The UK legal profession can offer attractive salaries, with many firms offering bonuses and pay rises that go beyond basic salary data. But don’t let salary dictate your career decisions – pursue something you truly love instead!
Newly qualified solicitors at international legal powerhouses may earn up to PS85,000 a year, while equity partners could take home as much as PS1 million per annum.
The average salary for a lawyer in the UK is PS62,000 per year
Law is one of the highest-paid careers in the UK, yet salaries can differ drastically depending on your area of specialisation and firm. Commercial and corporate lawyers make more money than their counterparts who specialize in personal injury, immigration or family law; lawyers outside London typically make less.
Your choice of firm can also have an enormous impact on your salary, with US-based and Magic Circle firms typically being among the highest payers. A newly qualified solicitor at one of these top US firms such as Kirkland & Ellis may make up to PS160,000 annually or PS100,000 at Magic Circle firms; equity partners at these top London firms often receive over PS800,000.
Salaries for trainee lawyers vary between regions, though typically tend to be lower in England and Wales. Trainee lawyers training in London tend to earn more than those elsewhere across the country (although no official minimum salary exists for trainees). Pupillage awards range from PS27,000-PS60,000 in London with an average award amount being approximately PS50,000 throughout the rest of the country.
As soon as you become a fully qualified lawyer, your salary will take an immediate leap upward. Your income depends on which area of law and size of firm you specialize in – commercial/corporate as well as EU are among the highest-paying areas while family/personal injury may not lead to such impressive returns; particularly with high street firms.
However, money should not be the sole deciding factor when selecting your career path. Being a lawyer is still very rewarding work if it’s something that speaks to your heart; even though the path may be challenging at times. With hard work comes some of the highest salaries in the UK.
The highest salaries are paid to commercial and corporate lawyers
The UK boasts some of the highest salaries for lawyers worldwide, thanks to an enticing legal profession which pays well and can be one of the most rewarding professions to enter. But training to be a lawyer won’t come cheap either: tuition fees, vocational courses and studying can cost several tens of thousands – not including living costs and new clothes for events and interviews!
After taking into account their expenses and earnings potential, a solicitor in a mid-tier firm in the UK can expect to earn around PS62,000 annually at minimum wage. But this doesn’t equate to riches; salaries vary significantly across sectors, while your experience and field of specialisation also have a major bearing on your income.
As an example, when working for a large City law firm you can expect to be paid much more than when employed at smaller regional firms. This is due to competition among City firms for talent; those in competition will offer higher salaries to lure prospective lawyers; this group of firms are collectively known as the ‘Magic Circle” and include such well-known names as Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters among many more.
There are also “Silver Circle” firms, which pay top commercial and corporate lawyers well. These smaller law firms still compete with Magic Circle firms in recruiting top talent; examples of such include Macfarlanes, Travers Smith and Mishcon de Reya. Likewise in the US there are various “Monetary Law” firms which pay highly compensated junior lawyers.
Law firms typically employ additional staff members who assist the fee-earners and run the firm efficiently, such as paralegals and legal secretaries who provide administrative support and ensure clients are properly cared for. Furthermore, these staff members may transcribe notes, maintain complex filing systems or help solicitors manage their workload more efficiently.
Paralegal salaries typically start from around PS28,000 per annum in the UK; this varies between firms. Legal assistants and personal secretaries generally charge between PS25,000-PS30,000 depending on experience; these professionals form the backbone of the legal sector and play an essential part in keeping justice running smoothly.
The lowest salaries are paid to personal injury and immigration lawyers
The average annual salary of UK lawyers stands at PS68,700 per year; however, this figure may differ widely depending on location and practice area. Lawyers working on personal cases, such as family or personal injury matters are less likely to command high-figure earnings; furthermore, training costs associated with becoming a lawyer may incur large debts that require repayment; therefore it’s essential that prospective legal practitioners carefully consider all their earnings potential before embarking on this career path.
Your choice of law firm also plays an essential role in your salary; generally speaking, the higher profile the firm is, the more money you can expect to be made available; some of the highest-paid solicitors work at high street practices while prestigious London firms may pay out more. Furthermore, seniority plays an enormous role; solicitors or legal executives with more than eight years experience usually charge around PS282 an hour as their rate.
Trainee and newly qualified lawyers can expect their salaries to experience a substantial boost once they complete pupillage training. The minimum award for those trained in London is currently PS20,703, while outside London it stands at PS18,884 per pupillage year; though more successful trainee barristers may earn much more. How much a barrister earns depends upon how well they performed during pupillage and his or her specialisms: those specialising in commercial law will typically command higher pay while those working on more personal cases such as family or Personal Injury will generally not draw such large salaries.
The salary of a trainee lawyer in the UK is PS50,000 per year
If you love law and want to devote your working life to upholding justice, a career in law could be perfect for you. Although long hours and stressful work conditions are present in this profession, the pay can be substantial – however trainee lawyers do not typically earn as much due to not yet passing either the Solicitors Qualifying Examination (SQE) or Legal Practice Course (LPC).
The salary of a trainee lawyer in the UK varies year to year and depends on which firm you work for. Typically, higher salaries can be found with Magic Circle firms such as Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Slaughter and May; these typically employ graduates with top degrees and grades.
International and US law firms typically offer higher starting salaries to trainees, including PS50,000 for first year trainees and PS65,000 for newly qualified solicitors. This salary can be considered competitive when compared with other law firms and comes with additional perks like sponsorship for SQE/LPC exams, gym memberships and in-house medical services.
Attributes that impact a trainee lawyer’s salary in the UK include their field of specialization. Most lucrative fields include business, commercial, and corporate law as well as personal injury law, immigration law and family law – however if criminal law is your specialty it will pay less than its commercial or corporate counterpart.
Trainee lawyers typically earn higher than national average salaries in the UK due to London’s top law firms recruiting graduates from around the globe. If you want a higher income, applying for one of the top London law firms as a trainee lawyer could give you more experience and lay the groundwork for a successful legal career.
