Profit-per-equity partner is on the rise for sole practitioners, with a survey finding it had exceeded that of two to four partner firms for the first time.
The data showed average PEP at two to four partner firms was £80,000 in 2018, while sole practitioners averaged £87,000 in the same year.
Profitability at small firms was revealed to be under considerable pressure, as firms with five to ten partners averaged £139,000 – some £60,000 more than the smallest firms.
Furthermore, 11-25 partner firms have a PEP which is double that of two to four partner firms.
However, the Legal Benchmarking report, by accountancy and business consultancy MHA, argued: “There is still room in...
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