The highest paid partner at magic circle law firm Clifford Chance raked in nearly £5m last year following a jump in profits.
The top earner’s pay packet leapt to £4.9million in the year to the end of April 2022 from £3.2million in 2021, according to accounts filed with Companies House.
The increase came as Clifford Chance posted pre-tax profits for the period of £812million, up from £692million the previous year.
Pay rises: Magic circle law firm Clifford Chance Clifford Chance posted pre-tax profits for the period of £812m, up from £692m the previous year
In total, the law firm’s 14-person leadership team took home a total of £34million, £6million more than in 2021.
The bumper payday came after the international law firm reported in July that average partner pay had broken the £2million barrier.
The performance followed a boom in deal-making for the sector during the year, sparked by a rebound in demand following the pandemic.
But Clifford Chance said that business activity had returned ‘broadly’ to historical levels in the second half as the economic outlook began to darken.
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