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Paul, Weiss, Rifkind, Wharton & Garrison offices in Washington, D.C.

Paul, Weiss, Rifkind, Wharton & Garrison grew revenue 11.2% to cross the $1.5 billion mark, upped its profits per partner over 14% to nearly $5.4 million and saw its net income grow almost 19% to $856 million in a strong year for the firm that saw not just financial challenges for many businesses, but social and political upheaval that went to the core of how Paul Weiss wants to define itself. 

Unlike many firms, Paul Weiss did not institute cost cutting measures such as staff layoffs, equity partner demotions or furloughs. And that may have impacted the firm’s profitability, which saw a close alignment between revenue growth (11.2%) and profits per equity partner (14.3%), while many other firms saw much larger PEP growth, some of which was facilitated by cost cutting and increased reliance on non-equity partners.

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Patrick Smith

Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, cannabis law and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd

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