Twelve UK firms have top equity partners on more than £1m, with those at Slaughter and May breaking the £2m barrier.
Last year eight firms boasted top of equity millionaires, but as figures in The Lawyer UK 200 Annual Report 2007 (published today, 3 September) reveal, the pool is widening.
The firms are largely a mixture of global elite and silver circle City practices. Allen & Overy saw plateau partners receive £1.54m in the last financial year, while their peers at Linklaters pocketed £1.62m.
BLP just made it into the group due to its top earners receiving £1m. Plateau partners at Freshfields received £1.1m, which is below their magic circle counterparts’ earnings and equal to SJ Berwin’s top of equity. Clifford Chance’s plateau partners received £1.15m.
Slaughters is the only firm at which the entire partnership is on more than £1m. Plateau partners at the firm, who constitute well over two-thirds of the partnership, made £2.03m, while first-year equity partners broke the £1m barrier for the first time.