Linklaters handed £2.2m profit share to highest-earning partner in 2010-11

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  • meanwhile, there's public sector strike, over a million people are unemployed and everyone else in the legal industry is suffering... All i can say is it's a crazy world!

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  • Do these figures represent the total earnings of this partner? Am I correct to assume that the chap would have been paid bonuses and other benefits on top? If I am correct, how much is he actually taking home in total? Thanks

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  • Bonus on equity profits? Not sure that's how it usually works Bobby!

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  • Thouroughly well deserved. There should be even bigger cuts in public spending so that people like this can pay lower taxes and take an even bigger share of national wealth, they deserve everything they get unlike the feckless scum working in schools and hospitals.

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  • Not only are there no bonuses on equity profits, the need to keep capital in the business, usually means that partners can't take out all the profit. If banks put the squeeze on, then drawings are often massively reduced to reduce borrowings.

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  • We often tend to forget that wealth creation is done by those at the top and not at the bottom of the social ladder. After paying the highest rate of tax to the exchequer and spending a lot of the money in British businesses, I should imagine that society had benefitted rather well. Why is there such a perception that those earning more is not contributing to society?

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  • Thanks for the answers. Just trying to understand how it all works. Would he not get client introduction bonus or something like that? I have only just started and am trying to understand what the max earning potential is.... merci

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  • We often tend to forget that wealth creation is done by those at the top and not at the bottom of the social ladder.
    ====================
    Yes you are so right, salaries and wealth in our society reflect the amount of wealth 'created' by someone.
    A TV newsreader earning £500k creates far more wealth than someone working in R&D at Rolls Royce on £50k. A partner in a law firm helping private equity companies to acquire and asset strip businesses, or helping hedge funds to speculate, creates far more wealth than a worker in a car factory.
    Only the truly stupid or truly self-interested could believe such garbage. Go to the countries of the future, such as South Korea, China and Japan, and you will see that the attitude there is totally different. Real wealth is created through industry and technology and the development of national infrastructure, not by lawyers.

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  • 'took home' is a little misleading given the hefty tax burden in the UK. Let's up and move to HK where your money goes further and taxes re less.

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  • Partners in big law take home millions, less than one is rare, a couple of millions is common and there are a bunch of them on 3 or more. Yet, they earn a fraction of what people of similar seniority earn in the banking and corporate world, actually, lawyers are the poor cousins in the City. If you are after money, you'd better change career. It is easy to judge from the outside, being a lawyer is a tough life, almost like being a doctor, your family life goes down the drain, you don't do this job for the money.

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