The pandemic has not unduly hit the results of the Magic Circle law firms, with both Allen & Overy and Linklaters showing good - if not spectacular - results in the face of the COVID-19 pandemic. Yet the overall results show a remarkably robust reaction to the pandemic by the major law firms. Linklaters confirmed its revenues for the 2019/20 year as up by 0.7 per cent, … [Read more...]
Linklaters’ Good Year
PEP Talk - How Did Linklaters Outpace Its Magic Circle Rivals? Linkaters has had a good year, with its strongest financial performance of the Magic Circle firms, showing revenues up to £1.63 billion, and profits per equity partner (PEP) up 10 per cent to £1.7 million in 2018/19 Legal Business reported that the firm saw pre-tax profits rise by 11 per cent to over £750 million, … [Read more...]
Shearman’s Put The “Sterling” Back Into London Pay Rates
The battle for the newly qualified lawyers in London continues with US-based Shearman & Sterling lifting its salaries by 14 per cent to £120,000. The hot competition for NQs in London has been driven by the major US law firms, but increasingly the Magic Circle firms have had to lift their offerings to compete, the latest being Freshfields' salary hike. For Shearman, … [Read more...]
Magic Pay For Magic Circle Partners
The reporting season for London's Magic Circle firms has started with some mouth-watering figures emerging, lead by Freshfields' partner pay packets. So what are the numbers? Leading the field with profit per equity partner (PEP) are Freshfields - £1.73 million Allen & Overy - £1.64 million Clifford Chance - £1.6 million. All firms displayed revenue increases, … [Read more...]
