The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Total no of fee-earners(including consultants, paralegals etc): 2,415
Total no of fee-earners(excluding consultants, paralegals etc): 1,879
Total no of staff: 4,797
Leverage ratio: 1:4.64
Equity partner to staff ratio: 1:7.63
Fee-earner to staff ratio: 1:0.99
Financial management: Lockup target 100, achieved 96 (average WIP 34, average debtors 62). Average fixed-capital contribution per equity partner £368,000.
Equity structure: Modified lockstep with 15 steps in the lockstep and 23 partners at the top of equity.
Billable hours targets: 1,600-1,700 for associates, although last year the firm introduced a non-billable component that pushed 'office' hours up to 2,200, or around 10 hours per day. The additional hours are expected to be spent predominantly on activities of 'high value to the business' such as know-how, but there is also a requirement of five hours a year on pro bono. Partner hours vary by group.