Legal Services

Allen & Overy partner pay nears £2m, but boss warns of ‘softening’ demand

Inflation and market rout threaten demand for legal services, Allen & Overy boss Gareth Price says, even as senior pay rises

'The softening we saw at the end of the last financial year is continuing'
'The softening we saw at the end of the last financial year is continuing' Photo: Alamy

Allen & Overy partners are set for an average payout of nearly £2m for the last financial year, but the firm warned demand for its services is slowing.

The Magic Circle law firm’s revenue rose 10% to £1.94bn in the year to 30 April 2022, with pre-tax profit up 9% to £900m, the firm said in a 14 July statement.

WSJ Logo