Lawrence Graham – UK 100

Turnover: £58.6m

Profit per equity partner: £416,000

Equity spread: £226,000-£615,000

Net profit: £20.8m

Profit margin: 35 per cent

Salaried partner remuneration: £103,000-£185,000

Revenue per lawyer: £292,000

Revenue per partner: £698,000

Revenue per equity partner: £1,172,000

Cost per lawyer: £188,000

Profit per lawyer: £103,000

No of partners: 84

No of equity partners: 50

No of female partners: 15

No of female equity partners: Eight

Total no of fee-earners (including consultants, paralegals etc): 262

Total no of fee-earners (excluding consultants, paralegals etc): 201

Total no of staff: 502

Leverage ratio: 1:2.34

Equity partner to staff ratio: 1:4.8

Fee-earner to staff ratio: 1.0.92

Financial management: No debt. Partners’ capital contributions are £175,000. Average WIP 86 days. Average debtor days 64.

Equity structure: Lawrence Graham operates a seven-category system of remuneration. Partners enter the equity on a three-year lockstep at category seven. After three years the remuneration becomes entirely merit-based. The top of the lockstep at Lawrence Graham last year was actually £565,000, a ratio of 2.5:1, but with the prize fund system that the firm runs for top-performing partners, who are known as category one partners, it reached £615,000 for one partner. Two other partners were at the top of the equity at £565,000.

Billable hours targets: 1,400 for partners and assistants.

Key clients: Scottish & Newcastle, Legal & General, J Sainsbury, Axa, Cigma.