Revenue hits £1.359bn at Clifford Chance, PEP up 16 per cent to £1.14m

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  • I doubt very much that the staff in India will get any sort of bonus from the profits!

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  • It'll be interesting to see if the leading regional players like Eversheds, DWF and Bond Dickinson replicate a 16% increase.

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  • I also doubt very much the staff in India had a pay cut last year when profits fell.

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  • I wonder how much the screw was turned on resilient, overworked and ambitious junior lawyers to bring on these results. They get paid well in relative terms but the surplus value they create is in effect blood money and the published results witness to that. I only wish these youngsters preserve their sanity and arrive unscathed in middle age when they could enjoy their material rewards.

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  • @ Anonymous 11.10am - don't Clifford Chance HR/CC Partners have anything better to do than post on the Lawyer?

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  • I think when you'll find that in relative terms they actually don't get paid well, compared to the hours they put in and billing they generate the partners PEP is swelled by delegation, as is the norm, it's just these worker rats are like machines - they have to be or they would not survive the environment. Do the junior lawyers ever see the light of day to enjoy their "material rewards." I think we all know the answer to the question. Still, well done CC on the PEP increase. Very impressive.

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  • Did CC release their total number of non-equity partners as well? Without information on the number of equity vs non-equity partners, PEP is a bit meaningless as they can just swell the non equity ranks to raise PEP.

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  • Looking at pre-tax profit, CC's profit margin is approx 33%. A&O's is approx 43%. That is a more accurate indicator of financial performance given the way PEP, as others have intimated, can be manipulated

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  • I'm sick of people mentioning "staff in india not getting bonuses"

    If you're not on the Business side, you don't get a huge bonus (or indeed any at all) because you're not bringing in revenue.

    Hence bankers not lawyers get bonuses in banks, marketing not finance gets bonuses in a FTSE100 company.

    Get on with it.

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  • Edward - do be quiet. Why shouldn't staff in India get pay rises or bonuses? They are used as cheap labour. Support staff in investment banks do get bonuses and so do those at Clifford Chance. Its the staff in India that save costs to make sure that greedy people like you get more!

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