City lawyers are raking it in to the tune of £2.5 million each despite the credit crunch.

While the rest of London battles with rising fuel, food and travel costs, the high flyers seem untouchable.

Slaughter and May

Top firm Slaughter and May made its partners £2.4m according to research by Legal Business magazine.

Newly qualified lawyers are now hitting an average of £100,000 - the UK average is merely £23,750.

Profits soar

Firms profits hit £4.73 billion, up 13% while customers were billed £13.96bn, up 14%.

Jim Baxter, editor of Legal Business, put the record numbers down to London's overseas competitiveness.

The parties over

However, it seems the end is neigh as firms try to steady the ship for an expected full blown recession. Six figure salaries could be at an end and redundancies are expected, said Baxter. He warned, the party is over.