The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
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.
The UK's in-house lawyers are the best paid in the world, according to a new survey of in-house salaries.
UK general counsel with legal teams of more than 30 lawyers earn an average of £214,000, just edging out their US counterparts who take an average of $419,000, or £210,703 at current exchange rate levels, according to a survey by recruitment consultants Laurence Simons.
Naveen Tuli, in-house recruitment consultant at Laurence Simons, said the high pay reflected their expanded roles as corporate advisers. "We liken the role to that of consigliere - a trusted adviser separate from the executive council of a business, but with real influence over the individual at the very top."
The survey looked at the salaries of more than 8,000 in-house lawyers in 20 countries. The UK might have some of the best-paid general counsel, but salaries for less senior in-house lawyers are unlikely to increase in the short term because of a plentiful supply.
The report said: "Despite the increasing demand for in-house lawyers, reward packages have not climbed substantially, mainly due to the steady stream of high-quality lawyers seeking to move across from private practice."
Bosses may earn more in the UK, but their in-house lawyers earn less than colleagues in the US. For example, an in-house lawyer with seven years' PQE will command a salary of £77,000 in the UK compared with $165,000 (£82,974) in the US.
General counsel in Germany are the highest earners in mainland Europe, with the top band making e272,000 (£205,790). Legal chiefs in Spain have the lowest salaries among the European lawyers surveyed, with general counsel of 15-lawyer teams earning e149,000 (£112,730).