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.