Record profits and partner payouts at McCarter & English

Newark-based firm hits milestones in revenue, profits and pro bono commitment

McCarter & English has achieved another year of record growth — with profits per equity partner reaching $1.152 million, an increase of over 23% from the previous year.

Executive Committee Chairman Joe Lubertazzi Jr., Firmwide Managing Partner Joe Boccassini and Chief Operating Officer John Brefach said the firm concluded its fiscal year Sept. 30, celebrating a new record in gross revenue and its fourth consecutive year of profit growth.

“Our people set themselves apart this year,” Lubertazzi said. “They weathered unprecedented challenges — both personal and professional — and, yet, they continued to serve their clients and communities in line with the standard of excellence for which McCarter is known.”

Boccassini agreed.

“The pandemic revealed the resilience of our firm and the strength of our client relationships,” he said. “In difficult and uncertain circumstances, our clients trusted us with their complex transactions and bet-the-company litigations. Our success is a testament to that trust, and the lawyers and staff who earned it through their skill and diligence.”

On the heels of the most successful year in its history, the firm points to several advancements:

  • The addition of nine new lateral partners across five of its offices, including two former assistant U.S. attorneys;
  • The election of 11 new partners, resident in seven of the firm’s offices and representing eight of its practice groups;
  • Expanded capabilities in government affairs, Hatch Waxman and white collar criminal defense;
  • An innovative and comprehensive associate recruiting and retention program, featuring a diverse training curriculum and an across-the-board increase of $20,000 in associate and patent agent salaries.

Lubertazzi emphasizes that the firm is in a “growth mindset,” and plans to leverage its success to continue to pursue strong lateral candidates, expand its service capabilities and further improve the ways in which it serves its clients and communities.

In addition to their work on behalf of prominent companies and business leaders, McCarter attorneys have dedicated thousands of hours to provide critical pro bono services to support the legal needs of low-income and marginalized individuals. Founded in 2020, the McCarter & English Social Justice Project has continued to work with community partners, including the Pennsylvania Innocence Project, to address racial disparities in the criminal justice system and expand its community economic development efforts.

The firm’s broader pro bono program has likewise developed groundbreaking projects throughout its footprint, offering essential services to our nation’s veterans, victims of domestic violence, sexual assault and trafficking, and in defense of children in vulnerable circumstances.

In September 2021, the firm was selected as the “Law Firm Pro Bono Mission Partner of the Year” by the Veterans Consortium Pro Bono Program in recognition of its extensive work on behalf of veterans wrongly denied benefits.

The firm recently welcomed pro bono fellow for the city of Newark Michelle Smith and Social Justice Project fellow Yadilza Reyes to the firm. Both fellows are dedicated to providing both pro bono services and educational programming to marginalized communities to address and combat the impact of illegal evictions and racial injustice in our communities.

“As a firm, we have committed ourselves to impactful pro bono and community service work designed to address the root causes of the inequities so many of our neighbors confront on a daily basis,” Lubertazzi said. “This commitment is an essential part of our identity as a firm, and I could not be more proud of how our lawyers have dedicated themselves to helping those in need and advocating for those who would not otherwise have a voice.”