salary guide uk€¦ · whilst navigating legal pitfalls. nearly all industry sectors saw strong...
TRANSCRIPT
SALARY GUIDEUK
INTRODUCTION FROM DAVID LEITHEAD - UK CHIEF OPERATIONS OFFICER
DAVID LEITHEAD
Chief Operations Officer | UK
Generally, the most prominent theme in the UK’s professional recruitment market throughout 2019 was how Brexit caused uncertainty, with employers reluctant to commit to hiring and job seekers hesitant to make the leap when offers did materialise. The quantity of jobs available and hires completed were both heavily impacted, as reported in the results of all the major PLC recruiters as the year progressed. According to Bank of England research, UK businesses expect more clarity and certainty to return in 2020 and a key question for recruiters is whether demand has become pent up in the system, in which case we could see a spike in hiring and an escalating war for talent in 2020.
As well as Brexit headwinds, another spectre hanging over a major section of the professional workforce in the private sector is the much publicised reform of IR35. This reform aims to transform the enforcement of these 20 year old tax rules that were designed to prevent workers from using Limited Company entities to disguise employment. If the plans are rolled out in April 2020 and not delayed by the new government, it will result in a largely negative transformation of the private sector contracting landscape, with much collateral damage, at least in the short term.
2020 will see the recruitment market further impacted by the use of technology tools and particularly Artificial Intelligence. The development and deployment of these tools continue to accelerate, along with the debate about whether they are good or bad for the industry.
AI is held out to be a game changer in eliminating bias from recruitment, but as well as doubt over how we can trust the machine to get it right, there are ethical and moral dilemmas. And it seems job seekers don’t like it - research in 2019 showed that 86% of job seekers would prefer a human being to review their CV, and 73% feel a highly automated recruitment process worsens their perceptions of an employer. So it will be interesting to see how things play out in the next 12 months and where progress is made.
Technology advances are affecting recruitment in other ways too, as many jobs are changing and the skills sets sought after are adjusting as well. Managing this new breed of employee is something that traditional managers are not always equipped to do, and development around that will be a major theme of organisations’ hiring in the coming year.
Our individual market reports show that the topic of flexibility in the workplace and a greater focus on wellbeing and work life balance are big themes for 2020. Organisations will face real challenges with engagement as more of their employees disappear from the traditional office set up. Employers will also need to be diligent because, in 2019, it became clear that increased levels of flexibility seemed to drive up working hours - an unexpected and generally unwelcome consequence.
Overall many recruitment companies in the UK will be looking forward to 2020 in the hope for a more positive market. There will be challenges but also lots of opportunities!
Salary Guide 2020LEGAL
LEGAL
OVERVIEW OF LEGAL RECRUITMENT
2019 was a strong year for the recruitment of lawyers, bringing hope for an equally buoyant 2020. Hiring of qualified solicitors into both in house positions and law firms across the UK was significant throughout the year as strong legal support was required to help navigate the turbulent, Brexit ravaged landscape.
Within law firms, there was noticeable hiring across banking and financial services, specifically leveraged and acquisition finance. Additionally ,there was a need to hire corporate M&A and ECM lawyers, as well as contentious lawyers across banking litigation, general commercial and arbitration. There has been a rise in high profile investigations off the back of LIBOR and mis-selling, and it is highly likely that the pipeline of investigations will continue into 2020. This said, throughout the year there was an unusual surge of lawyers looking to leave practice. This resulted in an ever shrinking talent pool for law firms and made it increasingly difficult to replace those leavers.
Recruitment for in house legal roles spanned across general commercial, including IP and data protection, as well as deep technical roles including regulatory, competition and real estate. Businesses had to ensure they were legally robust and subsequently hired multiple lawyers. There is an element of cost-cutting by having your legal team in house, but the true reason is to ensure the business can generate efficient revenue whilst navigating legal pitfalls.
Nearly all industry sectors saw strong levels of hiring in 2019, in particular rapid growth areas such as technology, media and telecoms, financial services and energy. Buy side financial services providers also hired significantly; we witnessed a growth of Asset Management companies in London from the U.S.
