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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.
Respondents to a recent Solicitors Regulation Authority (SRA) consultation have shown significant support for retaining the minimum salary for trainees solicitors.
The SRA began its consultation in October 2006 to determine whether the market favours the abolitition of the minimum salary for trainee. The summary of responses was published by the SRA yesterday (1 May).
The majority of respondents, two thirds of whom were trainees, said that they support the current standard aimed at protecting trainees from exploitation in the legal market.
Meanwhile, firms and other individuals indicated, during the consultation period that ended in January this year, that removal of the minimum wage would lower standards in the profession.
The president of the Trainee Solicitors Group (TSG) Melissa Worth welcomed the findings. She told Lawyer2B.com: Removal of the protection afforded by the minimum salary would lead to trainees being exploited, put off candidates entering the profession, and in turn, reduce diversity.
She added: The TSG failed to be convinced by arguments that removing the minimum salary would increase opportunities for potential trainees and it seems that almost everyone who responded to the SRA share that view. The TSG looks forward to the SRA confirming that the minimum salary requirement will be retained.
The current minimum salary for trainees working in central London is 17,110 and 15,605 for those working elsewhere.