The lawyers who are partners in the biggest business law firms on the Romanian market last year registered an average profit worth 689,000 euros, reveals a ZF survey that takes into account the profits reported by five of the biggest firms on the market, according to their annual tax filings.
Thus, Tuca Zbarcea & Asociatii, Musat & Asociatii, Stoica & Asociatii, Voicu & Filipescu and Zamfirescu Racoti Predoiu firms posted cumulated profit worth 30.3m euros, which was divided between the 44 partner lawyers, also mentioned in statements.
The partners, also called equity partners, get a certain share of the firm's profit, while the rest of lawyers have fixed wages and bonuses, depending on their performance.
The five firms have a total number of 248 lawyers, according to the data published on the website of the Bucharest Bar Association. The monthly income of a junior lawyer stands at about 1,000 euros, while a lawyer with a 2-3 years' experience may earn 2,500-3,000 euros per month, according to existing data.
On the other hand, the partners whose names are found in the names of law firms are considered to be main partners, and their annual incomes can go beyond one million euros. At the same time, the profit of associated partners of the biggest London law firms, Clifford Chance and Linklaters, amounted to 1.3-1.4m pounds in the last ended fiscal year.
ZF got income information from other firms on the market as well, but they chose not to disclose profit data.
Profit per partner derived by the five firms included in the survey was 40% bigger than the average profits generated in 2007 by the partners of NNDKP, Musat, Tuca Zbarcea, Popoviciu Nitu, Schoenherr and RTPR (which disclosed the data last year), that is 500,000 euros.
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