Allen & Overy – UK 100

Turnover: £652m

Profit per equity partner: £609,000

Equity spread: £381,000-£952,000

Net profit: £196m

Profit margin: 30 per cent

Salaried partner remuneration: £140,000-£200,000

Revenue per lawyer: £347,000

Revenue per partner: £1,513,000

Revenue per equity partner: £2,090,000

Cost per lawyer: £243,000

Profit per lawyer: £104,000

No of partners: 431

No of equity partners: 312

No of female partners: 51

No of female equity partners: 37

Total no of fee-earners(including consultants, paralegals etc): 2,415

Total no of fee-earners(excluding consultants, paralegals etc): 1,879

Total no of staff: 4,797

Leverage ratio: 1:4.64

Equity partner to staff ratio: 1:7.63

Fee-earner to staff ratio: 1:0.99

Financial management: Lockup target 100, achieved 96 (average WIP 34, average debtors 62). Average fixed-capital contribution per equity partner £368,000.

Equity structure: Modified lockstep with 15 steps in the lockstep and 23 partners at the top of equity.

Billable hours targets: 1,600-1,700 for associates, although last year the firm introduced a non-billable component that pushed ‘office’ hours up to 2,200, or around 10 hours per day. The additional hours are expected to be spent predominantly on activities of ‘high value to the business’ such as know-how, but there is also a requirement of five hours a year on pro bono. Partner hours vary by group.

Key clients: Barclays, Baugur, Cable & Wireless, Citigroup, Goldman Sachs.