Profit per equity partner: £209,000
Equity spread: £125,000-£280,000
Net profit: £4.5m
Profit margin: 19 per cent
Salaried partner remuneration: £80,000-£120,000
Revenue per lawyer: £222,000
Revenue per partner: £486,000
Revenue per equity partner: £1,133,000
Cost per lawyer: £180,000
Profit per lawyer: £42,000
No of partners: 49
No of equity partners: 21
No of female partners: 12
No of female equity partners: Seven
Total no of fee-earners (including consultants, paralegals etc): 134
Total no of fee-earners (excluding consultants, paralegals etc): 107
Total no of staff: 269
Leverage ratio: 1:2.76
Equity partner to staff ratio: 1:6.43
Fee-earner to staff ratio: 1:1.01
Financial management: Lockup target between 115 and 120 days, achieved 122 (average WIP 32 days, average debtor days 90). Average partners’ fixed capital is £80,000.
Equity structure: Modified lockstep with 10-year ladder of five two-year stages. Partners enter the equity on 500 points, rising by 100 points a step to 1,000 points. Progression through stages one and two are automatic, while the final three require elections by the equity partners. The ratio between top and bottom is just over 2:1.
Billable hours targets: 1,600 assistants, 1,300-1,450 for partners.
Key clients: Burford, Bail Investissement, Pizza Hut, Value Retail plc, Hiscox, Elle Macpherson, YJL Construction.