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Chambers overtake law firms in pay battle for junior talent

Mary J - your query how much barristers at top sets are earning after the first 12 months ... suggesting it is unlikely to be more than 65k. New juniors at top sets are likely to just about double this following pupillage. They will often be taken on as juniors to experienced leads in big cases, which will take a great deal of time in preparation, case management, research, reading in and a like. As an example, shall we say that a junior at a top set charges a rate of £100 per hour (A figure perhaps a little on the low side for a top chambers, but it makes the maths easier). Supposing he or she works a 36 hour chargable week ... not a very long one by anybody's standards, especially not a barristers. The sum for the week is £3600. 3600 x 4 = £14,400pm. Multiply this by 12 and we arrive at £172,800. From this figure, one must deduct clerk's fees etc that will probably amount to somewhere in the region of 40%. So, 40% of £172,800 amounts to £103,680, take home pay. A little higher than most NQs I imagine. What this figures fails to take account of is the large reading in fees pre trial and the court fees, all of which will bump the figure up considerably. Barrister v Solicitor - I take your points, although I do stress that I feel the title of the piece is a little misleading. The arguement that the "top talent" battle should occur between regional solicitors firms and the creme de la creme of the bar is far fetched at best, I must agree. However, the £15k+ debt of the BVC is offset by those who gain pupillage prior to the BVC,as they will be awarded a certain amount of money by chambers for this year. You also fail to take account of those winning scholarships from the Inns of Court, which will often cover the majority of the course fees. Whilst the numbers in question are small, it represents the differing nature of the Bar and the Solicitors profession. By comparison, pupillage places a Chambers will be limited to perhaps 2 or 5 at some of the bigger sets. Top firms will offer up to 100 places. I suppose anything that is worth doing is competitive. Lagged earnings tend to be a fact of live, I guess one has to like it or lump it!

12-Aug-2009

12:39 pm