Equity partners at Birmingham-based law firm Pinsent Masons are to get a 70 per cent 'pay rise'.
It follows a costs and efficiency drive intended to get more out of the business.
Average profit per equity partner has jumped to #400,000 against a virtually static #234,000 last year.
Pinsent Masons has more than 250 partners, although by no means all are equity - some are fixed share.
Headline-making deals and projects also went towards a good year with a solid 15 per cent rise in turnover.
The strong performance, which has seen turnover in the year to April 30 jump by #22 million to #172 million, has been accompanied by the winning of major accolades including Best Legal Adviser in the UK for PFI projects and Global Construction Law Firm of the Year.
In the Midlands, deals such as the #700 million sale of Doncasters Group to Dubai Investment Corporation and the #293 million sale by IMI of its Polypipe Building Products subsidiary were among the highlights in a year which has seen practice areas from corporate and banking to employment, construction and projects perform strongly.
Significant to the improved performance has been the drive, following the most recent merger in December 2004, which brought in Masons, to tighten internal management and achieve better cost control.
Some support staff went and some administrative work was outsourced.
"These ongoing improvements are directly reflected in an enhanced bottom line," noted the firm.
Pinsent Masons managing partner, David Ryan, said: "We have performed well across our practice groups and our core sector approach has given us an edge in areas where we have a concentration of experience and expertise, helping us to win new clients.
"It has been a real team effort behind the scenes in the past 18 months to get our costs under control and to tighten up operationally in all areas of our business. This has enabled
us to realise more benefit from the business we already had. The success of this exercise can be seen in our year-end figures. We are now much sharper operationally and will continue to seek improvements."
Among the clients won by the firm in the past year are: Advantage West Midlands, BT, Lloyds TSB Group, London & Associated Properties, London Development Agency, London School of Economics, Nestle, the Rugby Football League, University of London and Vodafone.
Birmingham managing partner, Greg Lowson, said: "Our Midlands teams have played a major part in the firm's strong overall performance.
"We are a recognised major force regionally in areas such as banking, corporate, competition, dispute resolution, property, PFI and employment. Post merger, we have seen how attractive our international capability is to clients with our presence in Asia-Pacific proving a great draw for Midlands businesses keen to ride the tide of growing interest in China.
"We can point to great successes in the year for corporate with the Doncasters and IMI deals; in property with our appointment to Advantage West Midlands' panel and involvement in major regional regeneration schemes including the #200 million Riverside Housing Association PFI in Sandwell and for English Partnerships on the #100 million Oakington Barracks acquisition from the Ministry of Defence.
"Our projects team has advised on the #690 million University Hospital Birmingham NHS Foundation Trust and Birmingham & Solihull Mental Health NHS Trust PFI scheme to build a new super hospital on the site of the Queen Elizabeth Hospital, and on a #74 million schools PFI project with Birmingham City Council.
"We also have one of the country's leading universities practices, which is led from Birmingham. In the past year the team, headed by Nicky Hart, has won a series of new clients including University of London and London School of Economics. Our competition team is pre-eminent in the region and is involved in a series of high profile cartel and Office of Fair Trading investigations, work which no other regional firm is doing.
"This kind of performance and dynamism is good for the economic lifeblood of the Midlands and helps us to attract talented people to our ranks such as David Stevenson, one of the Midlands' corporate finance heavy hitters who has recently joined us from Eversheds. Appointments such as his underscore the quality of our business and our commitment to the region."
Pinsent Masons has more than 1,500 staff in the UK and internationally.
In Birmingham, Pinsent Masons employs 400 people, almost half of whom are lawyers.
Birmingham is the firm's largest office after London.