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London Legal Market & Salary Guide

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London Legal Market & Salary Guide Connecting the world’s best legal talent Connecting the world’s best legal talent London Australian Insurance Legal Market & Salary Legal Market Guide Guide Sonder Consultants Salary Guide 2019 Sonder Consultants Salary Guide 2019 London UK Background Information 3 Lifestyle 3 Top Law Firms 3 Prinicipal Areas of Demand 3 Salary Guide 2019 4 Meet the Team 5 SONDER INTERNATIONAL SEARCH CONSULTANTS 2 London Background Information Top Law Firms London has been a very common destination for Australia and NZ lawyers at all levels for Magic Circle Silver Circle many years now. It is such a cosmopolitan, diverse and exciting city, and in terms of career Allen & Overy Ashurst opportunities it knows no bounds. London has evolved to be a world-leading financial Clifford Chance Bryan Cave Leighton Paisner centre over the past two decades and it remains one of the most dominant cities in Europe (even in light of the latest referendum). Freshfields Herbert Smith Freehills Linklaters Macfarlanes In the past 12 months we have seen an increase in the demand for lawyers at the 2-5 PQE lawyer across most practice areas. Firms have begun to pick up their hiring again after Slaughter and May Travers Smith the initial uncertainty of Brexit. We have also seen a large number of Australian and New We have seen Magic Circle firms and US firms increase their NQ salaries quite significantly. Zealand lawyers looking to return back home having a spent a number of years in London. For instance, Freshfields recenty raised its NQ salary to £100,000 which is an 18% increase In the UK, in order to qualify as a lawyer, you must complete a two-year training contract from £85,000. The move is a reflection of the recruiting power of the US firms in London, with a law firm to be admitted into practice. This is quite a different process to Australia as a where NQs can earn up to £143,000. law graduate can be admitted into practice after completing their college of law programme Principal Areas of Demand which can vary from 3-6 months in duration. This in turn means that a 2 year PAE lawyer will be looked at as a Newly Qualified lawyer in the London market. As the NQ market in • Corporate London is relatively saturated we generally encourage waiting until you have 3 PAE under • Banking & Finance your belt before exploring London roles. • Dispute Resolution • Restructuring & Insolvency Lifestyle • Intellectual Property Recognised as one of the most expensive cities in the world, London enforces its charm. • Projects The millions of people living in London are mainly concentrated in the central areas of the city, reducing spaces and consequently, the need to share accommodation is inevitable. Prices per room vary, but certainly the comfort of your home will be a restricted privilege you will face when planning to live and enjoy this amazing city. While life is expensive, learning opportunities, employment, business and investments abound. The city is vibrant and dynamic with a high level of competitiveness which makes London a trendy and fashionable business hub. Each person can find their place, with opportunities for professional growth in all industries. SONDER INTERNATIONAL SEARCH CONSULTANTS 3 London US Firms PQE Salary (GBP) Salary (AUD) NQ £110,000 $195,000 Salary Guide 1 £130,000 $230,000 2 £145,000 $255,000 2019 3 £165,000 $290,000 4 £180,000 $315,000 5 £190,000 $335,000 6 £205,000+ $360,000+ Magic Circle Silver Circle PQE Salary (GBP) Salary (AUD) PQE Salary (GBP) Salary (AUD) NQ £100,000 $175,000 NQ £85,000 $145,000 1 £105,000 $185,000 1 £92,000 $160,000 2 £112,000 $195,000 2 £100,000 $173,000 3 £120,000 $205,000 3 £108,000 $188,000 4 £128,000 $220,000 4 £116,000 $201,000 5 £135,000 $235,000 5 £125,000 $218,000 6 £145,000+ $255,000+ 6 £135,000+ $235,000+ * Based on average figures from the Magic Circle firms - please note that all Magic Circle firms recently * All figures to be used as a guide and based off data from placements within a 12 month period. raised their NQ salary to £100,000. Medium range salaries are displayed. SONDER INTERNATIONAL SEARCH CONSULTANTS 4 Meet the Team Kevin Sinnott Matthew Hart Lori Beattie Alexandra Costigan Managing Director Associate Director Senior Consultant Legal Search Consultant [email protected] [email protected] [email protected] [email protected] +61 2 8277 4511 +61 2 8277 4511 +61 2 8277 4511 +61 2 8277 4511 @Kevin Sinnott @Matthew Hart @Lori Beattie @Alexandra Costigan www.sonderconsultants.com www.sonderconsultants.com www.sonderconsultants.com www.sonderconsultants.com See Full Bio See Full Bio See Full Bio See Full Bio SONDER INTERNATIONAL SEARCH CONSULTANTS 5 Connecting the world’s best legal talent INTERNATIONAL SEARCH CONSULTANTS We Are Experts in Legal Recruitment Our global, extensive network enables us to go above and beyond for each individual with a tailored approach specific to your needs and values. www.sonderconsultants.com [email protected] +44 207 796 8713 Level 6, 107 Cheapside, London EC2V 6DN Sydney | London | New York.
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