Some years ago (pre Corona) someone on here (Laz?) argued this theory that over the course of a career, the average Magic Circle Partner will earn more than the average Premier League football player. Presumably tax rates and career length being the big equalisers. It was hotly debated but I don't remember what the conclusion was if there was one, and I cant find the thread.
Any thoughts?
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Which are you better at? Do that.
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It's a good question - average EPL salary is over £3m per year apparently. PEP at the MC firms sits around the £2m per year mark.
Assuming that an EPL footballer has a ~15-20 year career, you've got £45-60m. MC partner is looking at being a partner for a maximum of 25 years probably (with a few going on a bit longer). That gets you out around £50m.
Average earnings are roughly the same, but the 'best', most senior partners will pull more than average players (lockstep etc. boosting them over time) but the best EPL players will earn wayyyyy more than a partner.
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Will Packwood quit League football to join Goldman Sachs. So at least one player thought bumming around with Cheltenham Town was not the attraction of feral capitalism.
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I've already chosen law unfortunately.
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Unless you're at the top of the game, then it's going to be an MC partner by quite a way. The huge issue with CC's numbers isn't the salaries, it's the longevity assumption. 15-20 years for a Premier League player is overstepping it hugely except for the miniscule few. For most Premier League players, a big 4 year contract is probably the max they're going to be getting before the spells in the Championship/European leagues begin. Championship 600k odd average and the pay in France, Belgium, Portugal etc is going to be less again. Portugal Primeira Liga av salary is less than £400k.
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Christ
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Wilfred, you're right I think - I was v much basing my numbers on 'lifers' which are v few in number.
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footballers get the cash when they're 22 which is a hell of a lot more fun though
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'Fascinating, like Messi'
https://www.freshfields.com/en-gb/contacts/find-a-lawyer/v/van-aerssen-…
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How much does a MC partner make in image rights and appearance fees? I am guessing not quite as much as a Messi.
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I doubt the likes of Philip Billing or Matty Cash are creaming it in on image rights or appearance fees to be fair.
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A 10 year career at £60k a week is getting you £16m net. I expect an MC partner will end up with more through common sense and frugality as their £250per year excess cash will be wisely invested. You can get that level of cash putting away £10k per month at a reasonable low rate of return for 40 years and could be doing that largely tax free via SIPPs, ISAs and kids ISAs. A PL footballer will have stuck most of it in wasting assets or renting high end shit.
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And have been rinsed by his agents
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