Fri, 17 May 2013
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Lawyers' salaries catch up with investment bankers'
Catch up with the US . . .
While part of the pay disparity is the result of US lawyers graduating from law school with debts upward of USD 100,000, this is only part of the story.
Having worked in both the US and the UK, there is a tremendous gap between the abilities of a first-year US lawyer, who will have had at least four years' more university education and usually five or six years' more life experience than a UK trainee. Any US firm that is using its resources properly will be giving its first and second year lawyers significantly more responsibility than a UK trainee.
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