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Linklaters’ top brass see earnings jump by 17% as profit pot hits £25 million

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Published accounts reveal eyewatering earnings

Senior management figures at magic circle player Linklaters divvied up a profit pot in excess of £25 million in 2018, a healthy uptick of 17% on the previous year.

Meanwhile, profits available to be split among partners for the financial year ending 30 April 2019 hit £519.3 million — a rise of 19% on last year’s figure of £437.7 million, according to accounts published by the firm this week.

The £25.3 million profit pot, up from £21.6 million in 2018, was shared between 13 members of the firms’ management committee, which includes partnership board chair Charlie Jacobs and managing partner Gideon Moore.

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The fresh financials also show the average number of partners dipped slightly, 310 to 307, resulting in a profit per equity partner (PEP) of £1.7 million. The number of lawyers at the firm increased by 2.5% from 2,487 to 2,549.

Staff salaries rose 7% from £642.3 million to £685.9 million.

Gideon Moore, firmwide managing partner, commented:

“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.”

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11 Comments

Anonymous

This is why we’re all here. Not sweating for the crumbs at Senior Associate, desperate to get enough for mortgage and school fees.

Charlie Jacobs went to Leicester. Must be unusual for any MC corporate partner, never mind his level.

Anon

Jacobs shows that you can be third rate intellectually and still do well as a City solicitor. With a degree from Leicester, he wouldn’t get a vac scheme now.

Reality Check

As a magic circle recruiter who’s given vac schemes & training contracts to Leicester grads you haven’t a clue what you’re on about.

Time to get back to your high street firm applications.

Weil NQ

As a “Magic Circle recruiter” doesn’t sound like you’ve done a very good job mate…

s.32 Salmon Act 1986

As a partner in a major US firm, having spent my whole career in the City (including at a Magic Circle firm) I have never (knowingly) met a lawyer who graduated from Leicester. Several recruiters, though…

Anonymous

Clients have been clear that they don’t want to pay for the increases.

Gideon Moore

Sorry, I thought this was about Associate pay… Totally in favour of this 🙂

Goodean Mire

Sorry I thought we were talking about associates pay 🙂

Anonymous

Clients have been clear that they don’t want to pay for the increases.

hhgguttt lsksks

not terribly unusual. The managing partner at my firm also went to that uni and pulled in north of £2.5m last year.

KDotL

Clients don’t have to pay if there are no increases. Foolproof!

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