[chelseafan]

I was looking on this website for regional firm salaries and they seemed quite high. What im asking is are these realistic salaries for someone who has a 2.1 from a decent unit (top 20)

http://www.rollonfriday.com/InsideIn...1/Default.aspx

[Brevity]

(Original post by chelseafan)
I was looking on this website for regional firm salaries and they seemed quite high.

A law student with low expectations: how refreshing.

[nulli tertius]

(Original post by chelseafan)
I was looking on this website for regional firm salaries and they seemed quite high. What im asking is are these realistic salaries for someone who has a 2.1 from a decent unit (top 20)

http://www.rollonfriday.com/InsideIn...1/Default.aspx

They are reasonable expectations for a very few highly paying commercial firms in the highest paying provincial locations in the country. If you were working in the company/commercial department of an Exeter or Chester or a Sunderland firm, you would not expect to be earning that much at that stage of your career.

30% of all trainees are paid at SRA minimum salary. Whilst the ROF NQ figures are higher than pay outside the large commercial centres, I think the difference is less extreme. The old rule of thumb was that a fee earner should be paid 1/3 of his billing.

[Weeves]

I went to a London based public lecture a few weeks back called 'A career in Law' aka it was all about having a career in Law, what to expect, not to expect etc and Salaries were a fairly large topic in this lecture.

The guy showed us a table of a solicitors salary through the solicitors career. It went as followed:
(these are average based salaries for a city solicitor)

Trainee: £21,000 annually

Newley qualified: £35,000 - £45,000 annually

Year 2 of practice: £50,000

Year 3: £60,000

Year 4: £70,000

Year 5: £80,000

Year 6+: £80,000 - £100,000

Partnership: £100,000 - 1million+

As you can see it goes up a substantial amount per year, and reaches the penultimate wage when granted partnership.

Remember this is an average salary for a city solicitor at a likely magic circle law firm.



This was posted from The Student Room's iPhone/iPad App

[chelseafan]

(Original post by Weeves)
I went to a London based public lecture a few weeks back called 'A career in Law' aka it was all about having a career in Law, what to expect, not to expect etc and Salaries were a fairly large topic in this lecture.

The guy showed us a table of a solicitors salary through the solicitors career. It went as followed:
(these are average based salaries for a city solicitor)

Trainee: £21,000 annually

Newley qualified: £35,000 - £45,000 annually

Year 2 of practice: £50,000

Year 3: £60,000

Year 4: £70,000

Year 5: £80,000

Year 6+: £80,000 - £100,000

Partnership: £100,000 - 1million+

As you can see it goes up a substantial amount per year, and reaches the penultimate wage when granted partnership.

Remember this is an average salary for a city solicitor at a likely magic circle law firm.



This was posted from The Student Room's iPhone/iPad App

Thanks a lot but I was interested in regional firms as I doubt I have the ability for a city firm.

[Schott]

(Original post by chelseafan)
Thanks a lot but I was interested in regional firms as I doubt I have the ability for a city firm.

City firms do attract a lot of able persons but don't be fooled into thinking regional solicitors are any less able. Often it is the location of London which puts them off more than anything else.

You'd find very able people at most if not all of the firms on that list.

Your chances with a high-profile regional office of a national law firm are probably reasonably similar to that of many City firms.

[chelseafan]

(Original post by Schott)
City firms do attract a lot of able persons but don't be fooled into thinking regional solicitors are any less able. Often it is the location of London which puts them off more than anything else.

You'd find very able people at most if not all of the firms on that list.

Your chances with a high-profile regional office of a national law firm are probably reasonably similar to that of many City firms.

What are the salaries like at low profile regional firms?

[emmings]

(Original post by chelseafan)
What are the salaries like at low profile regional firms?

It varies massively amongst firms and depending on the part of the country you're in.

For regional (not the regional offices of national firms) you can probably expect anything from Law Soc minimum (~£16k) to £25k as a trainee, then probably anything from £25k-£40k as an NQ.

Pay rises at regional firms tend to be smaller as well so expect it to take a lot longer to reach those dizzy heights of the higher rate tax band.

[nulli tertius]

(Original post by chelseafan)
What are the salaries like at low profile regional firms?

I would suggest you look at the advanced search facility on the Law Society Gazette's website.

http://jobs.lawgazette.co.uk/advancedsearch/

Most provincial posts appear here and salary bands are given so you get some idea what recruiters mean when they put "competitive" or words to that effect. You will then see the range of jobs available and the salary range.

[jacketpotato]

(Original post by Schott)
City firms do attract a lot of able persons but don't be fooled into thinking regional solicitors are any less able. Often it is the location of London which puts them off more than anything else.

