Herbert Smith – UK 100

Turnover: £243m

Profit per equity partner: £700,000

Equity spread: £327,000-£760,000

Net profit: £78m

Profit margin: 32 per cent

Salaried partner remuneration: £170,000

Revenue per lawyer: £290,000

Revenue per partner: £1,227,000

Revenue per equity partner: £2,189,000

Cost per lawyer: £197,000

Profit per lawyer: £93,000

No of partners: 198

No of equity partners: 111

No of female partners: 28

No of female equity partners: 11

Total no of fee-earners(including consultants, paralegals etc): 1,095

Total no of fee-earners(excluding consultants, paralegals etc): 837

Total no of staff: 1,902

Leverage ratio: 1:5.76

Equity partner to staff ratio: 1:7.27

Fee-earner to staff ratio: 1:0.74

Financial management: Lockup target 135 days, achieved 126 days (average WIP 50 days, average debtors 76). Practice profile by revenue is corporate at 38 per cent, litigation at 42 per cent, real estate at 11 per cent and finance at 9 per cent.

Equity structure: Modified lockstep with 11 steps.

Billable hours targets: 1,700 assistants, 1,200 partners.

Key clients: Department of Trade & Industry, London Underground Limited, Royal & SunAlliance, Securicor, TimeWarner, TXU, Virgin.