|Top of the PEPs||Revenue||PEP Table|
It’s not easy to make £1m. You could work for Sir Alan Sugar for 10 years, living at your parents’ house and not spending a single pound. Or you could reach the top of the equity ladder at Stephenson Harwood.
After posting a 17 per cent rise in average profit per equity partner (PEP) this year to hit £620,000, the top of equity jumped to £900,000 from £750,000 the year before.
This means that if bonuses for the top billing partners are around the same levels as previous years, that a few SH partners could pull in seven figures this year.
Bonuses are yet to be decided, but the chances are that Stephenson Harwood stars and magic circle partners could bump into each other at the same exclusive golf clubs this year.
Chief excutive Sunil Gadhia says the firm’s rapid profit increase is more to do with prudent management rather than financial sleight of hand.
Three years ago the firm had an average of 36 equity partners and 31 non-equity partners and a PEP of £280,000. This year it has 43 equity partners and 39 non-equity partners and a PEP of £620,000.
Which means that unlike other managing partners who have made the same claim, Gadhia just might be telling the truth.
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