Just the ticket - lawyers getting careers back on track with bumper pay rises
The war for talent is helping to rip up the traditional barriers to progression to careers with the Top 200 UK law firms, and lawyers who make the move are securing some bumper pay rises in the process.
A lack of investment during the recession is fuelling the increasing demand for specialist skills, and decision makers are now discounting educational background and poor exam results in order to boost their team's fee earning capacity.
Recruitment Consultant Laura Shepherd recently helped a Solicitor make the move from a boutique London firm to a Top 50, Legal 500 and Chambers rated practice, and secured a 50% pay rise for her Real Estate specialist candidate. "Solicitors are getting a second chance to move up the ladder so forget about poor exam results or where you schooled - if you are tearing it up in your current firm then the top UK firms want to hear from you."
In the first half of 2015 candidates averaged a 15% increase in salary when making a move, but heads of many practice areas had to loosen the purse strings to land their lawyer:
- Industrial Disease Fee Earner +29% for move to specialist
- Clinical Negligence +32% for move to Top 100
- New Build Property Lawyers +35%
- Residential Conveyancing Department Heads +20% to average £60k in London boutiques
- Residential Conveyancers between 10 and 20% increase moving to specialists and boutiques
- Planning Lawyers +30%
- Costs Lawyers +30% with seniors to £58k demand across UK200 and specialists
- Experienced RTA paralegals +67% in some cases to circa £25k
Manchester based Associate Director Jon Paul has seen Solicitors with 3rd class degrees from non-Russell group universities making the move from regionals into the Top 100. "It may be an extreme example, but the opportunities are there for lawyers who have increased their stock by rolling their sleeves up and really nailing the role they are in. Decision makers in the Top 200 are now very responsive to this type of application."
If you are considering your options after 2 or 3 years plus with your current employer, then please contact one of our specialists recruitment consultants - you can find out who is best suited to your specialism and location on our people page, or contact your local branch.
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