Analysis of Office of National Statistics data – conducted by accountancy, financial services and legal recruiter Randstad Financial & Professional – found that since 2006, the last full year before the credit crunch, lawyers’ salaries rose by slightly more than 8 per cent, compared to a 7.5 per cent increase for accountants.
However, the national average for UK employees was 11.4 per cent.

Divided sector

The research also found a growing pay divide within the legal sector. Qualified lawyers have seen the healthiest pay rises, while associated staff members, such as paralegals, have seen average pay fall 8.6 per cent compared to 2006 levels.
Randstad managing director Tara Ricks commented on the survey results: ‘It’s tempting to think that salary rises in financial and professional services have been hit across the board since the last boom as companies look to keep costs down. But actually it’s been more like the board game snakes and ladders. Even within specific areas like law and accountancy, different roles have seen salary inflation at a completely different pace.’