Friday, November 16, 2007

How much do solicitors get paid?

Now here's a subject you wont see written about often, if ever on the blawg circuit.

PAY!

Bit vulgar for some but lets face it - you aint in this game for the love.


How much is a 2 year qualified solicitor paid nowadays?

We are recruiting right now and weve got the usual discussions going on with senior staff. We all read the
Gazette and see the salaries on offer. Remuneration will generally be based on a few key factors:

Location
Candidates experience
Specialism
The firm's policy

Now we had a good discussion this week about commission versus nailed on salary. My view is that we should offer low to mid range salary packages with good commission so that the successful candidates can earn good money if they work hard and get results. Equally if you mess about you will get very little above your salary.

Regular readers (I have around 5) will know that I dont like shirkers or trainees who think the world owes them a living. Im old school and proud of it.

People in our senior team seem to favour mid level salary with little or no commission. The package is enhanced after 2 years etc.

For a 2 year qualified solicitor in the personal injury field:
With commission - good people will earn around £40k

Without - it will be in the low 30s

We dont offer any extra benefits - its a lean mean machine that we run here Im afraid. But my view is commission works every time over guaranteed salary.

Here's some useful info on salaries in the industry

Oh and by the way - I earn £65k plus bonuses, private healthcover, fuel allowance, life cover and I also get free coffee - in case your wondering

Our top men earn around £80k plus the extras and equity share

The top man clears £120k plus his bonuses and of course the largest slice of equity

When you get to this level - the job definitely does pay well.

Told you this was a vulgar subject - but why the hell shouldnt we discuss it on the blogosphere?

4 comments:

solicitors northampton said...

Good to know!

habika said...
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R_and_R said...
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jhonsprite17 said...
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