According to data from recruitment firm Laurence Simons, the average basic salary for a senior in-house lawyer in the United Kingdom has lifted 12 per cent from £112,920 to £126,100 in the last 12 months. However, average bonuses for in-house counsel have slipped in the opposite direction from 39 per cent of base salary (£44,130) to 31 per cent (£39,090) this year. Combined, the two changes represent a 5 per cent increase in overall earnings for senior in-house lawyers over the last year from £157,060 to £165,190. According to Laurence Simons global managing director Clare Simons, the growth in salaries and earnings is symptomatic of a deeper, more seismic shift in the role and value of the in-house lawyer: ‘While legal is mission critical, most corporates don’t have huge budgets to spend on elite law firms. The result of this is a greater focus on building stronger and broader in-house teams, which means recruiting lawyers from private practice at a premium,’ she said.
Sources: Legal Cheek; Law Society Gazette
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