Top 3 temporary Legal roles
• Regulatory Lawyers (those with EU language experience, in particular French)
• ISDA Negotiator• Legal Consultant (to work on contract reviews and
support large scale projects)
Top 3 permanent Legal roles
• Regulatory Counsel - Brexit and GDPR• M&A Lawyers• Litigation roles in house
Prominent benefits seen across Legal
One of the major draws of moving from a law firm to an in-house position is the perceived work/life balance improvement. In the majority this is correct, especially those moving from Magic Circle and White Shoe firms. In some instances, lawyers have reduced their working hours significantly whilst keeping competitive salaries, however some of the larger firms are still committed to offering flexible and agile working arrangements; this is particularly prevalent within firms that have a bias towards technology clients.
U.S. law firms still offer the largest remuneration packages, where mid-level associates can expect to earn over £300,000 in total compensation. However, it is undeniable that you will be expected to work long hours. Law firms, moreover, do have exceptional benefits including full pay for 6 months maternity leave, on site GPs and increasingly a ‘dress for your day’ attitude.
Benefits for lawyers within companies generally include the option to work from home at least once a week, increased annual leave and in some organisations, bonuses which are virtually guaranteed. It should be noted however that most lawyers working in large corporates can expect to be on call for emergency situations and working within a global company, you may be expected to conduct calls at unfavourable hours. The assumption of a better work/life balance by moving in house could be called into question.
LEGAL
PREDICTIONS FOR 2020 AND BEYOND
We are expecting large financial businesses to continue building their legal functions across London as the capital remains the financial centre of the world in 2020. We are going to see a move towards the recruitment of investigations, compliance and regulatory lawyers to ensure banks adhere to the continuing developments of legislation. Mainstream banks with hiring freezes are likely to thaw in 2020 and we should see some institutional names looking to back fill those who have moved on.
Wider businesses outside financial services will require a range of commercial lawyers to draft and negotiate new cross border agreements and with M&A activity, we expect the full range of lawyers to be utilised from employment, real estate and competition. The slow demise of the high street and the number of large retailers being taken into administration suggests that roles within restructuring and insolvency will also be in demand. Lastly, the role of the private client lawyer is changing and the model of the traditional private client law firm is slowly being eroded by the growth of Wealth Management businesses and the hiring of their own legal teams. Law firms will need to change or adapt to ensure they stop the slow exodus.
The biggest differentiator for the temporary legal market against the permanent market in 2020 will be with the changes to IR35 coming into play in April. Senior legal consultants and interim lawyers have, like most, made full use of being able to work through a Limited Company over recent years. With the legislation changes due early in 2020, unless the new government delays them for a further year, the decision to do so will be taken out of their hands and the end client will decide whether a role is inside or outside IR35.
The market is likely to be challenging for those seeking a new job. Both businesses and law firms will continue to raise the bar and the competition per role will be as strong as ever. High quality roles are likely to attract multiple applications and only the very best will be selected.
LEGALLEGAL
IN HOUSE - C&I | PERMANENT (Annual salary)
© Morgan McKinley 2020
UNITED KINGDOM - 2020 LEGAL SALARY GUIDE
2020 LEGAL SALARY GUIDE
Our 2020 Legal Salary Guide covers remuneration and workplace trends for both permanent andtemporary legal jobs across the UK.
PERMANENT
In House - C&I (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £110,000 £140,000+
7 - 8 yrs' PQE £80,000 £100,000 £125,000+
5 - 6 yrs' PQE £60,000 £100,000 £120,000+
4 yrs' PQE £60,000 £90,000 £100,000+
3 yrs' PQE £60,000 £70,000 £90,000
2 yrs' PQE £55,000 £70,000 £85,000+
1 yr PQE £50,000 £65,000 £75,000
In House - Financial Services (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £150,000 £200,000 £300,000+
7 - 8 yrs' PQE £140,000 £180,000 £250,000+
5 - 6 yrs' PQE £120,000 £150,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £85,000 £100,000 £125,000+
2 yrs' PQE £70,000 £85,000 £100,000+
1 yr PQE £60,000 £70,000 £85,000
Private Practice - US Firms (£ Per Annum)
IN HOUSE - FINANCIAL SERVICES | PERMANENT (Annual salary)
© Morgan McKinley 2020
UNITED KINGDOM - 2020 LEGAL SALARY GUIDE
2020 LEGAL SALARY GUIDE
Our 2020 Legal Salary Guide covers remuneration and workplace trends for both permanent andtemporary legal jobs across the UK.
