The latest round of promotions for 2007 have revealed that it takes an average of 8.6 PQE years for UK associates in the top 10 UK firms to be promoted to the partership, a rise of almost a year compared with promotions in 2004.
This also represents a slight rise on the previous year, when it took associates an average of 8.2 years PQE to be made up.
Research by The Lawyer has also revealed that over the last four-year period, Allen & Overy associates in London have the quickest track to partnership compared with its magic circle counterparts, with associates taking an average of 7.9 years PQE to become partners.
This compares with Freshfields Bruckhaus Deringer, where associates took an average of 9.2 years PQE to become partners, over the same four-year period, more than any of its magic circle rivals.
Over the same period, Clifford Chance associates had to wait on average 8.1 years PQE with Linklaters following at 8.5 years PQE.
The survey also shows that in the latest round of promotions, Freshfields associates had to wait the longest before becoming partners, at 12 PQE years, representing an increase of 4 years from the previous year.
Associates in Eversheds’ UK offices had the next longest wait to become partner this year, with associates being made up after racking up, on average, 10.2 PQE years.
This year, Slaughter and May associates were, on average, being made up to partner leveal at 7 years PQE, representing the quickest parternship track out of the top 10 UK firms. The frim was closely followed by DLA Piper, Lovells and Ashurst where associates were, on average, being made up at 7.5, 7.6 and 7.7 years PQE respectively.