer
For the second year in a row, Chicago-based McDermott Will & Emery saw double-digit revenue growth in 2019, boasting an 11% increase to $1.17 billion.
Revenue per lawyer was up 7% to $1.12 million, while profits per equity partner increased 6.5% to eclipse $2 million—across an expanding partnership—on a 27% rise in net income to $413 million.
The firm upped its overall attorney count by 3.8% to 1,051, while the equity partnership grew 19% from 173 to 206. The nonequity partner tier contracted by 9.6% to 328, which the firm credited largely to promotions.
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