PERMANENT
In House - C&I (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £110,000 £140,000+
7 - 8 yrs' PQE £80,000 £100,000 £125,000+
5 - 6 yrs' PQE £60,000 £100,000 £120,000+
4 yrs' PQE £60,000 £90,000 £100,000+
3 yrs' PQE £60,000 £70,000 £90,000
2 yrs' PQE £55,000 £70,000 £85,000+
1 yr PQE £50,000 £65,000 £75,000
In House - Financial Services (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £150,000 £200,000 £300,000+
7 - 8 yrs' PQE £140,000 £180,000 £250,000+
5 - 6 yrs' PQE £120,000 £150,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £85,000 £100,000 £125,000+
2 yrs' PQE £70,000 £85,000 £100,000+
1 yr PQE £60,000 £70,000 £85,000
Private Practice - US Firms (£ Per Annum)
LEGAL
PRIVATE PRACTICE - US FIRMS | PERMANENT (Annual salary)
© Morgan McKinley 2020
UNITED KINGDOM - 2020 LEGAL SALARY GUIDE
2020 LEGAL SALARY GUIDE
Our 2020 Legal Salary Guide covers remuneration and workplace trends for both permanent andtemporary legal jobs across the UK.
PERMANENT
In House - C&I (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £110,000 £140,000+
7 - 8 yrs' PQE £80,000 £100,000 £125,000+
5 - 6 yrs' PQE £60,000 £100,000 £120,000+
4 yrs' PQE £60,000 £90,000 £100,000+
3 yrs' PQE £60,000 £70,000 £90,000
2 yrs' PQE £55,000 £70,000 £85,000+
1 yr PQE £50,000 £65,000 £75,000
In House - Financial Services (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £150,000 £200,000 £300,000+
7 - 8 yrs' PQE £140,000 £180,000 £250,000+
5 - 6 yrs' PQE £120,000 £150,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £85,000 £100,000 £125,000+
2 yrs' PQE £70,000 £85,000 £100,000+
1 yr PQE £60,000 £70,000 £85,000
Private Practice - US Firms (£ Per Annum)
PRIVATE PRACTICE - CITY FIRMS | PERMANENT (Annual salary)
© Morgan McKinley 2020
Job Title Low Average High
9+ yrs' PQE £280,000+ £300,000+ £350,000+
7 - 8 yrs' PQE £240,000+ £260,000+ £300,000+
5 - 6 yrs' PQE £220,000+ £240,000+ £280,000+
4 yrs' PQE £190,000+ £210,000+ £250,000+
3 yrs' PQE £170,000+ £190,000+ £220,000+
2 yrs' PQE £160,000+ £180,000+ £200,000+
1 yr PQE £140,000+ £160,000+ £180,000+
Private Practice - City Firms (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £180,000 £250,000+ £280,000+
7 - 8 yrs' PQE £160,000 £200,000+ £240,000+
5 - 6 yrs' PQE £140,000 £160,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £90,000 £100,000 £120,000+
2 yrs' PQE £80,000 £90,000 £100,000+
1 yr PQE £75,000 £85,000 £95,000+
Private Practice - National (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £120,000 £150,000
7 - 8 yrs' PQE £80,000 £100,000 £140,000
5 - 6 yrs' PQE £70,000 £85,000 £120,000
4 yrs' PQE £60,000 £70,000 £90,000
3 yrs' PQE £50,000 £65,000 £75,000
2 yrs' PQE £45,000 £55,000 £70,000
1 yr PQE £40,000 £50,000 £65,000© Morgan McKinley 2020
Job Title Low Average High
9+ yrs' PQE £280,000+ £300,000+ £350,000+
7 - 8 yrs' PQE £240,000+ £260,000+ £300,000+
5 - 6 yrs' PQE £220,000+ £240,000+ £280,000+
4 yrs' PQE £190,000+ £210,000+ £250,000+
3 yrs' PQE £170,000+ £190,000+ £220,000+
2 yrs' PQE £160,000+ £180,000+ £200,000+
1 yr PQE £140,000+ £160,000+ £180,000+
Private Practice - City Firms (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £180,000 £250,000+ £280,000+
7 - 8 yrs' PQE £160,000 £200,000+ £240,000+
5 - 6 yrs' PQE £140,000 £160,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £90,000 £100,000 £120,000+
2 yrs' PQE £80,000 £90,000 £100,000+
1 yr PQE £75,000 £85,000 £95,000+
Private Practice - National (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £120,000 £150,000
7 - 8 yrs' PQE £80,000 £100,000 £140,000
5 - 6 yrs' PQE £70,000 £85,000 £120,000
4 yrs' PQE £60,000 £70,000 £90,000
3 yrs' PQE £50,000 £65,000 £75,000
2 yrs' PQE £45,000 £55,000 £70,000
1 yr PQE £40,000 £50,000 £65,000
LEGAL
PRIVATE PRACTICE - NATIONAL | PERMANENT (Annual salary)
© Morgan McKinley 2020
Job Title Low Average High
