The salaries of in-house lawyers are still failing to compete with the amounts awarded to their private practice counterparts.
A survey published by the CLO Programme this week revealed that the average basic salary received by general counsel was just £136,820. In stark contrast, this year’s The Lawyer UK 100 revealed that lowest average profit per equity partner out of the top 50 firms was £145,000.
However, the highest paid general counsel are closing in on partners in private practice. The survey found that some general counsel’s basic salary is high as £975,000, which exceeds the average profit per equity partner in any of the UK’s top 100 firm.
The survey found that the sectors offering the highest basic salaries are financial, chemicals, food, drink and tobacco.