The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
A newly qualified solicitor (NQ) at a New York firm in London can earn almost 50 per cent more than a salaried partner at a West End firm, recruitment consultant Laurence Simons has revealed.
In its latest salary survey Laurence Simons states that a London NQ at a New York firm can command a salary of £96,000. This compares with the £60,000 salary that junior partners at some small West End firms take home.
The survey said: "West End firms face a new and as yet unresolved challenge: how to raise pay to ever-rising market rates while still preserving the work-life balance and realistic route to partnership that has historically made them an attractive career option."
London equity partners looking for a move to a top US firm must be sure of a big client following. The survey found that most US firms will only open their equity to laterals with billings of at least £2m a year. In comparison, medium-sized City firms will accept partners with a client base bringing in £500,000.
As a general rule, equity partners looking for new firms should be confident of billing at least three times their earnings. Despite a wave of City salary rises, senior lawyers in London are better off at US firms. The top New York rate for a lawyer with five years' PQE is £140,000, which is up to £45,000 more than the level paid by the magic circle.