More than half of the UK’s top lawyers think average profits per equity partner (PEP) figures released by top law firms are unreliable, according to new research.
This week’s Legal Week/EJ Legal Big Question survey found that just over half (51%) of lawyers believe the PEP figure released by firms that are not limited liability partnerships (LLPs) are unreliable. Thirteen percent said the figures were ‘very unreliable’ and a further 38% said they were ‘pretty unreliable’. No-one said the figures were ‘very reliable’. Eighty-two percent said the PEP figures released by LLP firms were ‘more reliable’.
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