Freshfields has just announced the promotion of 16 new partners. Five of them are in London, four of whom trained at the firm.
The overall number made up is broadly on a par with last year's 17. But in 2015 only three partners were appointed in London, one of whom was a lateral hire, so this is movement in the right direction for those at the firm's head office.
Even with the uplift on last year's figures it's no mean feat for the successful four, who would have started as trainees in a cohort of around 110. The odds of making it from cradle to grave at Freshfields are pretty much up there with Adam Johnson being signed by Newcastle. And the firm has an up-or-out policy, so those who didn't make the cut will now have a few months to pack up their pot plant and deal tombstones
The new partners will find now themselves earning around £750,000 p.a. for starters, second only to Slaughter and May in the pay stakes. Although more lowly staff lament the sacrifices made to support these stellar profits: Freshfields came bottom of the Magic Circle in every single category in RollOnFriday's Firm of the Year 2016, with associates lamenting that partners"just don't let us sleep" and "seem oblivious to morale".
Edward Braham, Senior Partner, said "it gives us great pleasure to welcome these talented individuals to the partnership. Their outstanding qualities will help us strengthen our market-leading offering and continue to enhance our global business."
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The overall number made up is broadly on a par with last year's 17. But in 2015 only three partners were appointed in London, one of whom was a lateral hire, so this is movement in the right direction for those at the firm's head office.
Even with the uplift on last year's figures it's no mean feat for the successful four, who would have started as trainees in a cohort of around 110. The odds of making it from cradle to grave at Freshfields are pretty much up there with Adam Johnson being signed by Newcastle. And the firm has an up-or-out policy, so those who didn't make the cut will now have a few months to pack up their pot plant and deal tombstones
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The other 96.3% of the intake |
The new partners will find now themselves earning around £750,000 p.a. for starters, second only to Slaughter and May in the pay stakes. Although more lowly staff lament the sacrifices made to support these stellar profits: Freshfields came bottom of the Magic Circle in every single category in RollOnFriday's Firm of the Year 2016, with associates lamenting that partners"just don't let us sleep" and "seem oblivious to morale".
Edward Braham, Senior Partner, said "it gives us great pleasure to welcome these talented individuals to the partnership. Their outstanding qualities will help us strengthen our market-leading offering and continue to enhance our global business."
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Trainee intake is 80 now. Used to be 110 when these partners were taken on.
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