2006/2007 profit numbers are out for UK firms
If you are interested in this sort of thing, take a look at legaweek.com's 2006-07 results wiki special to see what the UK law firms are earning.
The important number is the PEP (profit per equity partner). The top earners will be earning more than the PEP, but this is a good indicator as it is averaged out over all equity partners.
While some of us refugees from big law will chuckle as we recall the intolerable personal and family burden incomes like these come with, those mediators who mediate with big firm partners at the table should use PEP in their home markets to inform their own pricing.
1 comment:
Graet post, Geoff.
I am intrigued on pricing - Are you advocating a layered pricing structure based on the partner you are dealing with or do you factor in the amount of dispute that you are doing?
Is there a danger if you go in at the earnings of the partner level that you can antagonise the partner because he feels that you are exploiting the senior level and his or her high level of earnings? Do you lose credibility if you do not pitch in high?
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