This year saw the first decrease in average Global 100 profit per equity partner (PEP) in seven years, with that metric dropping half a percent to $1.59m.

As ever, the upper echelons of the PEP rankings are dominated by US law firms, with the magic circle still trailing their Stateside rivals by some way, despite strong performances from Allen & Overy and Clifford Chance.

An elite group of six US law firms now have PEP of more than $4m – Wachtell Lipton Rosen & Katz, Quinn Emmanuel Urquhart & Sullivan, Paul Weiss Rifkind Wharton & Garrison, Cravath Swaine & Moore, Kirkland & Ellis and Sullivan & Cromwell.