Laurence simon salary survey 2011/2012

Global Legal
Salary Survey &
Market Trend Report
2011/12

Contents
Introduction........................................................ 4

Benelux............................................................ 74

About Us........................................................... 6
Methodology...................................................... 7

Netherlands......................................................... 76
Belgium............................................................... 77
Luxembourg........................................................ 77

Key Findings...................................................... 9

Germany.......................................................... 78

Demographics..................................................... 10
Location of Respondents...................................... 12
Job Title............................................................... 14
Sector/Discipline.................................................. 16
Current Employment............................................. 18
Bonus................................................................. 24
Benefits............................................................... 28
Career Progression.............................................. 30
Outlook................................................................ 36

Switzerland...................................................... 82

UK................................................................... 38
Private Practice.................................................... 40
Banking & Finance............................................... 48
In-House – Overview............................................ 50
In-House – Life Sciences...................................... 51
In-House – Energy................................................ 52
In-House – FMCG & Retail.................................... 53
In-House – Traditional Media................................. 54
In-House – TMT................................................... 55
In-House – Compliance........................................ 56
IP Patent Attorney & Trademark Attorney................ 57

Ireland.............................................................. 58
In-House.............................................................. 60

France............................................................. 62
In-House.............................................................. 64

Italy.................................................................. 66
Spain............................................................... 70

Russia.............................................................. 86
In-House.............................................................. 90

Middle East...................................................... 92
In-House.............................................................. 94

Hong Kong & Mainland China........................... 96
In-House.............................................................. 99

Singapore...................................................... 102
India............................................................... 106
North America................................................ 110
Private Practice.................................................. 112
In-House............................................................ 113

Latin America – São Paulo.............................. 114
In-House............................................................ 116
Banking & Finance............................................. 117

Latin America – Rio de Janeiro........................ 118
In-House............................................................ 120
Banking & Finance............................................. 121

Legal Recruitment Advertising Solutions........... 122
Acknowledgements & Disclaimer..................... 124
General Counsel Dinners................................ 125
Contact Us.................................................... 126

Laurence Simons Salary Survey 2011/12

Introduction

As a recognised leader in the legal recruitment market for over 20 years,
Laurence Simons has built up one of the most comprehensive networks of
clients and candidates in the legal world.
Towards the end of 2011 we used this network to carry out an extensive
research project into the salaries and benefits received by lawyers in key
markets around the globe.

Introduction

We received an overwhelming response from over 1,200 legal professionals
and, together with our global database of lawyers, the material gathered
provides the basis of this report, which we hope will be a valuable resource,
whether you are looking for a new role or to strengthen your team.
Generally speaking, across all locations and industries, recent times have been
uncertain and challenging; this is reflected in some of the data and trends you
will see in the survey. That being said, there are many reasons to be optimistic.
Latin America, Russia, Africa, Asia and the Middle East continue to experience
a steady increase in demand for legal talent and whilst North America and
Europe have struggled to weather the rather unique economic storm, there
has been a consistent demand for legal staff in industry sectors such as Life
Sciences, Oil and Gas, Technology and Telecommunications, as well as within
specific practice areas such as Corporate, Funds, Competition and Regulatory.

www.laurencesimons.com

There are presently mixed messages in the market and whilst most clients
have adopted a cautionary approach to hiring in 2012, thankfully, only a small
number of law firms, multinationals or financial institutions have installed blanket
hiring freezes. Indeed, the vast majority who may have downsized during 2008
and 2009 appear to have restructured effectively and are noticeably better
prepared for any further market deterioration; having diversified and streamlined
their businesses and risk by focusing, for instance, on the emerging markets
for their future growth.


Introduction
As a means of introducing this report, we have picked out a few findings which we
hope you will find interesting:
• 5% of those surveyed considered the role of a recruitment agency or
7
headhunter the 'most important' factor when seeking a new role
• 6% of respondents work between 46 and 50 hours per week and 30% work
3
more than 51 hours per week

Introduction

• espite the uncertain economic climate, 72% of respondents received a bonus
D
in 2011 and 54% received an increase in bonus from the previous year
• 6% of respondents considered their current roles to be ‘secure’ or ‘very secure’
8
despite 50% feeling ‘pessimistic’ about the economic outlook
• 7% of respondents would consider a move overseas for their next role
6
Some interesting highlights but, as always, we are keen to hear your feedback.
If you have any questions or would like a confidential discussion regarding your
career or recruitment plans, please do not hesitate to get in touch.
Kind regards,

5


Naveen Tuli | Global Managing Director
naveen.tuli@laurencesimons.com
+44 (0)20 7645 8504


About Us

Founded in 1988, Laurence Simons is a specialist international legal recruitment
consultancy. Our clearly stated vision is: ‘To be the world’s leading company in
legal recruitment by quality of service, market reputation, calibre of employees and
global coverage’.

