The Lawyer UK 100 Annual Report 2006, published today (4 September), has revealed for the first time the extent to which equity partnerships are shrinking at the UK’s top firms.
DLA Piper‘s equity partnership shrank from 31 per cent to just 29 per cent last year. On this basis its average earnings per partner (EPP) is £283,000, compared with a profit per equity partner of £604,000. The average remuneration for a non-equity partner at DLA Piper was £149,000.
The EPP figure is calculated by adding the profit that remunerates salaried and fixed-share partners to the net profit and then dividing the sum by the total number of partners.
The research also shows that 76 per cent of the firms in the top 100 have 70 per cent or less full-equity partners in the partnerships as a whole.