UK elite law firm partners earn over £2 million a year

Star performers in elite UK law firms now earn over £2 million, according to the latest figures from the Lawyer.

Andriy Kravchenko

UK firms are also holding their ground against the US invasion of law firms with the last decade revealing total net profits from the top 100 increasing to £6.9 billion, up 61 per cent from 2007. According to The Lawyer, the highest level of profit per equity partner was £2.02 million, up from £1.62 million ten years ago. The figures also reveal that Allen & Overy was top performer with an average profit per equity partner of £1.5 million.

US profits

However, the US firms are well ahead in terms of profits per equity partner (PEP) with two Am Law 100 firms boasting PEP of more than $5 million – Wachtell Lipton Rosen & Katz and Quinn Emanuel Urquhart & Sullivan. A further six are above the $4 million mark whilst 16 are above $3 million. Nearly three in four of the top 100 US firms have partner profits of more than $1 million. Sources: The Lawyer, The Financial Times, Legal Week.

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