New lawyers, listen up: you have a great amount of control over how much you make as you begin your career. Practicing law is a time-honored tradition, but who said tradition doesn’t pay? Salaries for new layers are on the rise, but it really does depend on where you live. So, with that “big catch” out of the way, which specialties and locations bring the biggest salaries?
We’re glad you asked? See, we found out that BCL Legal Recruitment came out with a new report about this very subject. If you’re out of the loop, this is truly one of the UK’s most established consultancies focused on recruitment in the legal profession.
Here’s some surprising insights.
Expecting to really bring home a good salary? Shift your focus over from general practice to commercial practice. Who said big business wasn’t a good thing? Maybe that’s a bit of a stretch, but if you focus on a specific niche in the legal field, you’ll command a larger salary.
The salary can range dramatically when we start narrowing down on location. For example, if you were to go into commercial practice in London, you could make anywhere between 35,000 and 101,000 pounds a year, with an average around 65,000.
Lawyers starting out in North West, Yorkshire or South West don’t have it nearly as good, unfortunately: the starting is around 35,000 and averages roughly 39,000 after all salaries are considered.
While most of the UK lawyers look forward to a 2,000 pound raise a year, London newbies can look forward to a 5,000 pound raise every year.
General practice is the great equalizer, as salaries don’t vary too wildly. However, the starting salary can be dismal at just 27,000 pounds in London, and roughly 3,000 pounds less in North East, South West, Yorkshire, and other areas. Oddly enough, you could get a pay increase by working in the Midlands.
Living in London is great as your career as a lawyer grows, as the overall salary can be 10,000 pounds higher than if you lived in say, the Midlands.
After the report was released, James Batt, the managing director at BCL Legal Recruitment chimed in with the following: “Our internal data shows how much newly qualified lawyers’ salaries differ from region to region. It might seem great choosing to live and work in London, as the salaries are than anywhere else in the UK. However, you do need to consider the cost of living. You may earn £20,000 a year more than those based elsewhere, but you can also pay many times more on your rent, travel and lifestyle, which can bring your income much lower than expected.î
Where will you choose and live and practice law? Think over your decision carefully, as it really can affect your future!