Signs of salary growth in London legal industry
London salaries are on the rise, particularly for in-house legal teams, according to the Robert Walters Salary Survey 2012.
Legal salaries rose 2.4% overall in the past year. Pay for permanent in-house commerce and industry roles rose 4.1%, while in-house financial services salaries rose 2.5% and private practice salaries rose 1.6%. However, contract rates for private practice fell slightly.
Colin Loth, director of legal recruitment at Robert Walters, says: “Despite uncertain market conditions, the legal jobs market has been steadily improving over the past year and this is reflected in the fact that salaries are continuing to rise.
“Within private practice, we are seeing consistent demand for junior-level associates at the two to four years’ PQE level in finance-related roles. At this level, the best professionals are receiving notable salary increases when moving roles. Contract rates are also on the rise in some key areas. For example, documentation review specialists can now expect £35-£40 an hour compared to £25-£30 an hour a year ago.”
