1000 lawyers earn £1M

Posted By: James

Tuesday 2nd September 2014

Figures compiled by Legal Business show the number of lawyers earning more than £1m has exceeded a thousand for the first time, thanks in part to the revival of the M&A market. At Slaughter and May 119 partners were paid an average of just over £2m last year, with one partner picking up £2.8m. Partners at second- and third-tier law firms have also seen their pay increase significantly, with the 41 partners of Winckworth Sherwood - one of the main advisers on the HS2 high-speed rail project - having their pay rise by 44% in the latest financial year, to £742,000. The combined income of Britain's 100 top firms has also reached new heights, with total revenue in the past 12 months exceeding £20bn. "The London legal market is phenomenally successful. Only New York can currently rival the City," said Legal Business editor-in-chief Alex Novarese.

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