UK revenue per partner/equity partner: £2.2m/£2.2m
Global revenue per equity partner: £2.4m
UK/global number of partners: 8/145
UK/global number of lawyers: 35/637
UK number of staff: 34
UK/global leverage ratio: 1:3.4/1:3.4
UK equity partner to staff ratio: 1:4.25
Equity structure: Modified lockstep that runs to between 14 and 15 steps.
Billable hours targets: None set.
Billing currency: Mixture of dollar, sterling and euro, depending on client and transaction.
Cost of living details: Around one third of the London office’s lawyers can expect to relocate to the US in the future, but are not on a fixed schedule. Beginning in 2003, US lawyers received a fixed annual payment – around $50,000 (£30,500) subject to tax – in addition to normal compensation. In 2004 this lump sum has increased to around $70,000 (£43,000).
UK-based lawyer remuneration: All partners are paid in dollars. Compensation for all associates is based on New York rates. Some are paid in sterling using an exchange rate set at the beginning of the year.