When it comes to law firm financials we all know that profit per equity partner (PEP) is just one measure of many. But let’s face it – it’s still the most eyecatching.
Those of you of a sensitive disposition may want to look away now. The Lawyer UK 200 Annual Report, out on 3 September, will show that no fewer than 12 UK firms have top equity partners on more than £1m (see story).
And if there was any doubt about the new order, the dozen firms are essentially a mixture of the global elite and silver circle.
But the daddy of them all is still Slaughter and May. Last year Linklaters was gaining ground on Slaughters. This year Slaughters’ plateau partners are earning half a million more than their Silk Street rivals, on just over £2m – and without tinkering with the equity numbers.
With figures like that Slaughters partners can afford to be relaxed about a market downturn.