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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Norton Rose’s highest earning partner took home more than £1m in 2011/12 – the most that has ever been paid to a member at the firm since it became an limited liability partnership.
According to the firm’s LLP account, Norton Rose’s highest paid partner received £1.021m in 2011/12. In 2010/11 the highest paid partner got £839,000. Before that, the most any partner had received since the firm began reporting its accounts as an LLP was £901,557 in 2007/08.
The average number of partners at Norton Rose during 2011/12 also increased, rising from 202 to 224. Similarly, the firm’s wage bill rose from £142.8m to £152.4m as the average number of people employed at the firm during the year increased from 2,099 to 2,124.
The LLP accounts also showed that fee income at Norton Rose was £354.9m in 2011/12, up from £333.2m in the previous financial year. Proft for the year available for distribution among partners meanwhile was £81.2m, up from £76.7m. The profit for the LLP – which comprises a mixture of UK and overseas offices owned directly by the LLP, but does not include all of Norton Rose’s operations – was down from from £79.309 to £77.543m.
Cash at the bank and in hand at the firm was effectively stable during 2011/12, at £15.1m.