Articles From the Team
BCL Legal Recruitment 2005 - 2016 Salary Report
NQ commercial lawyers in the Midlands have been able to expect the highest rate of pay throughout all regions outside London. This was until 2015 when commercial lawyers in the Midlands, the North West and Yorkshire could all expect an average salary of £37,000 per annum.
- Newly-qualified commercial lawyers based in London earned an average of £65,000 in 2015, almost £30,000 more than those in the Midlands, the North West and Yorkshire. London lawyers of all practices commonly earn £30,000 more than their regional counterparts.
- From 2005, law salaries in general experienced a gradual fall UK-wide, hitting their lowest point in 2011. The financial instability of this particular year is also reflected in a sharp fall in the stock market across the globe. Since that time, however, pay-checks have been gradually on the increase, with a sharp boost beginning in 2015 for all regions but the North East, and London.
- Both the North East and London are currently experiencing a plateau in wage increases within commercial law, with the North East sticking on £34,000 and London on £65,000 since 2015.
- London-based lawyers of all practices generally boast the highest rate of pay throughout their careers, though the average general practice lawyer in the Midlands will earn one thousand pounds more per annum until their second year, where the two meet at £32,000. From there, London breaks the deadlock, eventually hitting an average Junior Partner rate of £60,000 compared to the Midlands £50,000.