Profit per equity partner: £232,000
Equity spread: £60,000-£360,000
Net profit: £6.2m
Profit margin: 26 per cent
Salaried partner remuneration: £115,000
Revenue per lawyer: £225,000
Revenue per partner: £590,000
Revenue per equity partner: £1,026,000
Cost per lawyer: £166,000
Profit per lawyer: £59,000
No of partners: 40
No of equity partners: 23
No of female partners: 11
No of female equity partners: Four
Total no of fee-earners (including consultants, paralegals etc): 136
Total no of fee-earners (excluding consultants, paralegals etc): 105
Total no of staff: 231
Leverage ratio: 1:2.83
Equity partner to staff ratio: 1:4.13
Fee-earner to staff ratio: 1:0.7
Financial management: Exceptional costs for the current financial year include a £1.5m investment in IT, although 70 per cent of that amount will be amortised over eight years and the balance over three. The firm has an overdraft facility of £1.5m, although it tends to dip into this only occasionally, notably when salary and tax payments merge, such as happened in January.
Equity structure: The firm operates a meritocracy. As reported in The Lawyer (5 April 2004), Mishcon de Reya restructured its equity significantly at the start of the current fiscal year and now has 18 equity partners (the 23 figure is pre-restructuring).
Billable hours targets: 1,500 assistants, 1,100 partners.
Key clients: Microsoft, Topland, BetonSports, Euromoney, Helical Bar, ICC Cricket World Cup West Indies 2007, Pentland Group, Winston Group.