A fortnight ago we trailed this year’s The Lawyer 100 survey with an early-doors glimpse of the top 50. Now most of the figures are out, and the full glory, or disaster, of this year’s performance is almost ready to be released.
But before the full end-of-term report comes out – which is bigger and better than ever before, naturally – we thought you might like a sneak preview at some of the most eye-catching, and in some cases almost unbelievable (although we’re sure lawyers don’t lie) statistics.
Try this one on for size: the bottom of equity at Simmons & Simmons. Officially, it’s a reasonable £140,000 on the bottom rung of the ladder. Unofficially, there were equity partners taking home a mere £90,000.
Then there’s Addleshaw Goddard‘s impressive, ever-reducing debt mountain – around £10m in a year, as revealed by The Lawyer (21 June). What about Macfarlanes‘ average profit per lawyer figure of £155,000; Kennedys beating its 203-day lockup target last year by 64 days; and Fladgate Fielder’s profits per equity partner (PEP) steady at around £400,000 for three years in a row.
Then there’s McGrigor Donald’s London corporate team amazingly beating budget, despite being three partners lighter since September 2003; and Keoghs‘ average capital contribution per partner figure of £175,000 against average PEP of £114,000.
We’re still busily working on the figures, so unfortunately we can’t tell you which firm has the highest equity partner to staff ratio yet, although we will.
But we’ve saved the best until last: see if you can guess how much last year’s PEP was at Newcastle’s Watson Burton. Remember last year’s £420,000 figure? Add another £180,000 and you’re there.