About Us

Operating across Europe, Russia, the Middle East, Asia, North America and Latin
America, Laurence Simons truly is an international recruiter. Our network of offices
is unique in the field of legal recruitment and we have been pioneering in serving
new markets, in particular across Europe and Latin America, the Middle East,
Russia and India.
We have effectively recruited in over 60 countries, as a result of our consultants
working together, providing a seamless service across continents. We cover the
entire spectrum of permanent and temporary legal positions in both the Private
Practice and In-House markets, from Newly Qualified through to Partner and
General Counsel level roles.


To be the world’s leading company
in legal recruitment by quality of
service, market reputation, calibre
of employees and global coverage.


Methodology

During 2011 Laurence Simons conducted a survey with clients and candidates
focusing on remuneration, bonuses and recruitment trends. Over 1,200 legal
professionals were surveyed across the globe from 10 industry sectors.

Methodology

The salary survey is based on the data received from the online survey, our
global database of lawyers, as well as, expert estimations from experienced
consultants. Whilst the survey embraced experienced legal professionals
working across Private Practice, In-House and Banking and Finance, where we
received sufficient data we have provided the salary range for each grouping.
Unfortunately, this was not possible for all regions. We quote annual median
salary ranges in local currencies.
It is important to note that the salary survey is a useful guide, however if you
need any tailored or specific advice please do contact us directly.


7

Demograhics

67% of those surveyed have
nine years or more
post qualification experience (PQE).



Demographics
Gender of respondents

63%

Demograhics

37%

Current PQE level

4% 8-9 years
5% 7-8 years
5% 6-7 years
6% 5-6% years

67%

9 years+

3% 4-5% years
5% 3-4% years

2% 1-2 years

1% 0-1 year

11


2% 2-3 years

7% North America

Location of Respondents


6% Other

7% Latin America



12% Russia

21% UK
10% France

1% Nordics

5% Switzerland

2% Belgium

4% Ireland

4% Germany

2% Spain

1% China
2% Hong Kong

1% Australia
1% Luxembourg

2% Dubai

3% Netherlands

3% Singapore

5% Italy
13


1% India


Job Title
Private Practice
3%

Newly Qualified
Newly Qualified

26%

Associate
Associate

29%

Senior Associate
Senior Associate

13%

Partner
Partner

7%
7%

Managing Partner
Managing Partner
Counsel
Counsel

Job Title

15%

Other
Other
0%
0%

5%

10%
5%

15%
10%

20%

25%
15%

30%
20%

25%

30%

Banking Financial Services
Analyst
Analyst
Associate
Associate

2%
1%
45%

Legal Counsel
Legal Counsel
Assistant
Assistant Vice President

3%

Vice Vice President
President
Senior Senior Vice President
Vice President

7%
10%
17%
15%

General Counsel
General Counsel


Other
Other

0% 0% 5%

10%
5%

10%
15%

15%
20%
25%

20%
30%

25%
35%
40%

30%
45%

35%

40%

45%


Job Title
In-House
Commerce Industry

9%

General Counsel Company Secretary
al Counsel Company Secretary

13%

General Counsel
General Counsel

3%

Chief Legal Officer
Chief Legal Officer

7%

Director
Director

26%

Senior Counsel
Senior Legal Legal Counsel

13%

Legal Legal Counsel
Counsel
Corporate Counsel
Corporate Counsel
Chief Compliance Officer
Compliance Officer
Compliance Officer
Trade Lawyer
Trade MarkMark Lawyer
Patent Attorney
Patent Attorney

