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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Law students across the country have lambasted College of Law (CoL) chief Nigel Savage for accepting a 40 per cent pay rise last year, which sent his already fat paycheck spiralling to the dizzy heights of £440,000
The 2009 accounts for the CoL, which is a registered charity, show that not only has Savage’s pay been boosted but his number two, deputy chief executive Alan Humphreys, has also received a 33 per cent increase too. This has pushed his wage packet up to £410,000.
The accounts also show that every member of the seven-strong CoL management board is paid more than £190,000 - an average of £275,000 each.
Law student Grace Salmern, who is studying at Queen Mary University of London, said: “This is a typical fat cat scenario. It’s supposed to be a charity and care about its students but it’s obviously charging them too much for courses if it can afford to pay its management this much, especially in a recession.”
But CoL has defended its whopping salary increases by linking the rises to a series of performance related bonuses rather than a boost in basic pay.
Chairman of the governors David Yates said: “CoL is a unique organisation which does not have access to either public funds, unlike universities, or private capital, unlike our major for-profit competitors. Instead it has to win all of its income for both operating expenditure and investment solely through commercial activity.”