10% increase on last year
Magic Circle outfit Linklaters has crossed £2 billion revenue mark for the first time in its history.
The firm has recorded a revenue of £2.1 billion for the 2024 financial year, increasing income by 10% on the previous year.
With this comes the highest ever pre-tax profit at the firm, another 10% increase up to £942 million. Profit per equity partner (PEP) has also seen growth, climbing 8% up to £1.9 million.
The strongest performance came across the pond with Links’ US offices breaking records, delivering a 24% increase in revenue, whilst the UK contingent also topped its previous best.
Elsewhere the firm has hit its annual diversity targets of 40% female and 15% underrepresented minority ethnic newly elected partners whilst clocking 55,000 hours of pro-bono work around the globe.
Paul Lewis, Linklaters’ firmwide managing partner, commented: “Its been an exceptional year with record financial results and revenues exceeding £2bn for the first time. We’ve seen a strong performance across the firm, with M&A, complex restructurings, contentious mandates and energy transition-linked projects the biggest drivers of growth.”
“In what remain challenging markets for businesses, our corporate, bank, funds and financial investor clients continue to turn to our global platform on their biggest, cross-border mandates, like advising VW on its recent landmark US$5bn partnership with Rivian in the US,” Lewis continued. “These are the roles that have placed us top of league tables across the UK, Europe and Asia, as well as powering our UK and US offices to their best ever year.”
Linklaters is one of the largest trainee recruiters in capital, with the Legal Cheek Firms Most List 2024 showing that the firm takes on around 100 trainees each year. The firm recently increased the salaries of newly qualified associates to £150,000, matching the raises of its Magic Circle rivals, except for Slaughter and May, which has yet to increase.
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