Job Title

15%

HeadHeadLegal
of of Legal

1%
1%
1%
1%
1%
9%

Other
Other
0%
0%

5%

10%
5%

15% 10% 20%

25%
15%

30%

20%

25%

3


15


Sector/Discipline
Private Practice
Partner

4%

Energy, Oil Gas
Energy, Oil Gas

21%

Corporate
Corporate

8%
7%

Financial Services
Financial Services
Commercial
Commercial

17%

Litigation
Litigation

3%

Aviation andand Shipping
Aviation Shipping

Sector/Discipline

7%

Intellectual Property/Patent
Intellectual Property/Patent
TMT
TMT

2%
5%

Real Estate
Real Estate

26%

Other
Other
0%

5%

10%

15%

20%

25%

Banking Financial Services
27%

Investment Banking
Investment Banking

24%

Retail Banking
Retail Banking

2%

General Insurance
General Insurance

5%

Hedge Fund
Hedge Fund

14%

Assett Management
Asset Management

3%

Custodian Bnaking
Custodian Banking


Brokerage
Brokerage

1%
5%

Private equity
Private Equity

19%

Other
Other
0%

5%

10%

15%

20%

25%

30


Sector/Discipline
In-House
Commerce Industry

Chemicals
Chemicals
Construction Materials
Construction Materials
Electronic Electronics Electrical Equipment
Electrical Equipment

Sector/Discipline

3%
3%
3%
3%

Aerospace Defence
Aerospace Defence

5%

Food Food Beverages
Beverages

3%

Healthcare Equipment Services
Health Care Equipment Services

2%

House, Leisure Personal Goods
House, Leisure Personal Goods

3%

IndustrialIndustrial Engineering
Engineering

4%

Media
Media

1%
Mining
Mining 1%

New New Media
Media

10%

Pharmaceutical Biotechnology
Pharmaceutical Biotechnology

7%

Oil Gas
Oil Gas

3%
3%

Real Estate
Real Estate
Retailers
Retailers

15%

Technology
Technology

8%

Telecommunications
Telecoms

3%

Transportation
Transportation

Utilities
Utilities

1%
2%
17%

Other
Other
0%

5%

10%

15%

17


Travel Leisure
Travel Leisure


Current Employment
How are you currently employed?
95%

Permanently

5%

Interim/Contract

Current Employment

How long have you been in your current role?
18%

Less than a year

19%

1-2 years

13%

2-3 years

23%

3-5 years

19%

5-10 years

8%

15 years+



Current Employment
How long did it take you to find your current position?
35%

Up to 1 month

29%

1-3 months

18%

4-6 months

4%

7-9 months

Current Employment

6%

10-12 months

5%

1-2 years

3%

Over 2 years

19


Many large organisations have
implemented more efficient recruitment
processes; this has led to
82% of respondents finding a
new role within 6 months.


Current Employment
How did you find your
current position?

1%

Social Media
Network
11% Professional
Network
16% Personal Contact

30%

Recruitment
Consultancy/
Headhunter

10% Internal Promotion

4% Other

Current Employment

11% Advertising (online)
11% Direct Approach

6% Advertising (print)


It is no surprise that a third of
respondents found their current position
through a recruitment agency as this
remains the most popular and effective
method. Surprisingly, only 1%

found a job through Social
Media, such as LinkedIn.


Current Employment
How many hours per week do you work?
1%

21-30 hours

2%

31-35 hours

31%

36-45 hours

36%

Current Employment

46-50 hours

30%

more than 51 hours

It is noteworthy that 58% of legal
professionals working under
35 hours per week are female.

21


Current Employment
How would you rate your current job security?
20%

Very Secure

67%

Secure

11%

Insecure

2%
Current Employment

Very Insecure

Despite market conditions, over 80% of
respondents feel ‘Secure’ in their current
role – perhaps a reflection of the value of
the legal function. Only 61% of HR,


56% of IT and 67% of Marketing
professionals felt the same way.


Current Employment

YES
NO

Would you recommend
your current employer to
a friend?

78%
22%

Current Employment

How has the number of
staff in your department
changed over the past
12 months?
40%

Increased

15%

Decreased

43%

Remained
the same

2%

Unsure

23


A 40% increase in headcount is much
greater than in previous years, perhaps this
was due to the increased confidence we
saw in the market at the beginning of 2011


Bonus

YES
NO

Did you receive a bonus
this year?

Bonus

How was your bonus paid?

72%
28%

3% Other
1% Fully Deferred

83%

Cash

2% Shares/
Options

11% Part Cash/
Part Deferred


Considering media coverage and the concomitant
public outcry of the make-up of city bonuses, it
is interesting to note that 83% of respondents

were paid their bonus in cash.

How did this bonus
differ from last year’s
bonus?
13%

Significantly
Increased

41%

Increased

34%

Remained
the same

10%

Decreased

2%

Significantly
Decreased


Bonus

Bonus

41% received an increased
bonus year on year; this is

receive a bonus in 2012.

