Steptoe & Johnson – UK 100

UK/global turnover: £6m/£121m

UK/global PEP: £427,000/£427,000

UK/global revenue per lawyer: £273,000/£368,000

UK revenue per partner/equity partner: £0.6m/£3m

Global revenue per equity partner: £1m

UK/global number of partners: 2(10)/121

UK/global number of lawyers: 22/329

UK number of staff: 36

UK/global leverage ratio: 1:10/1:1.7

UK equity partner to staff ratio: 1:18

Equity structure: Merit-based with some elements based on seniority.

Billable hours targets: 1,650 for partners and associates.

Billing currency: Majority of bills are in sterling, but London also charges in dollars.

Cost of living details: In 2003, the firm had one US partner on secondment in London. Cost of living issues are dealt with on an ad hoc basis.

UK-based lawyer remuneration: Equity partners are paid in dollars. All other lawyers are paid in sterling.