Travers Smith Braithwaite – UK 100

Turnover: £45m

Profit per equity partner: £415,000

Equity spread: £225,000-£650,000

Net profit: £18.7m

Profit margin: 42 per cent

Salaried partner remuneration: £100,000-£150,000

Revenue per lawyer: £288,000

Revenue per partner: £865,000

Revenue per equity partner: £1,023,000

Cost per lawyer: £169,000

Profit per lawyer: £120,000

No of partners: 52

No of equity partners: 44

No of female partners: Seven

No of female equity partners: Six

Total no of fee-earners (including consultants, paralegals etc): 198

Total no of fee-earners (excluding consultants, paralegals etc): 156

Total no of staff: 340

Leverage ratio: 1:2.36

Equity partner to staff ratio: 1:3.23

Fee-earner to staff ratio: 1:0.72

Financial mangement: Average capital contributions are up to £150,000. Average 80 per cent recovery rate on billings and no debt. Firm made no adjustment for FRS5, but if it had, it estimates that profits would have risen by £2m.

Equity structure: Modified lockstep with 10-year ladder and two to one spread plus 5 per cent merit element. Last year there were 17 partners at the top of the lockstep pre-bonus pool.

Billable hours targets: None.

Key clients: Apax, Cazenove, 3I, NTL and Numis.