UK Law Firms in London
Senior Associates are generally made partners anywhere from 7 years' pqe onwards. This will vary depending upon the partnership structure, whether it is an all equity partnership or fixed share/equity partnership. If it is all equity partnership the level of pqe is generally more like 9-10 years.
Magic Circle Firms
The Magic Circle firms have both structures; some have all equity partnerships and others have fixed share/equity. It is rare for these forms to hire in expertise at this level.
Large/Medium-sized UK Firms
Historically, recruiting at this level has been a focus for quite a few of the large/medium-sized UK firms in London. By hiring associates in on a clear promise the firms have hored some excellent lawyers.
In today's market, however, these roles are few and far between and when they arise, firms are able to hire superb lawyers often from the Magic Circle or US equivalent.