Freshfields Bruckhaus Deringer's highest-earning partner took home nearly 20% less during 2009-10 than the previous financial year.

The figure, contained in the firm's limited liability partnership accounts recently filed with Companies House, shows the firm's top-earner took home £2.7m last year – more than 18% less than the equivalent £3.3m figure in 2008-09.

The figure includes retirement payments as well as the standard profit share.

The decrease comes against an overall drop in average profits per equity partner (PEP) at the firm of 2.6% to £1.4m during 2009-10.

The LLP accounts show staff costs remained relatively static at £487m – an increase of just 1.2% on the previous year's figure of £481m. However, the increase in staff costs came alongside an 8.9% reduction in the average total number of staff to 4,466, down from the figure of 4,901 recorded in 2008-09.

Breaking down the staff figures, total legal advisers fell by 190 during 2009-10, a 7% drop to 2,404, while administrative staff headcount dropped by 245 to 2,062 – a 11% fall on 2008-09′s figure.

Over the year Freshfields' operating profit fell by 28% to £370.9m, while net funds increased by 4.1% to £153.1m, up from £147m in 2008-09.

The accounts also show a sharp fall in the profits available for members last year, partly attributable to a £103m provision to cover rising pension obligations for the firm's current partners.

Profits available for partners fell by just under 50% from £523.1m in 2008-09 to £264.7m. However, this was largely influenced by accounting for pension liabilities that will be paid out from future profits.

The change in the firm's provision for annuities for current and retired partners increased from £556.4m at 1 May 2009 to £786.3m on 30 April 2010.

Underlying profitability for the year was relatively stable at £523.6m, before accounting for the movement in partner annuities.