The Times report that about 200 lawyers in the City of London will earn over £1 million this year, primarily due to a considerable rise in the amount of corporate takeover work being undertaken.
At Slaughter and May, partners will earn about £1.5 million on average, with some earning as much as £2 million. At Clifford Chance dozens of partners will each earn an average of £1 million, a record for the firm. Partners at Linklaters are expected to earn an average of £1.2 million this year. Over 20 partners at Allen & Overy will also hit the £1 million barrier.
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