9+ yrs' PQE £280,000+ £300,000+ £350,000+
7 - 8 yrs' PQE £240,000+ £260,000+ £300,000+
5 - 6 yrs' PQE £220,000+ £240,000+ £280,000+
4 yrs' PQE £190,000+ £210,000+ £250,000+
3 yrs' PQE £170,000+ £190,000+ £220,000+
2 yrs' PQE £160,000+ £180,000+ £200,000+
1 yr PQE £140,000+ £160,000+ £180,000+
Private Practice - City Firms (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £180,000 £250,000+ £280,000+
7 - 8 yrs' PQE £160,000 £200,000+ £240,000+
5 - 6 yrs' PQE £140,000 £160,000 £200,000+
4 yrs' PQE £100,000 £120,000 £150,000+
3 yrs' PQE £90,000 £100,000 £120,000+
2 yrs' PQE £80,000 £90,000 £100,000+
1 yr PQE £75,000 £85,000 £95,000+
Private Practice - National (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £90,000 £120,000 £150,000
7 - 8 yrs' PQE £80,000 £100,000 £140,000
5 - 6 yrs' PQE £70,000 £85,000 £120,000
4 yrs' PQE £60,000 £70,000 £90,000
3 yrs' PQE £50,000 £65,000 £75,000
2 yrs' PQE £45,000 £55,000 £70,000
1 yr PQE £40,000 £50,000 £65,000
PRIVATE PRACTICE - WEST END | PERMANENT (Annual salary)
© Morgan McKinley 2020
Private Practice - West End (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £100,000 £120,000 £160,000
7 - 8 yrs' PQE £85,000 £100,000 £140,000
5 - 6 yrs' PQE £75,000 £85,000 £100,000
4 yrs' PQE £66,000 £80,000 £100,000
3 yrs' PQE £62,000 £78,000 £88,000
2 yrs' PQE £58,000 £68,000 £75,000
1 yr PQE £50,000 £60,000 £70,000
Private Practice - Offshore (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £200,000 £250,000 £300,000
7 - 8 yrs' PQE £180,000 £200,000 £250,000
5 - 6 yrs' PQE £160,000 £180,000 £230,000
4 yrs' PQE £150,000 £160,000 £200,000
3 yrs' PQE £140,000 £150,000 £180,000
2 yrs' PQE £120,000 £140,000 £160,000
1 yr PQE £100,000 £120,000 £140,000
CONTRACT
General Counsel (£ Per day)
Job Title Low Average High
VP £500 £600 £700
Director £650 £700 £850
MD £700 £750 £900
Head of £750 £900+ £1,000+
LEGAL
PRIVATE PRACTICE - OFFSHORE | PERMANENT (Annual salary)
© Morgan McKinley 2020
Private Practice - West End (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £100,000 £120,000 £160,000
7 - 8 yrs' PQE £85,000 £100,000 £140,000
5 - 6 yrs' PQE £75,000 £85,000 £100,000
4 yrs' PQE £66,000 £80,000 £100,000
3 yrs' PQE £62,000 £78,000 £88,000
2 yrs' PQE £58,000 £68,000 £75,000
1 yr PQE £50,000 £60,000 £70,000
Private Practice - Offshore (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £200,000 £250,000 £300,000
7 - 8 yrs' PQE £180,000 £200,000 £250,000
5 - 6 yrs' PQE £160,000 £180,000 £230,000
4 yrs' PQE £150,000 £160,000 £200,000
3 yrs' PQE £140,000 £150,000 £180,000
2 yrs' PQE £120,000 £140,000 £160,000
1 yr PQE £100,000 £120,000 £140,000
CONTRACT
General Counsel (£ Per day)
Job Title Low Average High
VP £500 £600 £700
Director £650 £700 £850
MD £700 £750 £900
Head of £750 £900+ £1,000+
GENERAL COUNSEL | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Private Practice - West End (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £100,000 £120,000 £160,000
7 - 8 yrs' PQE £85,000 £100,000 £140,000
5 - 6 yrs' PQE £75,000 £85,000 £100,000
4 yrs' PQE £66,000 £80,000 £100,000
3 yrs' PQE £62,000 £78,000 £88,000
2 yrs' PQE £58,000 £68,000 £75,000
1 yr PQE £50,000 £60,000 £70,000
Private Practice - Offshore (£ Per Annum)
Job Title Low Average High
9+ yrs' PQE £200,000 £250,000 £300,000
7 - 8 yrs' PQE £180,000 £200,000 £250,000
5 - 6 yrs' PQE £160,000 £180,000 £230,000
4 yrs' PQE £150,000 £160,000 £200,000
3 yrs' PQE £140,000 £150,000 £180,000
2 yrs' PQE £120,000 £140,000 £160,000
1 yr PQE £100,000 £120,000 £140,000
CONTRACT
General Counsel (£ Per day)
Job Title Low Average High
VP £500 £600 £700
Director £650 £700 £850
MD £700 £750 £900
Head of £750 £900+ £1,000+
LEGAL
HEAD OF LEGAL | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Head of Legal (£ Per day)
Job Title Low Average High
VP £500 £600 £650
