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
An exhaustive analysis of the UK market including every firm in the top 200 ranked, analysed and benchmarked, UK chambers ranked by turnover, revenue per barrister and which international firms are most active in the UK.
Net profit: £10.4m (estimated to end September 2004)
Profit margin: 25 per cent
Salaried partner remuneration: £110,000-£140,000
Revenue per lawyer: £173,000
Revenue per partner: £788,000
Revenue per equity partner: £932,000
Cost per lawyer: £129,000
Profit per lawyer: £44,000
No of partners: 52
No of equity partners: 44
No of female partners: 10
No of female equity partners: Nine
Total no of fee-earners (including consultants, paralegals etc): 298
Total no of fee-earners (excluding consultants, paralegals etc): 237
Total no of staff: 493
Leverage ratio: 1:4.2
Equity partner to staff ratio: 1:4.43
Fee-earner to staff ratio: 1:0.65
Financial management: WIP at last balance sheet date was 27 days. Debtor days 87. WIP target is 30 days (balance sheet value), 90 days at selling price. Debtor days 70. Overall target, therefore, of 100 days at year-end. Average fixed capital contribution for an equity partner is £55,000.
Equity structure: Merit-based remuneration.
Billable hours targets: 1,400 assistants, 1,300 partners (no change from previous five years).
Key clients: KPMG, HBOS, O2, Royal Bank of Scotland, Royal Mail.