Will Magic Circle firms learn from the Americans?

Figures show that 74 of the highest-earning law firms in the world are American, with more than 60 having a London office. Recent research reveals that three of the five highest-earning legal practices for UK corporate work were American. Kirkland & Ellis and Latham & Watkins are the two biggest-earning law firms for UK corporate instructions, surpassing their nearest English rival, Linklaters. American law firms are also paying their lawyers significantly more than their UK counterparts. The Times’ Jonathan Ames says that far from being an adjunct to top-end legal advice – the US firms are Americanising legal practice in the City, with some independent experts suggesting they are punishing English practices for rewarding partners for length of service over performance.