Salary increase for in-house lawyers
Lawyers who are working in-house have experienced a pay increase well above the rate of inflation, new research has revealed.
Income Data Services (IDS) discovered those in the corporate counsel sector are now earning 6.8 per cent more than they were last year, Legal Week reported.
"Our survey shows that the battle for legal talent is not confined to big City law firms," said Steve Tatton, editor of the IDS Executive Compensation Review.
"It seems that industrial and commercial employers also have to pay over the odds to ensure they recruit the best people."
In-house lawyers now earn £114,658 on average, with some earning in excess of double that amount.
Bonuses have also risen between three and 20 per cent, the study showed.
Insurance expert Dr Marius Barnard recently suggested that a lawyer could find a better solution to financial problems by purchasing critical illness cover.
Source: Legal Week
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