Lawyers looking to do a stint in the UK may do well to choose their firm carefully – as a new study suggests national and local UK firms pay significantly less than international firms (excluding US founded international firms).
The Two Steps Salary Survey 2010 shows lawyers across all levels were paid significantly more at non US international firms, such as Allen & Overy, Linklaters and Clifford Chance. The starting salary for a first year lawyer at such firms was £55,000 a year, while at a local or national firm remuneration for a first year lawyer could be below £35,000 reaching a maximum of £50,000.
The pay differences between lawyers at those firms continued to increase as they progressed through their careers. While a fifth year lawyer at an international non-US firm earned between £75,000 and £96,000, an equivalent lawyer at the national or local firms could only earn up to £75,000 and £53,000 respectively.
For those lawyers earning between £50,000 and £60,000 the average working week was 50 hours. However, most believed they were not paid enough and most were not given a bonus. Those who did receive a bonus in the past year were given between one and 10%.
About half of all respondents in the £60,000 to £70,000 bracket were local or national firm lawyers with more than nine years experience, while the other half were international firm lawyers with two to four years experience. Those working at international firms worked an extra 10 to 20 hours a week compared to their national and local counterparts.
90% of lawyer surveyed earning between £70,000 and £95,000 were working at an international non-US firm. Average working week for this group was well below lower salary bands at 45 hours.
Lawyers across all pay brackets received in excess of 20 days holiday leave, which is the standard provision in Australia, with the majority receiving between 25 and 28.
The Two Steps survey included more than 500 lawyers across Australia, Belgium, Germany, New Zealand, the UK and the USA. Nearly 40% were from the UK.
International law firms (excluding US firms)
|
Level
|
Minimum - Maximum
|
Average
|
|
1 year PQE
|
55,000 – 67,000
|
61,000
|
|
2 year PQE
|
60,000 – 72,000
|
66,000
|
|
3 year PQE
|
65,000 – 83,000
|
74,000
|
|
4 year PQE
|
65,000 – 90,000
|
77,500
|
|
5 year PQE
|
75,000 – 96,000
|
85,500
|
National law firms
|
Level
|
Minimum - Maximum
|
Average
|
|
1 year PQE
|
35,000 – 50,000
|
42,500
|
|
2 year PQE
|
45,000 – 65,000
|
55,000
|
|
3 year PQE
|
50,000 – 67,000
|
58,500
|
|
4 year PQE
|
50,000 – 72,000
|
61,000
|
|
5 year PQE
|
55,000 – 75,000
|
65,000
|
Local law firms
|
Level
|
Minimum - Maximum
|
Average
|
|
1 year PQE
|
Under 35,000 – 35,000
|
30,000
|
|
2 year PQE
|
35,000 – 40,000
|
37,500
|
|
3 year PQE
|
40,000 – 45,000
|
42,500
|
|
4 year PQE
|
45,000 – 50,000
|
47,500
|
|
5 year PQE
|
45,000 – 53,000
|
49,000
|
· All figures in British Pounds