London’s leading commercial law firms have reported sharp rises in partner earnings over the past financial year. Average profit per equity partner at major firms, including Linklaters LLP, A&O Shearman, Herbert Smith Freehills Kramer and Macfarlanes LLP, ranged from more than £1.5 million to more than £3 million during 2024/25. The upward trend was echoed at Clifford Chance, where newly filed Companies House accounts revealed the highest-paid partner received more than £7 million.
London-based law firm Macfarlanes LLP is the latest firm to announce its trainee retention figures, with 24 out of 28 final-seat trainees set to stay on after qualifying next month. This represents an 86% retention rate for 2025 – a 5% increase from the 81% recorded in 2024.