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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.
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.