Shearman & Sterling – UK 100

UK/global turnover: £53.4m/£445m

UK/global PEP: £916,000/£741,000

UK/global revenue per lawyer: £438,000/£446,000

UK revenue per partner/equity partner: £2.1m/£2.1m

Global revenue per equity partner: £2.2m

UK/global number of partners: 25/203

UK/global number of lawyers: 122/998

UK number of staff: 125

UK/global leverage ratio: 1:3.8/1:3.9

UK equity partner to staff ratio: 1:5

Equity structure: Modified lockstep, with 11 steps, the majority of partners plateau at step nine. Progress through first three steps is automatic.

Billable hours targets: None set.

Billing currency: Majority sterling, small percentage dollar and euro.

Cost of living details: Six partners and 15 associates on secondment in London. US associates are offered a housing allowance, a lump sum towards change in living costs and a provision that is adjusted to cover foreign exchange movement.

UK-based lawyer remuneration: All partners are paid in dollars. UK associates receive sterling. US associates are paid in dollars with the cost of living allowance adjusted to cover fluctuating currency conditions.