Macfarlanes top earning partner's pay jumps 33%
City firm's most highly paid partner took home just over £2m in 2014-15, one third more than in the previous year
December 07, 2015 at 07:03 PM
2 minute read
Macfarlanes top earning partner took home £2.042m in 2014-15, 33% higher than the top earning partner the previous year, its latest set of accounts reveal.
In 2013-14 the highest earning partner took home £1.53m.
The firm previously announced average profit per equity partner of £1.53m in 2014-15 and £1.2m in 2013-14.
In its latest accounts for the year to 30 April 2015, filed at Companies House, the firm reported revenue of £156.5m last financial year, up 17% from £134.4m the year before.
Macfarlanes also reported a pre-tax profit of £91.4m, up 27% from £71.8m in 2013-14.
The firm's staff costs rose to £43.8m in 2014-15, up from £37.1m the previous year, while its other operating expenses fell to £22.5m from £29m in 2013-14.
The firm had an average of 81 partners over the course of the year, compared to 78 in 2013-14.
Its total professional staff also grew to 312 from 273 the preceding year. Its support staff numbers also increased to 206, up from 192.
Macfarlanes reported a pension scheme deficit of £2.3m, compared to £1.22m the preceding year. This marked the largest pension deficit it has reported in the last five years.
The firm's lawyers recorded 3,200 pro bono hours in 2014-15, up from 2,600 hours in 2013-14.
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