27 August, 2008

Money, money, money

Hmmmm.... and this table is why being a solicitor may not be such a bad idea.


(Yes, I know, it's London wages and regional ones are between 1/3 and 1/2 lower - but nevertheless..!)

5 comments:

LE:GAL said...

Tempting, tempting!

I'm aware of a partner in a small regional firm who earns just above the '1st seat' wage. Heh.

Hello, btw. I'm new to this actually commenting lark.

Miss Middle of Manchester said...

Then welcome to the wonderful world of commenting; and I hope you've enjoyed reading, before!

If you look at the regional frms, there is a quite clear difference between them and London - even when it's the same firm (eg: Addleshaw Goddard).

Then again, a salary of, say £50000 x 2.5 =£250000 gets you quite a nice house in quite a nice area up here. In London, it still only gets you a hovel in zone 4....

LE:GAL said...

Indeed I have! :)

Mmhmm. It's all about what you want from life really, rather than the isolated figure of your earnings.

Still mighty interesting though.

Law Minx said...

Tempting though fat city firm wages seem to be, one cannot expect to have any sort of a life in which to go off and spend it, given that one is chained to ones desk at all hours ( bieng frightened to retire to one's zone 4 hovel in case the fee earners think you arent pulling your weight) or having to actually sleep in until some big deal or other is closed - I believe some city firms actually have 'hotel'floors where you can grab some kip!!.
This is not for me, I'm afraid.....

Miss Middle of Manchester said...

It's why the 'target hours' column is quite interesting...

Assuming it's the yearly billing targets, they're not too bad:

The average seems about 1500.

divide by 47 (to leave 5 weeks holiday) and it's only about 35 hours. Assume 15-20 hours of unbillable work each week and it's only a 50-60 hour week - not bad at all in my view. Work 8-7 (Mon-Fri) plus a couple of hours at weekend and you're through. although, obviously, I accept many people will want to exceed target hours, I suspect my estimate of 15-20 non-billable hours is a large overestimation.

It does show the contrast between different firm though. A&O are well known for working people to the ground - though they do pay hem for it. I might put the figures into excel as I'm curious as to which form gives the highest wage for the lowest billing target...