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Clarke Willmott's PEP slumps to 10-year low at £140k

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  • As the article intimates, this is a poor performance. Everyone knows that times are tough in some circles, but by any measure the people in Clarke Willmott must be asking themselves why they are toiling away for such small spoils. These earnings at the top are equivalent to, or close to, what many salaried partners are taking home in many many regional firms. When that is the case remaining clients who are aware of the declining fortunes of this firm have to ask themselves if this is a quality firm attracting and retaining talented and committed individuals throughout its ranks. A client might speculate not, and if its watching its supply chain, then a firm like this may be at increased risk of losing what good / bulk work it has left.

    Best of luck to those there at the firm, and the firm, as these results suggest that they need it.

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  • Ouch. Looks like the pressure will be on in London with £1.3m fees from 9 fee earners, particularly with 5 partners making their contributions to that.

    I hope for them that their workload is rapidly moving upwards.

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  • I would rather applaud a firm that invests in its infrastructure at this point in the economic cycle. Too many firms are posting PEP numbers that are inflated by reducing EPs, under-investment and other short-sighted decisions. In any event, anyone with a sense of perspective knows that PEP is a nonsense. Good luck to Clarke Willmott (and no, I don't work there!).

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  • I agree with Bob and the firm's decision to stop recruiting external trainees is surely likely to cost them the best talent at the very junior level. Although a friend who shall not be named has informed me that current trainee retention rates at the firm in 2013 are around 40%!

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  • In their very obvious financial squeeze it may be a choice between spending money on trainees or a flash London pad.

    Disregarding PEP a national firm with EP's producing just over £1mn turnover is poor and one wonders how many are achieving that. Perhaps for many CW EP's this is the only show in town whereas those who can go, do, and thrive.

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