Profit per equity partner: £222,000
Equity spread: £147,000-£270,000
Net profit: £6.5m
Profit margin: 34 per cent
Salaried partner remuneration: £106,000
Revenue per lawyer: £210,000
Revenue per partner: £478,000
Revenue per equity partner: £955,000
Cost per lawyer: £138,000
Profit per lawyer: £71,000
No of partners: 40
No of equity partners: 20
No of female partners: Nine
No of female equity partners: Two
Total no of fee-earners (including consultants, paralegals etc): 112
Total no of fee-earners (excluding consultants, paralegals etc): 91
Total no of staff: 210
Leverage ratio: 1:2.55
Equity partner to staff ratio: 1:4.9
Fee-earner to staff ratio: 1:0.88
Financial management: Lockup target 100 days, achieved 125 days (average WIP 40 days, debtor days 85). Average fixed capital contribution for equity partners £85,000.
Equity structure: Merit-based equity system, which takes into account partner performance over the two previous years. A remuneration committee meets once a year and can move partners up or down a band as necessary. Technically there is no ceiling, with one partner at the highest current level, eight bands above entry level. Most partners are on the sixth band. If performance is failing, a partner has one year to improve before being moved down a band.
Billable hours targets: 1,100 partners.
Key clients: Abbott Mead Vickers, BAA, Barratt Homes, Dell, Havas, Harrods, Haymarket, Rio Tinto, Royal Bank of Scotland.