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Big pay reserved for top lawyers

Big pay reserved for top lawyers

FIRMS ACROSS the globe may be most desperate for talented lawyers at the two- to five-year level, but it is more experienced lawyers who saw the largest pay increases this year in Britain, a…

FIRMS ACROSS the globe may be most desperate for talented lawyers at the two- to five-year level, but it is more experienced lawyers who saw the largest pay increases this year in Britain, a PricewaterhouseCoopers (PwC) survey suggests.

Salary increases for fee earners have been higher this past year than in 2005, but contrary to last year’s figures, the larger increases were reserved this year for lawyers in the upper ranks.

According to the PwC survey into law firms, this reflects that “law firms are focusing more on retaining experienced staff”.

The survey reveals an increasing divergence between the salary levels of top 25-law firm lawyers and smaller firms. PwC stated that this was true particularly of more experienced fee earners, who can expect to earn 55 per cent less than equivalent posts in the top 25 firms.

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