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June 19,2010
UK Law Firms by Revenue and Type The UK legal market is carved up into firms that can be grouped into four broad categories: The Magic Circle, The Silver Circle, International Firms and UK National Firms.
Whilst revenue volume, strategy and client base define a firm's position in the market, employees should also be interested in PEP.
However, PEP can overestimate margins and remuneration for firms with a high number of nonequity partners.
There is little correlation between the size of firm and profitability. The exception to this is the Magic Circle, who proudly maintain both.