25


testimony to the strong belief in a market
recovery earlier in the year, when most
of these bonuses were paid. It is yet to
be seen how many lawyers will


Bonus
What bonus did you receive as a percentage of your annual salary?
15%

Less than 10%
Less than 10%

26%

10-19%
10-19%

22%

20-29%
20-29%

13%

30-39%
30-39%
40-49%
40-49%
50-59%
50-59%

Bonus

60-69%
60-69%
70-79%
70-79%
80-89%
80-89%
90-100%
90-100%
More than 100%
More than 100%

6%
4%
3%
2%
1%
3%
5%

0%
0%

5%

5%

10%

15%
10%

20%15%

25%

20%

25%



Bonus
How would you assess
your level of satisfaction
with your bonus?

13% Highly Satisfied

5% Highly Dissatisfied

59%

Satisfied

Bonus

23% Dissatisfied

27


Whilst the majority of bonuses
remained flat in 2011, 72% of
respondents were ‘Satisfied’ or
‘Highly Satisfied’ with theirs.
Perhaps this is a more realistic
outlook after recent years.


Benefits
Which of the following benefits are included in your current package?

25 Days Holiday
or more

80%

Annual Bonus Scheme

81%

Benefits

Car/Car Allowance

41%
23%

Flexible - Benefits

43%

Flexible Working
Company
Pension Scheme

54%
74%

Insurance
Share Incentive/EMI
Scheme/Option Scheme

34%
N/A

4%

Other

6%



Benefits
Which benefits do you
consider important?

50%

40%

Not important

30%

Quite important
Very important
Vital

20%

Benefits

10%

0%

25 Days Holiday
or more

Share Incentive/
EMI Scheme/
Option Scheme

Annual Bonus Scheme
Car/Car Allowance

Flexible Working

Insurance

Company
Pension Scheme

29


Flexible Benefits


Career Progression
What was the reason for
leaving your last position?

24%

CAREER
CHANGE
23%

42%

CONTRACT
EXPIRED

MORE
RESPONSIBILITY

Career Progression

13%

IMPROVED
BENEFITS
PACKAGE

9%
REDUNDANCY

10%
RELOCATION/
BETTER LOCATION/
EASIER COMMUTE

11%
IMPROVED
BONUS
POTENTIAL

44%

NEW CHALLENGE/
MORE INTERESTING
WORK
18%

BETTER
WORK/LIFE
BALANCE

33%

8%

5%

JOB SECURITY

JOB TOO STRESSFUL

5%
BETTER
TRAINING

ENHANCED
CAREER
PROSPECTS

4%
TRAVELLING

35%

HIGHER
SALARY


Career Progression
Which sources do you consider important when seeking a new role?

9%

National Press
National Press

19%

The Lawyer
The Lawyer

10%

Legal Week
Legal Week
Law Society Gazette
Law Society Gazette

Hong Lawyer
Hong Kong Kong Lawyer
Asian Asian Counsel
Counsel
TheThe Brief
Brief
Other Trade Press
Other trade press

5%
2%
1%
2%
1%
3%
15%

www.thelawyer.com
www.thelawyer.com

21%

www.totallylegal.com
www.totallylegal.com
www.seek.com
www.seek.com

2%
23%

Other Online Job Boards
Other online job boards
T Twitter
witter

Career Progression

Lawyers Weekly
Lawyers Weekly

1%
37%

LinkedIn
LinkedIn
Xing
Xing
Facebook
Facebook

2%
1%
9%

Other Social Networking
Other social networking
Recruitment Consultancies/
onsultancies/Headhunters
Headhunters
Word of Mouth/Personal Referrals/
al referrals/internal contact
Internal Contact

74%

Other
0%

8%

16%

24%

32%

40%

48%

56%

64%

31


58%

72%


Career Progression
Where do you see your
career progressing in law?

4% Other
5% Leaving law altogether

17% Moving into a
different sector of law
e.g. In-House banking,
In-House Commerce
Industry or Private
Practice

51%

Remaining
in the same
sector

Career Progression

23% Changing Industry


Over half of respondents see
themselves remaining in the same
sector in the future, highlighting the
conservative nature of lawyers and possibly how
tricky it is to migrate to another specialism.


Career Progression
Would you consider relocating internationally for a suitably attractive opportunity?

YES
NO

13%
20%

Career Progression

MAYBE

67%

67%

2 in 3 lawyers are willing to
consider relocation; global

33


organisations need to consistently
review their internal opportunities as
part of their retention plans.


Career Progression
Permanent:
If you were considering
a new role (externally),
what would you perceive
to be an acceptable
increase in basic salary?

