Quinn Is Rolling In It
Nobody needs to worry about Quinn Emanuel dissolving. Check out Quinn’s profit numbers as reported by AmLaw and The Lawyer:
In tough times, it’s good to specialize in bet-the-company litigation. Revenue at 400-lawyer Quinn Emanuel Urquardt Oliver & Hedges was $441.9 million in 2008, up 15 percent from 2007’s $384.5 million.
Profits jumped 10 percent, from $237.5 million in 2007 to $260 million last year. Profits per partner–already near the top of the Am Law 100 in 2007–rose 11 percent to $3.3 million. Quinn Emanuel has 78 equity partners.
In December, we reported that Quinn Emanuel’s bonus structure was very good for high billers but not so good for people low on hours.
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After the jump, tipsters weigh in about Quinn’s 11% PPP increase.
Below, we reprint Quinn’s bonus structure. You’ll see that associates need to hit 2100 hours to get a Half-Skadden bonus:
In light of the new profit numbers from Quinn, tipsters felt somewhat underappreciated:
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PPP up at this TTT. way to keep it classy quinn. half-skadden boni and record breaking profits. dickwads.
Another tipster said:
You hear that? That is the sound of hundreds of QE associates gnashing their teeth at once. Cheap bastards. Share the f***ing wealth.
On the other hand, Quinn did find a way to get profits per partner up to $3.3 million without laying off associates during the worst economic crisis since the Great Depression. It could be that they are doing something right.
THE AM LAW 100: Quinn Emanuel Sees Double-Digit Growth in Revenue, Profits [AmLaw Daily]
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Quinn Emanuel: double digit revenue, PEP hikes [The Lawyer]
Earlier: Associate Bonus Watch: Quinn Emanuel Rewards Busy Bees