LAWYERS were stunned by news that a New York firm is offering a u450,000 salary – believed to be the highest advertised salary for a UK lawyer.
The advertisement is appearing in major national newspapers and trade press over the next seven days and is handled by recruitment consultant Quarry Dougall.
Quarry Dougall recently ran an advertisement from a US firm, offering a u400,000 salary.
A Quarry Dougall spokes-man says: “This is the highest salary we have ever advertised. US firms have a structure that enables them to offer exceptionally high rewards to the right people. These jobs will not go to just anybody. The salary is based on an equity share and would change with future profits.”
Partner Martin Heath at Clyde & Co describes the figure as “incredible”.
David Bramson at Nabarro Nathanson says: “I am sure they will have difficulty dealing with the influx of applications.”
Caroline Ellis, spokeswoman for Frere Cholmeley Bischoff, says: “I thought the u400,000 advert was the highest ever when I saw that. But u450,000 must surely be the highest.”
Geoff Parker, marketing manager at Richards Butler, says his firm would only offer such a salary to “an exceptional person bringing in an exceptional amount of work, but then he would probably be made a partner anyway. It is an extremely high figure.”
Robert Pay, of Clifford Chance, says high salaries are usually offered by headhunters and have never been publicised before. “Can this be for just one year's work?”