Slightly off-topic, but I just want to add that I completely agree with this.

Although most people on TSR talk about wanting to go to the "Magic Circle", its not for everyone. It is a corporate, hierarchical, high-pressure and long-hours environment. As a trainee or junior associate, if the client needs something done urgently you have to be prepared to cancel your evening plans, work until 4am that night and come in at 9am the following morning. It doesn't happen every week but it has happened to me a number of times during my Training Contract. Understandably, there are lots of very capable people who are happy to take a lower salary for a better work-life balance.

[chelseafan]

(Original post by jacketpotato)
Slightly off-topic, but I just want to add that I completely agree with this.

Although most people on TSR talk about wanting to go to the "Magic Circle", its not for everyone. It is a corporate, hierarchical, high-pressure and long-hours environment. As a trainee or junior associate, if the client needs something done urgently you have to be prepared to cancel your evening plans, work until 4am that night and come in at 9am the following morning. It doesn't happen every week but it has happened to me a number of times during my Training Contract. Understandably, there are lots of very capable people who are happy to take a lower salary for a better work-life balance.

Wow congratulations! Btw do you have any advice regarding subject choices in a level for law?

[jacketpotato]

(Original post by chelseafan)
Wow congratulations! Btw do you have any advice regarding subject choices in a level for law?

Traditional academic A-levels are the most respected by law firms. Beyond that, I don't think it matters enormously. Universities and law firms are happy with any traditional academic subjects. The most important thing is to pick subjects you are interested in and will achieve good grades in.

[jjarvis]

(Original post by Weeves)
I went to a London based public lecture a few weeks back called 'A career in Law' aka it was all about having a career in Law, what to expect, not to expect etc and Salaries were a fairly large topic in this lecture.

The guy showed us a table of a solicitors salary through the solicitors career. It went as followed:
(these are average based salaries for a city solicitor)

Trainee: £21,000 annually

Newley qualified: £35,000 - £45,000 annually

Year 2 of practice: £50,000

Year 3: £60,000

Year 4: £70,000

Year 5: £80,000

Year 6+: £80,000 - £100,000

Partnership: £100,000 - 1million+

As you can see it goes up a substantial amount per year, and reaches the penultimate wage when granted partnership.

Remember this is an average salary for a city solicitor at a likely magic circle law firm.



This was posted from The Student Room's iPhone/iPad App

I'm a little confused by what you mean when you say "city solicitor". Usually this refers to people who practice in the City of London. If that's what you mean, the pay's better (for these solicitors) than that structure would indicate. The numbers you give are not reflective of the salary structure in the magic/silver circle, which is more along these lines (plus or minus about £1000-£2000):

Trainee: 38k
NQ: 60k
1 year PQE: 70k
2 year PQE: 75k
3 year PQE: 85k

You're right to stress that many solicitors don't take home this kind of money--as NT notes, about 1/3 are on the Law Society minimum. But at the top end of commercial firms in London, the pay's pretty substantial.

[chelseafan]

(Original post by jacketpotato)
Traditional academic A-levels are the most respected by law firms. Beyond that, I don't think it matters enormously. Universities and law firms are happy with any traditional academic subjects. The most important thing is to pick subjects you are interested in and will achieve good grades in.

Ok thanks for the advice, also do you have any other advice for a person interested in a law career?

[maminushka]

Money is not everything. Imagine that to get to that kind of money you will have to spend 12-14 hours in office daily for the rest of your life. Is that what you want?I've spoken to solicitors and this is usually the case because you need to bill and bill and bill lots of money before you get to that salary and that usually requires lots of hours put in. Some people love wasting their lives in office but some don't!

[chalks]

(Original post by maminushka)
Money is not everything. Imagine that to get to that kind of money you will have to spend 12-14 hours in office daily for the rest of your life. Is that what you want?I've spoken to solicitors and this is usually the case because you need to bill and bill and bill lots of money before you get to that salary and that usually requires lots of hours put in. Some people love wasting their lives in office but some don't!

No, you don't.

Life in City law firms is demanding and can be stressful. The hours can often be tough but most would say that it's the unpredictability which is the worst. 12-14 hour days are not the norm, and certainly not a daily occurence.

The excitement of the job comes hand-in-hand with urgent projects, pressing deadlines and demanding high profile clients. Whether you classify that as "wasting your life" is a matter for you.

[openunisol]

That's quite a good salary structure for a regional Firm. God, this industry is depressing!!!

[Sean9001]

(Original post by chelseafan)
Thanks a lot but I was interested in regional firms as I doubt I have the ability for a city firm.

With that kind of modesty, you may have better chances than you may think.