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.
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.