PAY DATA
Pay awards for in-house lawyers well above inflation
Recruitment and retention difficulties faced by UK companies have led them to pay well-above inflation pay rises to their in-house legal staff.
Salary awards for senior in-house lawyers working in commerce and industry, for example, were running at an average 6.8% last year – also well above the level of pay settlements across the economy as whole.
%ADVERT%
The inflation-busting pay awards for senior in-house lawyers are shown in a new snapshot poll of the profession from Incomes Data Services, published in its January 2008 Executive Compensation Review.
Key results
The average salary for senior in-house lawyers was £114,658, while the highest rate of all was £277,000.
Salary increases for senior in-house lawyers ranged from 3% to just over 20%.
The average bonus received by senior in-house lawyers last year was worth 31.4% of salary, with the highest cash amount equalling £223,300.
The average salary for deputy in-house lawyers was £78,806, with rates varying between £50,000 and £162,000.
Company cars and car allowances, followed by private medical insurance, are the most common benefits.
A final word
“Our survey shows that the battle for legal talent is not confined to big City law firms. It seems that industrial and commercial employers are also having to pay over the odds to ensure they recruit the best people.” - Steve Tatton, editor of IDS Executive Compensation Review.
Want to know more?
Title: IDS Executive Compensation Review, January 2008, Incomes Data Services.
Methodology: The IDS survey looked at the salary, bonus and benefits of the most senior non-board in-house lawyers and their immediate deputies in 22 organisations. All the data, including details of their job responsibilities, was collected between September and October 2007.
Availability: To order a copy visit the IDS web site at www.incomesdata.co.uk or contact customer services on tel: 0845 600 9355 or email: sweetandmaxwell.customerservices@thomson.com.
Incomes Data Services is the “leading UK information and research service on employment issues”, providing a range of publications for employers, trade unions, government departments and other agencies. Find out more at www.incomesdata.co.uk.