The high workloads and loneliness of working from home led to high rates of burnout, “and law firms responded with double-digit pay increases and generous bonuses that triggered a wage war.” According to the results report, medical and dental degrees give the highest average salary of graduates (£49,400), followed by business (£38,200) and veterinary sciences (£36,400). However, nursing and midwifery graduates also earned more than those with law degrees. If you work in an urban business, your work-life balance may be compromised, but your salary certainly reflects your hard work. For example: government figures show that the average Oxford law graduate earns £72,600 five years after completing their studies, while the Cambridge LLB intermediate graduate earns £59,900. New law graduates will receive starting salaries of up to £156,000, thanks to a boom in commercial business and property transactions after Brexit and Covid. Washington DC-based law firm Akin Gump recently raised its newly qualified salary for London recruits to £159,000 (or $215,000). This rate was dated retroactively to January 1, 2022 and calculated using a fixed conversion rate that was valid until March. With the current exchange rate, however, this figure could now be closer to around £170,000. Under the new pay system, Clifford Chance reached Freshfields` newly qualified starting salary, beating Allen & Overy and Linklaters with £107,500 and Slaughter and May with £115,000. The University of Cambridge`s law degree generated an average income of £69,400 in the tax year ending in 2019, while those who studied law at the London School of Economics earned an average of £65,500 five years after graduation.

Oxford University followed closely behind with a median salary of £64,600. Clifford Chance updated its graduate recruitment website on Monday to reflect a 16% pay rise to £125,000 from £107,500 – the second increase in just over six months. The report, which looks at the 2018/19 income of graduates in 2012/13, says the median salary of law graduates is £27,400 – almost exactly the UK average. However, it turned out that the salary varies greatly depending on the university students attended. “This is part of a general review of employees` salaries. It`s fair to say that the company`s employees will be paid differently this year,” the source told the Telegraph. New York-based Milbank recently announced a £10,000 salary increase for newly qualified lawyers, bringing his salary to £215,000 (£160,000). Technically, there is no official minimum wage for potential lawyers, but the Bar recommends a minimum of £22,794 for those trained in London and £20,217 for articling students elsewhere in the country.

According to the Department of Education, law graduates can earn between £18,600 and £69,400 five years after graduation. Business and management is the only degree that has greater variation in median income between suppliers, ranging from £19,000 to £70,800. You can expect these numbers to increase year by year as you gain post-qualified experience (EQP). If you become a partner in a business, your salary could potentially reach more than £100,000. Office of the law firm. A negotiable salary in the range of £17,500 to £18,000 is offered with excellent work. The table below presents information on public wages for all firms participating in our study. We collect salary data for first-year articling students, second-year articling students and newly qualified lawyers. However, universities outside the Russell Group reported significantly lower salaries for graduates. The University of Wolverhampton, for example, had a median salary for law graduates of £21,500, while graduates from the University of Bedfordshire and the University of Plymouth earned an average of £24,800 and £23,700 respectively. An industry once associated with gray suits, tedious paperwork, and arrogant partners — Suits` Harvey Spectre wasn`t out of nowhere — is in an intense battle for talent that sparked a pay race. “I experienced two major wage wars: during the dot.com boom and as the global financial crisis approached.

And remember, while it`s tempting to let salary information dictate your career choices, don`t let numbers stop you from pursuing an area of law that you`re really passionate about. Money isn`t everything and there are many other things you should consider when planning your legal career. For example, weighing which qualification path is best for you, which areas of law are of interest to you, and what type of law firm is best for you. In addition to a base salary of £125,000, most young lawyers are also entitled to bonuses. On the other hand, it “does not control for differences in the characteristics of graduates,” such as how they entered university. Some institutions have a much higher proportion of disadvantaged students than others. 8.00am to 8.00pm Monday to Friday and 9.00am to 5pm Saturday and Sunday * Starting salary is £19,500 + * The role takes place at Bradley Stoke, Bristol. * Successful applicants will be submitted. Also essential be its benefits/package: Competitive salary (£22-26k base, depending on location) with excellent OTE Fantastic. One of the elite law firms in the city`s “magic circle” raised the starting salary of junior lawyers in their mid-20s to £125,000, intensifying a war for talent with aggressive American rivals.

A senior in-house lawyer at a FTSE 100 firm who spent a lucrative decade climbing the ranks of a Magic Circle law firm tells me that today`s graduates appreciate flexible working and work-life balance. Official statistics show how much law graduates earn five years later. Journey from Croydon and its surroundings Salary: Up to £27,000 (depending on experience) Benefits: On-site parking + many more. He added: “Undoubtedly, the other Magic Circle companies will continue to raise their salaries, which will have an impact on the wider legal market.” £43,000 (London); £34,000 (Cheltenham); £37,000 (Guilford). + 2 minutes walk to the train station + parking hours: Monday – Friday 9am – 5pm Salary: Up to £23,000 Permanent roll Benefits: On-site parking + many more benefits! We are looking for one. Junior work in corporate law involves zoning very detailed parts of transactions, conducting audit exercises, and collecting data: “It`s important work, and it needs to be done well, but it`s long and tedious,” Roberts admits. The government can help by working with business associations on skills, immigration and unemployment policies that boost labour supply, help businesses grow and prosper in the UK. Law firm based in Edgbaston, Birmingham.

£18,000 basic OTE £60,000 Unlimited training programme + excellent benefits. “Professional recruiters are an important tool for companies at times like these, helping them find the best employees by revising their workforce plans and reaching new candidate pools. Sign-up bonuses, which are offered in some cases, as well as moving packages. In 2 years you will probably earn more than £50,000 a year through hard work, you will quickly receive rewards, within the 6 months you will receive. Neil Carberry, chief executive of the REC, said last month: “However, the decline in hotel management roles in this data rather reflects the completion of hiring for Christmas. Graduate lawyers receive starting salaries of up to £150,000 as wage inflation hits its highest level in 20 years, according to a recruiter. U.S. rivals with the London offices responded with their own pay raises. Further reading: Are lawyers overpaid? | How much do lawyers earn? | Are the high salaries of lawyers justified? | Lawyers` salaries in the US market While Magic Circle articling students were earning £100,000 in salaries before COVID, the top five companies decided to cut salaries by up to 10% during the pandemic. A number of these companies have since decided to raise NQ`s wages, but for now, they are lagging behind pre-pandemic levels.

For example, Allen & Overy have reduced their NQ salaries to £90,000, but this has now been increased to £95,000. Linklaters also reduced theirs to £90,000, but has since increased it to £92,500. Lawyers for Slaughter and May NQ will now earn £90,500 after the salary was initially cut to £87,000 to contain the financial impact of the coronavirus. The highest salaries are found in areas of law dealing with companies that are well known nationally and internationally, such as commercial law, company law and EU law. Potential lawyers are expected to work long and arduous hours, and at the beginning of your training contract, contact with clients will be minimal and the majority of your tasks will be administrative. Qualifying as a lawyer is a long process and the training contract is the last hurdle. Many interns, especially in companies in the city or magic circle, are rewarded with high salaries. Learn more about the reality of working in law. “Senior partners – those who run the business – leave the profession because it catches up with them and juniors are recruited.”