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Freshfields Bruckhaus Deringer PEP surges 39 per cent

Flawed figures - why not standardise them? Would it be too much to ask for the ridiculous figure of profits per equity partner to be done away with? The discussion on this board shows just how utterly meaningless such a figure is. Any firm can boost their PEP simply by de-equitising hordes of partners or making up lots but leaving them salaried. If you're going to bother having a one-stop figure for comparison purposes, you may as well have revenue per partner (which was the direction you very sensibly started moving in last year). Unless you have a standardised measure which actually shows how much business each partner has brought in, you might as well not bother. If someone is a partner, they should be included in the firm's headline figures. If the law firms aren't prepared to do that themselves, perhaps the legal press should?

3-Jun-2008

9:54 am