17 May 2007
About 200 City lawyers are expected to earn more than £1m this year, according to a report in The Times
The astronomical earnings reflect an increase in mergers and acquisition work. Clifford Chance is expected to break the £1m profits per partner barrier for the first time, while Slaughter and May’s 120 partners will average about £1.5m, with some partners achieving £2m. Linklaters is likely to see average partner profits rise to about £1.2m, while Allen & Overy partners will average £800,000 with about 20 partners earning £1m or more.
