Mills & Reeve celebrates year of record turnover and highest all-staff bonus

Mills & Reeve has announced a record turnover of £168million for 2023-24 - up 14.1 per cent - which has enabled it to share its highest bonus yet to staff.

The law firm, which has offices at Cambridge’s Botanic House, said its fees grew by 14.6 per cent, which meant it has surpassed ambitious targets it set for 2025 a year in advance.

A bonus pot of £3million was shared out, meaning staff received between £2,420 and £2,783 depending on length of service.

Managing partner Claire Clarke said: "Our growth is a direct result of the hard work and dedication of everyone at Mills & Reeve. We believe in rewarding our staff for their contributions, and I’m thrilled to announce this record bonus as a token of our appreciation.

“It’s been a year of significant strategic investments, including the addition of 22 new partners to the firm and a new Birmingham office. These developments not only contribute to the firm's growth but also reinforce our commitment to providing an exceptional environment for our people.

“As we look to the future, we remain dedicated to enhancing our systems and technology while making sure crucial issues such as sustainability and wellbeing remain at the top of the agenda, ensuring we remain a true leader in the legal marketplace.”

The law firm has confirmed 22 new partners in the last year - a mixture of lateral hires and internal promotions.

It increased its maternity and paternity pay in the last year and was listed in the Sunday Times Best Places to Work list for the first time as one of the best big organisations, adding to its Platinum Investors in People accolade.

Mills & Reeve was also recognised within the professional services sector as one of only 15 per cent of firms who are considered at an advanced stage of client feedback, with an 89 per cent client recommendation score.

It has also been trialling generative AI for contract analysis and drafting.

Other milestones for the law firm around in the country have included:

- Moving its Birmingham office to One Centenary Way, one of the city’s most sustainable and SMART buildings;
- Preparing to double its footprint in Leeds, where headcount is rising by 25 per cent; and
- Teaming up with client Albanwise Environment on the first step in a first of its kind partnership to transform a difficult-to-cultivate area of floodplain into a biodiverse wetland.