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Travers Smith PEP hits £1m

Travers Smith’s average profit per equity partner has reached £1m for the first time, while revenue has jumped 13 per cent.

The 2015/16 financial year marks the seventh consecutive year of growth for the firm, with PEP increasing 8 per cent from £935,000 to £1.015m and revenue rising from £106m to £120m.

Revenue and PEP jump

Since 2009/10, Travers Smith has seen revenue increase by nearly 40 per cent from £72m, while PEP has jumped by the same percentage from £705,000.

Promotions and pay

Travers Smith made up six lawyers to its partnership this year in a larger than usual round. The firm also recently upped its associate pay, with newly-qualified lawyers now earning £71,500.