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Revenue declined at Winston & Strawn in 2009 while profits remained flat. Gross revenue decreased by 5%, roughly $40 million. Profits per partner remained steady at $1.283 million and the number of equity partners (184) at the firm did not decrease either. Revenue per lawyer decreased 2.6% to $835,824. To absorb decreasing revenues the firm trimmed its bonus pool and both associates and non-equity partners took compensation hits in 2009. The average compensation for non-equity partners at Winston & Strawn declined by 14.5%. There was also a drop in non-equity partners from 210 to 197 last year. Overall headcount decreased by 3% to 843 lawyers.
Founded in 1853, Winston & Strawn is a Chicago based firm with offices worldwide including Beijing, Charlotte, Geneva, Hong Kong, London, Los Angeles, Moscow, Newark, New York, Paris, San Francisco and Washington, D.C.
