Overall legal salaries are up 2.4% year-on-year in London, according to results from the Robert Walters 2012 Salary Survey released this week.
Within London, the Survey also highlights that in-house salaries are currently growing faster than in private practice. Permanent pay rose for both in-house commerce & industry (4.1%) and financial services (2.5%) year-on-year, while private practice salaries increased by 1.6%. Contract rates followed similar trends – contractor pay for in-house lawyers rose 2.8% in commerce and industry and 2.2% in financial services, whileprivate practic contract rates fell by 0.2%.
Colin Loth, Director of Legal Recruitment at Robert Walters, says: “Despite uncertain market conditions, the legal jobs market has been steadily improving over the past year and this is reflected in the fact that salaries are continuing to rise.
“Within private practice, we are seeing consistent demand for junior level associates at the 2 - 4 years’ PQE level in finance-related roles. At this level, the best professionals are receiving notable salary increases when moving roles. Contract rates are also on the rise in some key areas. For example, documentation review specialists can now expect £35-40 an hour compared to £25-30 an hour a year ago.”
“Consistent demand from IT and technology, energy, telecommunications and pharmaceutical businesses for lawyers has prompted the increases evident in commerce & industry. As always, these companies are seeking strong commercial lawyers with excellent business facilitation skills – it is these professionals who are receiving the largest increases when moving roles.”
View summary of all key findings or find out what you’re worth by downloading the full Robert Walters Salary Survey or the Robert Walters Salary Checker app for iPhone and iPad.
About the Robert Walters Salary Survey 2012
The Robert Walters Salary Survey 2012 is a review of recruitment and pay trends across each of the 23 countries that the firm operates in globally. These figures are based on the difference between the average salary figures for each of the roles we have recruited for in 2010 and 2011.
About Robert Walters
Robert Walters is one of the leading international recruitment consultancies, with a network of 48 offices spanning 23 countries, including the United Kingdom, Ireland, Continental Europe, the United States, Australia, New Zealand, Asia, South Africa and South America.
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