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June 19, 2010

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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.



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