The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
UK revenue per partner/equity partner: £2.2m/£2.2m
Global revenue per equity partner: £1.7m
UK/global number of partners: 23/367
UK/global number of lawyers: 89/1,513
UK number of staff: 71
UK/global leverage ratio: 1:2.9/1:3.1
UK equity partner to staff ratio: 1:3
Equity structure: Modified lockstep. 85 per cent is lockstep with remaining 15 per cent a merit-based bonus. Begins at 300 points and peaks at 900. There are two gateways at 500 and 700 points. The majority of partners plateau at 700 points.
Billable hours targets: 1,900
Billing currency: Majority dollar and sterling, but euro component is beginning to increase.
Cost of living details: In 2003, four lawyers were seconded in London. Assistance for US partners and US associates is calculated on a formula based on a number of factors.
UK-based lawyer remuneration: All partners are paid in dollars, US associates can elect for dollars or sterling, UK associates are paid in sterling.