Freshfields Bruckhaus Deringer's highest-paid member took home £2.5m last year, a 7% decrease on the top figure of £2.7m paid out in 2010.

The figure, contained within the firm's recently filed limited liability partnership accounts, is understood to have been paid to a retired partner.

The sum marks the second consecutive annual decrease in the firm's top payout, after 2008-09′s highest-earning member received £3.3m.

The audited accounts include a final 2010-11 turnover figure of £1.116bn, 3.9% down on the 2009-10 total of £1.158bn, and also down on the figure of £1.14bn the fim reported in July last year.

The audited total means the firm took in marginally less than magic circle rival Allen & Overy (A&O) during 2010-11, after A&O's audited revenue for 2010-11 came in at £1.120bn.

Freshfields and A&O were placed 3rd and 4th respectively in last year's rankings, behind Clifford Chance in first and Linklaters second.

The accounts also show that Freshfields' total profit before partner annuities decreased by 17% from £524m in 2009-10 to £446m last year, with profit per equity partner (PEP) falling 7% as result, down to £1.308m.

Total salaries at the magic circle firm remained broadly steady, falling slightly from £394m to £389m in 2010-11, while back office staff numbers decreased from 2,062 in 2009-10 to 2,004.

The firm's average number of fee earners also remained static at 2,405 for 2010-11, compared with 2,404 in 2009-10.

In a statement contained within the accounts, Freshfields said: "The firm's performance for the year is considered satisfactory in view of the significant challenges faced across many markets. The forthcoming year is expected to be equally as difficult with continued market uncertainty."