updated on 20 January 2023
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Companies House records show that magic circle firm Clifford Chance’s top-paid partner saw a 58% rise in earnings in 2022, receiving £4.94 million in the year to April. This is more than double the average partner pay at the firm.
The news comes after a record-breaking year for the firm, with an annual turnover of £1.7 million, the highest ever recorded by the business. Profits before tax also rose for the year to April 2022 to £812 million – 17.2% higher than the previous year.
The firm’s UK headquarters, based in London’s Canary Wharf, brought in £687 million of the total revenue alone.
As well as monetary growth, the firm also saw a 2.8% rise in headcount across 2022, including 563 partners, 2,452 associates and other fee earners and 636 trainees, across 30 offices in 22 countries.
According to the Law Gazette, a statement made by the firm to its members attributed its profitable year to how it “successfully negotiated both the return to office-based working and subsequent lockdowns, notably in Asia-Pacific”.