Partners at Linklaters enjoyed significantly larger pay awards this year, while the magic circle firm’s management team was paid 17% more than in 2018.
According to the firm’s annual report, profit available to be divided among partners grew by 19% to £519.3m for the year ended 30 April 2019, compared to £437.7m in 2018. The average number of partners also fell slightly, from 310 to 307.
As a result, profit per equity partner stands at £1.7m, up 10.5% on last year.
Meanwhile, 13 ‘key management personnel’ received a £25.3m share of the profits, up from £21.6m in 2018. The cost of staff salaries also rose by 7% from £642.3m to £685.9m.
During the last financial year, revenue at Linklaters rose by 7% to £1.63bn and pre-tax profit stands at £751.6m.
Gideon Moore, Linklaters’ firmwide managing partner, said: ‘The firm has performed strongly again this year, achieving a 7% increase in income. Our performance has been driven by the efforts of our people, our deep client relationships and our sector focus and we have played significant roles in many of the largest global deals over the last 12 months.’