For those of you contemplating throwing all your cash out of an SUV before moving to a tree-house on a wind-farm, here’s some advice from Oscar Wilde: it is better to have a permanent income than to be fascinating.
If you’ve just thrown your fountain pen at the computer screen, fair enough. But let us tell you that now is not a good time to leave the law, at least if you’re working in-house. According to analysis in Towers Watson’s Legal Salary Report, in-house lawyers are earning up to 11 per cent more than their private practice counterparts.
If you’re reading this as a junior lawyer, you’ve probably just thrown another fountain pen. According to the study, in-house lawyers who have recently qualified earn about a third less than their private practice contemporaries. But the tables turn further down the line, so says the study, with in-house lawyers getting bigger bonuses while private practice lawyers wait longer to reach partnership.
Feeling better? Now get back into that SUV and keep your piggy bank close.