Shoosmiths smashes £1m PEP milestone - hands out £3.5m in bonuses

Shoosmiths has smashed through the £1 million profit per equity partner (PEP) mark for the first time after posting a bumper set of results for FY25.

PEP surged 30% to reach seven figures, while net profit climbed 16% to £76.6 million. Revenue rose 5% to £217.2 million.

To mark the milestone, the firm is handing out a £3.5 million bonus pool to its 1,300 eligible staff - equal to 5% of salaries next month.

Behind the numbers

It was a record year for the firm’s corporate team, which closed over £10.4 billion in deals. Shoosmiths’ VC group also topped PitchBook’s UK rankings and came second in Europe for deal volume. The litigation, real estate, energy and infrastructure, financial services, mobility and tech teams all had strong showings too.

The firm has added 17 new partners since April 2024, including a duo of IP partners from Locke Lord and three lateral moves from BCLP.

Tech and AI adoption is a key focus. In April, the firm made headlines when it announced the launch of a £1 million bonus pool for staff if they collectively hit one million Microsoft Copilot prompts - a legal industry first.

What they said

David Jackson, Shoosmiths CEO, said: "I’m so proud that the hard work and dedication of our people has translated into fantastic outcomes for our clients and an amazing financial performance for our firm.

"These results give us a strong platform, but we see them as a starting point, not a finish line. Our focus is on deepening our presence in the markets that matter most to our clients, here and increasingly abroad, scaling our capabilities with purpose, and continuing to challenge ourselves to deliver work that makes a difference".