14% 31% or more

4% 0-4%
14% 5-10%

9% 26-30%
22% 11-15%

Career Progression

14% 21-25%
23% 16-20%

Temporary:
If you were considering
a new role (externally),
what would you perceive
to be an acceptable
increase in basic salary?

10% 31% or more

17% 0-4%

9% 26-30%

15% 21-25%
23% 5-10%


17% 16-20%

9% 11-15%


Career Progression
How are you feeling about the future of the economy over the next 12 months?

Extremely Optimistic

1%
24%

Optimistic

17%

Indifferent

51%

Pessimistic

Other

Career Progression

5%

Extremely Pessimistic

2%

24% are ‘optimistic’ about the
future of the economy in 2012; this reflects a
30% decrease year on year.


35


Outlook
The final question from our survey
asked respondents to comment on
trends they have seen or foresee in the
legal marketplace. As you can imagine,
there were a wide variety of comments
but I have highlighted two issues that
arose most frequently.

International Relocation

Outlook

From the survey results, 67% of
respondents would consider an
international relocation in their next
career move. Perhaps fuelled by a
tightening job market in the US and
Europe, opportunities for lawyers to
relocate to Latin America, the Middle
East or Asia in particular are high on the
agenda, as law firms and multinationals
look to these regions to generate the
growth they desire but are not able to
secure in their home countries.


As an international legal recruitment
specialist, we are often approached
by individuals looking to make such a
move, however it is not always easy to
achieve. Increasingly, employers are
focussing on lawyers who are already
on the ground or, at the very least,
have extensive experience in covering
the region, as well as, quite often,
local language skills. The practicalities
and expense involved in relocating
lawyers from the US or Europe is often
prohibitive. Indeed, most of these
moves occur with the existing employer
in the form of a fixed term secondment.

In 2011, 9.5% of the
respondents left their last position
to relocate. Interestingly,
59% were male and

41% were female.


Outlook
Diversity in the Legal Sector
Women, ethnic minorities and LGBT (lesbian, gay, bisexual and transsexual)
employees are well represented amongst In-House lawyers; the same cannot be
said for Private Practice. Compare how many women General Counsel (or CEOs
for that matter) you know against the number of female Managing Partners of law
firms.

Outlook

A fundamentally different picture exists between In-House legal teams where
the lawyers work directly for the business, and Private Practice lawyers. Indeed,
a recent Laurence Simons poll looking at a cross-section of more than 1,900
In-House lawyers found that women accounted for 39% of UK In-House
lawyers, ethnic minorities made up 35% and 7% were LGBT, which is 1% above
government figures for the UK population as a whole.
However, these groups find it more difficult to secure positions in the top law firms
and are in effect channeled In-House. As a result, while the demographic make-up
of In-House lawyers is changing for the better, Private Practice is not. If the legal
profession is not to be left behind and seen as anachronistic, more efforts must be
made to change this exclusive culture in law firms, so that they embrace diversity
and reflect social demographic trends in the country as a whole.

Naveen Tuli
Global Managing Director
naveen.tuli@laurencesimons.com

37


Fair representation is alive and well
amongst In-House lawyers.

London
 london@laurencesimons.com
 +44 (0)20 7645 8500
 High Holborn
322
London WC1V 7PB

London
51° 30’ N
0° 30’ W

UK


Private Practice
Overview

Private Practice

Salaries have been the subject of much
debate this year amongst all firms. With
the economy seeming to make positive
steps at the start of 2011 there was much
anticipation as to how this perceived
recovery was to impact Associate salaries
throughout the market. The debate
clearly continues in uncertain times
once again. Many salaries were frozen
in 2008 and have seen little movement.
These findings are accurate and the
ranges reflect those firms that have
increased their Associate salaries as well
as those that have remained static.
There are positives to note throughout
these findings and the market generally.
2011 may have been a year of two
halves; however, with many law firms
posting increases in both revenues
and PEP all is certainly not the doom
and gloom experienced in previous
years. 2012 could tell another story
with some areas recovering faster than
others (e.g. Regulatory). Mainstream
transactional areas at certain firms are
also seen to be busy and getting busier.


Private Practice

There does seem to be a discretionary
element when it comes to salary, with
some firms paying more to attract

and retain the best talent.


41


Private Practice
Magic Silver Circle Firms
Certain trends and facts need to be
considered when analysing these salary
ranges. Firstly, the biggest trend to
emerge in 2011 is the merit-based pay
system which has been entering the
market slowly over the past few years.
We are now seeing more and more firms
implementing this remuneration structure.

