Lawyers take home some of the highest starting salaries in the country. While money shouldn’t be your biggest motivating factor, it’s nice to know that all the hard work and long hours you’ve put in to qualify as a lawyer or solicitor will pay off.
how much do trainee lawyers charge?
technically there is no official minimum wage for barristers in training, however the bar society recommends a minimum of £22,794 for those training in london and £20,217 for trainees elsewhere of the country.
Reading: Average pay for a lawyer
In reality, trainee solicitor salaries vary across the UK and your location is one of the biggest factors affecting what you’ll earn.
London companies often pay apprentices above the recommended minimum. for example, the magic circle -composed by allen & Overy, Clifford Chance, Freshfield Bruckhaus Deringer, Linklaters and Slaughter and May: London’s five most prestigious law firms currently offer salaries for first-year trainees in the region of £47,0500 to £50,000. once apprentices reach their second year, salaries increase to between £53,000 and £55,000.
However, they are US-based companies. uu. (normally located in london) the ones that pay the most impressive salaries. eg white & the case pays first-year trainee solicitors £52,000. this figure rises to £57,000 in the second year. Kirkland and Ellis and Shearman and Sterling pay their first year apprentices £50,000, rising to £55,000 in the second year.
while companies outside the capital tend to pay less, their payment packages should not be dismissed. salaries for first-year trainees at regional law firms range from £20,000 to £40,000. commercial companies typically offer training salaries of between £20,000 and £30,000.
wages for apprentices in scotland are generally lower than in the rest of the uk: the rate recommended by the law society of scotland is £20,500 for first year apprentices and £23,750 for second year apprentices year. for more information see solicitor, scotland.
Training lawyers are expected to work long, grueling hours, and at the start of their training contract, client contact will be minimal and most of their duties will be administrative. qualifying as a lawyer is a long process and the training contract is the last hurdle. as such, many apprentices, especially those in city or magic circle companies, are rewarded with high salaries. read more about the reality of work in law.
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look for law training contracts.
The current stipulated minimum award for student barristers (those who complete a year of apprenticeship in accordance with the bar standards board (bsb)) is £19,144 for students in london and £17,152 for those outside the bar. capital. however, cameras can pay more than this. For example, Blackstone Chambers offers ward awards of £70,000, while an Essex court offers £75,000 on the second six.
how much are lawyers salaries after qualifying?
As a Newly Qualified Attorney (nq), you are likely to enjoy a significant increase in your earnings.
Unsurprisingly, newly qualified magic circle attorneys take home some of the highest salaries. allen & overy nqs earns £107,000 a year. linklaters and carnage and can top this at £107,500, while clifford chance pays £125,000.
firms based in the us. uu. they also offer high compensation packages to their newly qualified attorneys:
- kirkland & ellis pays his newly qualified London-based solicitors £148,920.
- latham & watkins is offering newly qualified solicitors £151,739.
- white & case pay newly qualified lawyers £140,000.
In addition to higher salaries, working for an international company opens up opportunities to travel and work abroad.
Working at a city company, your work-life balance may be compromised, but your salary will surely reflect your hard work. for example:
- ashurst – £105,000
- cms – £95,000 (london), £62,000 (bristol), £51,750 (manchester and sheffield)
- dentons – £80,000,
- hogan lovells – £100,000
- norton rose fulbright – £107,500
- rpc – £70,000.
You can expect these numbers to increase year over year as you gain post-qualified experience (pqe). if you become a partner in a company, your salary could exceed £150,000.
for more information on magic circle, companies based in usa and cities, check out the top law firms in the uk.
You’ll earn less in other parts of the country and at smaller companies, but you’ll probably move up faster and have more responsibility early in your career. Salaries for newly qualified solicitors in the rest of the UK range from £28,000 to £61,000.
As a newly qualified solicitor in Scotland, you can expect to be paid around £30,000 rising to £38,000, depending on your area of private practice or if you are working from home. this can increase to between £36,000 and £62,000 after three years of experience, depending on your area of expertise.
Lawyers’ earnings vary widely. qualified solicitors can take home between £50,000 and £200,000.
what areas of law pay the most?
Along with your geographic location, the area of law you choose to specialize in can have a huge impact on your income.
You will find the highest salaries in practice areas that deal with high-profile companies on a national and international scale, such as commercial, corporate and EU law.
At the other end of the scale, more personal legal areas are less likely to command high salaries, as are lawyers working more local cases at major law firms. personal and family injury attorneys are two types of law that fall into this group.
However, regardless of the specialty you choose, legal sector employees enjoy some of the highest salaries in the country, with many firms offering bonuses and generous pay raises, as well as benefits such as health insurance, gym memberships and travel. subsidies.
And remember, while it’s tempting to let salary information dictate your career choices, don’t let the numbers keep you from pursuing an area of law that you’re truly passionate about.
Money is not everything and there are many other things to consider when planning your career as a lawyer. for example, weighing up which qualification path is right for you, which areas of law are of interest to you, which type of company is most suitable, and which type of work culture you would like to be part of (working hours, job/work balance). life, etc).
- Discover how to become a lawyer.
- Learn more about the skills you’ll need for a successful career in law.