Director £550 £650 £750
MD £600 £750 £900
Head of £700 £900+ £1,000+
In-house Solicitor (£ Per day)
Job Title Low Average High
Associate £300 £350 £400
AVP £350 £400 £500
VP £450 £550 £600
Director £500 £550 £650
MD £600 £700 £750
Head of £800 £900 £1,000
Legal & Compliance Manager/Director (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £250 £350 £400
Director £350 £500 £550
MD £500 £600 £650
Head of £500 £650 £700
Company Secretary (£ Per day)
Job Title Low Average High
Associate £150 £170 £200
IN-HOUSE SOLICITOR | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Head of Legal (£ Per day)
Job Title Low Average High
VP £500 £600 £650
Director £550 £650 £750
MD £600 £750 £900
Head of £700 £900+ £1,000+
In-house Solicitor (£ Per day)
Job Title Low Average High
Associate £300 £350 £400
AVP £350 £400 £500
VP £450 £550 £600
Director £500 £550 £650
MD £600 £700 £750
Head of £800 £900 £1,000
Legal & Compliance Manager/Director (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £250 £350 £400
Director £350 £500 £550
MD £500 £600 £650
Head of £500 £650 £700
Company Secretary (£ Per day)
Job Title Low Average High
Associate £150 £170 £200
LEGAL
LEGAL & COMPLIANCE MANAGER/ DIRECTOR | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Head of Legal (£ Per day)
Job Title Low Average High
VP £500 £600 £650
Director £550 £650 £750
MD £600 £750 £900
Head of £700 £900+ £1,000+
In-house Solicitor (£ Per day)
Job Title Low Average High
Associate £300 £350 £400
AVP £350 £400 £500
VP £450 £550 £600
Director £500 £550 £650
MD £600 £700 £750
Head of £800 £900 £1,000
Legal & Compliance Manager/Director (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £250 £350 £400
Director £350 £500 £550
MD £500 £600 £650
Head of £500 £650 £700
Company Secretary (£ Per day)
Job Title Low Average High
Associate £150 £170 £200
COMPANY SECRETARY | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Head of Legal (£ Per day)
Job Title Low Average High
VP £500 £600 £650
Director £550 £650 £750
MD £600 £750 £900
Head of £700 £900+ £1,000+
In-house Solicitor (£ Per day)
Job Title Low Average High
Associate £300 £350 £400
AVP £350 £400 £500
VP £450 £550 £600
Director £500 £550 £650
MD £600 £700 £750
Head of £800 £900 £1,000
Legal & Compliance Manager/Director (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £250 £350 £400
Director £350 £500 £550
MD £500 £600 £650
Head of £500 £650 £700
Company Secretary (£ Per day)
Job Title Low Average High
Associate £150 £170 £200
© Morgan McKinley 2020
Job Title Low Average High
AVP £175 £200 £250
VP £300 £375 £400
Director £400 £500 £550
MD £450 £600 £650
Head of £500 £600 £700
Paralegal (£ Per day)
Job Title Low Average High
Associate £150 £175 £200
AVP £175 £200 £250
VP £200 £300 £350
ISDA Negotiator (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £350 £450 £500
Director £500 £550 £650
MD £550 £600 £700
Head of £600 £650 £700
Contracts Manager (£ Per day)
Job Title Low Average High
Associate £200 £225 £250
AVP £225 £300 £325
VP £300 £400 £450
Director £450 £550 £600
PARALEGAL | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Job Title Low Average High
AVP £175 £200 £250
VP £300 £375 £400
Director £400 £500 £550
MD £450 £600 £650
Head of £500 £600 £700
Paralegal (£ Per day)
Job Title Low Average High
Associate £150 £175 £200
AVP £175 £200 £250
VP £200 £300 £350
ISDA Negotiator (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £350 £450 £500
Director £500 £550 £650
MD £550 £600 £700
Head of £600 £650 £700
Contracts Manager (£ Per day)
Job Title Low Average High
Associate £200 £225 £250
AVP £225 £300 £325
VP £300 £400 £450
Director £450 £550 £600
LEGAL
ISDA NEGOTIATOR | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Job Title Low Average High
AVP £175 £200 £250
VP £300 £375 £400
Director £400 £500 £550
MD £450 £600 £650
Head of £500 £600 £700
