Posted in News on 14 Jul 2014
We recently compared salary differences for over 100 Property Lawyers placed during the last six months of 2013 and the first six months of 2014. We discovered that Residential Conveyancers are now at such a premium that they are gaining an average 8% salary increase if they move jobs in the current climate compared to a drop of 11% during the six month period to December 31st 2013.
One candidate within the last six months secured a pay rise of 60% whereas while salaries were dropping by an average 11% in 2013 some candidates took pay cuts of up to 50% as they were forced to find alternative employment.
Director, Jonathan Nolan (a Residential Conveyancer himself in the past), commented “we have noted salary increases across all levels with the biggest difference amongst Property Lawyers in the £20k to £26k range. In many instances within this group particularly in the South East region we have secured salary increases of up to £12k.”
The Residential Conveyancing market has bounced back after a near wipe out during the recession that followed the property crash in 2008. Douglas Scott Legal Recruitment recently reported an average 150% year on year increase in demand for Fee Earners across all regions. Nolan concluded “in research we carried out for our recently published 2014 Salary and Benefits Bench Marker we discovered that 30% of Property Lawyers cited redundancy as the main reason they moved jobs in 2013 compared to 17% across all practice areas. We expect money and progression to be the main reason they move this year and it is nice to see the tide has turned”.
If you have been affected by anything you have read in this article please contact your nearest office of legal recruitment experts to talk about how the demand could influence your next career or business decision.
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