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As the economic outlook for 2010 begins to improve, the question on many lawyers' lips is - are London firms hiring again?
The answer, according to recent reports, is yes. An estimated 2,133 people have been brought on board by the UK top 25 firms in 2009-10. UK firms contacted by ALB, meanwhile, have only confirmed selective hiring, but suggest that there are still opportunities available for Australian and other foreign lawyers in the near future.
"Business is picking up in most major financial centres and we are seeing selective hiring, including in London, to bring a specific mix of expertise and experience into the firm," said Claire Gosnell, global head of communications at Clifford Chance.
"[However], it is inevitable that the legal industry in London will again find itself looking for a more significant increase in resources and [in the past] this has led firms across London to draw on the legal talent pool in markets such as Australia."
Spokespeople from both Linklaters and Freshfields also confirmed that London firms are open to taking on Australian and other foreign lawyers, dependent on whether their specialisations match the firm's current needs.
"Australia is a strong market for us as a global firm for both graduates and lateral hires. We always look for the highest quality people with the right skills, and this talent often comes from the Australian market," said Claire Cherrington, head of London resourcing at Linklaters, for example.
However, it's not all plain sailing - Gosnell warns that impending changes to UK immigration rules could put a spanner in the works for foreign lawyers wanting to try their luck in London.
"The UK Government has been looking at immigration rules, including criteria that might affect opportunities for international lawyers working in the UK. While at present these do not present a barrier, they remain subject to future change."
As at 30 April, there were 14 UK jobs being advertised on legaljobscentre.com in areas ranging from litigation to project finance and at all PQE levels.
Private Practice Salaries - London vs Sydney
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London Firms
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PQE
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Large
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Medium
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Small
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NQ
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£60,000-£66,600
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£48,000-£64,000
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£35,000-£55,000
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1 year
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£63,500-£72,500
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£52,000-£66,000
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£40,000-£58,000
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2 years
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£66,000-£86,000
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£57,000-£70,000
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£45,000-£64,000
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|
3 years
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£75,000-£93,000
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£63,000-£74,000
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£48,000-£70,000
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4 years
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£86,000-£102,500
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£66,000-£78,000
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£52,000-£75,000
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5 years
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£87,000-£110,000
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£70,000-£85,000
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£55,000-£80,000
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Source: Taylor Root - UK private practice salary survey 2009-2010
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Sydney Firms
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Level
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Top-tier
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Mid-tier
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1 year
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$70,000-$80,000
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$60,000-$77,000
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2 years
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$80,000-$105,000
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$65,000-$90,000
|
|
3 years
|
$95,000-$110,000
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$75,000-$110,000
|
|
4 years *
|
$115,000-$140,000
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$85,000-$125,000
|
|
|
|
|
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5 years
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$130,000-$150,000
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$95,000-$145,000
|
|
|
|
|
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6 years
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$140,000-$190,000
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$110,000-$185,000
|
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7+ years
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$160,000+
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$160,000+
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* From this level upwards, the figures incorporate Senior Associate packages.
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All of the figures above include superannuation but do not include bonuses.
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Source: Taylor Root - Sydney private practice salary survey 2008-2009
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