Latham & Watkins – UK 100

UK/global turnover: £50m/£630m

UK/global PEP: £761,000/£777,000

UK/global revenue per lawyer: £562,000/£416,000

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.