Paralegal (£ Per day)
Job Title Low Average High
Associate £150 £175 £200
AVP £175 £200 £250
VP £200 £300 £350
ISDA Negotiator (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £350 £450 £500
Director £500 £550 £650
MD £550 £600 £700
Head of £600 £650 £700
Contracts Manager (£ Per day)
Job Title Low Average High
Associate £200 £225 £250
AVP £225 £300 £325
VP £300 £400 £450
Director £450 £550 £600
CONTRACTS MANAGER | CONTRACT (£ Per Day)
© Morgan McKinley 2020
Job Title Low Average High
AVP £175 £200 £250
VP £300 £375 £400
Director £400 £500 £550
MD £450 £600 £650
Head of £500 £600 £700
Paralegal (£ Per day)
Job Title Low Average High
Associate £150 £175 £200
AVP £175 £200 £250
VP £200 £300 £350
ISDA Negotiator (£ Per day)
Job Title Low Average High
Associate £150 £200 £250
AVP £200 £300 £350
VP £350 £450 £500
Director £500 £550 £650
MD £550 £600 £700
Head of £600 £650 £700
Contracts Manager (£ Per day)
Job Title Low Average High
Associate £200 £225 £250
AVP £225 £300 £325
VP £300 £400 £450
Director £450 £550 £600
© Morgan McKinley 2020
Job Title Low Average High
MD £500 £600 £650
Head of £500 £600 £650
Overview of Legal recruitment
2019 was a strong year for the recruitment of lawyers, bringing hope for an equally buoyant 2020. Hiringof qualified solicitors into both in house positions and law firms across the UK was significant throughoutthe year as strong legal support was required to help navigate the turbulent, Brexit ravaged landscape.
Within law firms, there was noticeable hiring across banking and financial services, specifically leveragedand acquisition finance. Additionally ,there was a need to hire corporate M&A and ECM lawyers, as wellas contentious lawyers across banking litigation, general commercial and arbitration. There has been a risein high profile investigations off the back of LIBOR and mis-selling, and it is highly likely that the pipeline ofinvestigations will continue into 2020. This said, throughout the year there was an unusual surge oflawyers looking to leave practice. This resulted in an ever shrinking talent pool for law firms and made itincreasingly difficult to replace those leavers.
Recruitment for in house legal roles spanned across general commercial, including IP and dataprotection, as well as deep technical roles including regulatory, competition and real estate. Businesseshad to ensure they were legally robust and subsequently hired multiple lawyers. There is an element ofcost-cutting by having your legal team in house, but the true reason is to ensure the business cangenerate efficient revenue whilst navigating legal pitfalls.
Nearly all industry sectors saw strong levels of hiring in 2019, in particular rapid growth areas such astechnology, media and telecoms, financial services and energy. Buy side financial services providers alsohired significantly; we witnessed a growth of Asset Management companies in London from the U.S.
Top 3 temporary Legal roles
Regulatory Lawyers (those with EU language experience, in particular French)ISDA NegotiatorLegal Consultant (to work on contract reviews and support large scale projects)
Top 3 permanent Legal roles
Regulatory Counsel - Brexit and GDPRM&A LawyersLitigation roles in house
Prominent benefits seen across Legal
One of the major draws of moving from a law firm to an in-house position is the perceived work/lifebalance improvement. In the majority this is correct, especially those moving from Magic Circle and WhiteShoe firms. In some instances, lawyers have reduced their working hours significantly whilst keepingcompetitive salaries, however some of the larger firms are still committed to offering flexible and agileworking arrangements; this is particularly prevalent within firms that have a bias towards technology
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