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.
Top equity partners at Linklaters & Alliance will make over £1m for the first time this year.`The firm is set to post record figures, with turnover leaping from £395m in 1999-2000 to some £505m - a 28 per cent rise. Indications are that top equity partners, who last year drew £925,000, will make around £1.05m, while average profits per partner have increased from last year's figure of £710,000 to over £800,000.`Figures are still to be finalised, but Linklaters becomes the third magic circle firm where the partners at the top of lockstep will earn over £1m. Last year's The Lawyer 100 reported that top Slaughter and May partners would earn £1.2m and plateau partners at Allen & Overy (A&O) would draw £1.08m. But all three operate a different shareout. The length of the partnership track at A&O means that few partners are at the top of equity, while Slaughters proportionally has many more partners at the top.`All the magic circle firms have had record years. The Lawyer has already revealed that Clifford Chance's global turnover was just shy of £1bn at £915m, while Freshfields Bruckhaus Deringer's gross fees are understood to be some £625m. Linklaters' turnover also includes four months worth of Oppenhoff & Rädler's fees after the merger in January this year. Both Clifford Chance and Freshfields have also had their turnovers boosted by German mergers.`Linklaters declined to comment.