Law Firm Finances and Profitability
Quinn Emanuel pushes London revenue past £200m
Turnover hits £220.1m in 2024 as profit dips slightly following 60% leap in 2023
Bonus season gets underway as quartet of Big Law firms fall in line with Milbank
Cravath, Paul Hastings, McDermott and Fried Frank match Milbank in handing out up to $140,000 of extra cash to associates
Milbank rings in associate bonus season, dishing out up to $115,000
Bonuses ranging from $15k to $115k to be handed out by 31 December
AmLaw 200 partner pay hits record $1.4m
Average compensation jumps 26% in two years according to survey by Major Lindsey & Africa
A&O Shearman ‘moving to all-equity partnership’
Merged firm is reportedly adopting a three-level modified lockstep
Addleshaw Goddard joins raft of firms upping London NQ rates to six figures
Addleshaws’ newly-qualified London lawyers will see salaries increase 5% to £100k
Freeths increases turnover by 13% as double-digit revenue growth trend continues
Revenue hit £145.5m following first full year in Scotland and buoyant disputes activity
Norton Rose Fulbright rings in revenue, profit rises
Europe, Middle East and Asia business hails fifth consecutive year of growth
US law firms ring in strong performance in first half
Top 50 firms fuelled average 11.4% rise in revenue according to Wells Fargo report
Addleshaws, CMS and DAC Beachcroft latest firms to post financial results
With revenue increases ranging from 5-12%, trio point to international investment
Pinsents grows turnover 7% to nearly £650m as PEP stays flat
PEP dips slightly to £793k after substantial gains over last three years
Shepherd and Wedderburn hands out firmwide bonus after profits grow 12%
Scottish firm’s profits hit £30.2m as revenue rises 7% to exceed £71m
Eversheds’ international arm posts 3% revenue rise against flat profits
Transatlantic firm unveils ‘solid’ results and points to investment in ‘people, infrastructure and technology’
Dentons UKIME revenue grows 6% to top £280m
Global giant points to growing cross-practice collaboration as turnover hits record high
Travers Smith rings in record results as PEP grows 18% to £1.3m
UK independent rebounds from FY23’s flat numbers as revenue pushes past £200m
Stewarts grows PEP 16% to £1.4m as revenue hits £95m
Disputes specialist reverses FY23’s turnover and profit dips
Bird & Bird hits double-digit revenue growth again as profit and PEP move higher
Turnover rose 10.2% to €632m, marginally lower than the 10.8% increase achieved in FY23
TLT posts double-digit revenue increase as UK firm continues national expansion plans
Turnover jumped 12% driven by growing domestic footprint and new partner hires
Clifford Chance posts record global revenue and profit growth amid ongoing US push
Revenue rose 9% to £2.3bn, spurred by soaring turnover in US
Macfarlanes sees jump in profits, revenue after dip in 2023
UK firm also sees improvement in PEP as transactional and litigation practices perform well
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