Allen & Overy results reveal £1.9 million earnings for equity partners

The practice increased pay for its top tier partners by 17 per cent in spite of the pandemic. It reported yesterday that revenue increased by five per cent to £1.77 billion, which generated pre-tax profits of £822m – up 19 per cent on the previous year.

The figures indicate a significant bounce for the firm, where average pay for full equity partners fell 1.7 per cent last year to £1.63m.

Gareth Price, the firm’s global managing partner, pointed out that it had not availed itself of government financial support during the lockdowns.