Macfarlanes – UK 100

Turnover: £67m

Profit per equity partner: £720,000

Equity spread: £420,000-£920,000

Net profit: £28.8m

Profit margin: 43 per cent

Salaried partner remuneration: £90,000-£275,000

Revenue per lawyer: £353,000

Revenue per partner: £1,063,000

Revenue per equity partner: £1,675,000

Cost per lawyer: £201,000

Profit per lawyer: £152,000

No of partners: 63

No of equity partners: 40

No of female partners: 10

No of female equity partners: Five

Total no of fee-earners (including consultants, paralegals etc): 252

Total no of fee-earners (excluding consultants, paralegals etc): 190

Total no of staff: 474

Leverage ratio: 1:3.18

Equity partner to staff ratio: 1:5.55

Fee-earner to staff ratio: 1:0.88

Financial management: No debt and no formal partners’ capital contributions. Partnership funded by holding back 10 per cent of drawings on a rolling basis each year. All other drawings paid out within six months. Average WIP on the lower side of average due to corporate transactional practice.

Equity structure: Meritocracy.

Billable hours targets: None

Key clients: Alchemy, Pernod Ricard, 3i, Virgin.