Firm chair Brad Karp said a decline in headcount was a consequence of “not over-hiring," and as associates left in the lateral market last year, the firm chose not to replace them.
March 24, 2023 at 03:07 PM
7 minute read
The original version of this story was published on The American Lawyer
After two years of double-digit growth highs, Paul, Weiss, Rifkind, Wharton & Garrison saw its revenue dip 2.4% to $1.8 billion in 2022 and its profits per partner, which crossed the $6 million mark for the first time in its history in 2021, fell 7.1% to $5.73 million last year.
Paul Weiss’ revenue per lawyer, however, rose 2.6% to $1.89 million, as the firm’s total lawyer headcount fell 5% to 958 lawyers.
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Brad Karp, partner at Paul Weiss. Photo: Ryland West/ALM