Private Practice

There can be a number of reasons as to
why this is becoming more popular with
law firms. Whilst it is unlikely to replace
the traditional PQE based system, it gives
law firms the advantage to effectively
pay Associates what they are worth.


This can be viewed as a double edged
sword for Associates. It is possible to
earn above your PQE band if you are both
exceptionally technical and commercially
minded, however if this is not thought to
be the case, you are in danger of earning
comparatively less than you were before
the merit-based system was put in place.
Similarly, there is no more hiding behind
billable hours and an emphasis has been
put on adding value, both to the client
and to the firm. In addition, by switching
to the merit-based system, law firms are
seen to be catching up from the static
salaries that were seen in 2008 and 2009.

Private Practice – Magic Circle
PQE

Median Salary Range

NQ

£61,000 - 61,500

1

£68,000 - 69,000

2

£75,000 - 77,000

3

£85,000 - 88,000

4

£92,000 - 97,000

5

£95,000 - 110,000

6+

£110,000+

Private Practice – Silver Circle
PQE

Median Salary Range

NQ

£60,000 - 64,000

1

£64,000 - 70,000

2

£70,000 - 78,000

3

£76,000 - 86,000

4

£82,000 - 90,000

5

£88,000 - 95,000

6+

£90,000+


Private Practice
City West End/Niche Firms

Despite seeing a slowdown in some
recruitment activity during the second half
of 2011, there appears to remain a need
for the elusive mid-level Associate, as
well as those that are able to effectively
hit the ground running and in addition,
are not expecting Partnership in the next
three years. For this reason, there does
seem to be a discretionary element when
it comes to salary, with some firms paying
more to attract and retain the best talent.
Additionally bonuses, or lack thereof,
have led some firms to compensate
salaries by going above and beyond
for top Associates within the market.

PQE

Median Salary Range

NQ

£56,000 - 62,000

1

£62,000 - 67,000

2

£66,000 - 70,000

3

£68,000 - 77,000

4

£72,000 - 80,000

5

£78,000 - 86,000

6+

£80,000 - 95,000

Private Practice

Another trend has been an increase in
mergers during 2011, whereby US and
UK counterparts have married to form
transatlantic firms. In terms of salaries,
Associates have either won or lost
depending on which side of the Atlantic
their employer sat pre-merger. Some firms
have decided to keep the US salaries and
amend the UK pay respectively, whilst
others have found a medium ground
between the two. Generally these firms
have been seen to pay ‘City’ rates.

Private Practice – City

Private Practice – West End/Niche
PQE

Median Salary Range

NQ

£45,000 - 55,000

1

£50,000 - 60,000

2

£55,000 - 65,000

3

£60,000 - 70,000

4

£65,000 - 75,000

5

£70,000 - 75,000

6+

£75,000+

43


The West End and Boutique firms
have held their ground when it comes
to salaries; attracting Associates
as a result of their quality of clients,
smaller teams (and therefore greater
responsibility and potentially Partnership
prospects) and work-life balance.


Private Practice
NY Rates
Our data shows that NY pay rates of
elite US firms continue to soar above
that of top UK payers. The most startling
comparison comes when looking at the
increasing number of US firms paying
NQs starting salaries of £100,000. This
high level of remuneration is only reached
by Magic Circle Associates in their fifth
year of post qualification experience.

Private Practice – NY Rates
PQE

Median Salary Range

Private Practice

Furthermore, following on from earlier
observations regarding the transatlantic
merger firms difficulties in unifying
differing levels of pay between the
US and UK based firms, it seems
reasonable that NY firms should maintain
a level of continuity between Associate
salaries in the US and London (they
are after all part of the same firm).

£88,000 - 100,000

1

£94,000 - 109,000

2

£100,000 - 116,000

3

£112,000 - 125,000

4

£127,000 - 138,000

5

Commentaries in the media tend to
cast criticism on the NY firms for what
is deemed to be an overpayment of
Associates at the junior end. However
with continued growth and expansion
(some firms have increased headcount by
as much as 50%) in the past year, these
firms seem well placed to justify the value
that they put on Associates at all levels.

NQ

£130,000 - 152,000

6+

£150,000+

A merit based
pay system also provides
a tool for attracting talented
Associates.



Private Practice
Mid-Atlantic Rates

PQE

Median Salary Range

NQ

£68,000 - 75,000

1

£70,000 - 83,000

2

£78,000 - 88,000

3

£86,000 - 98,000

4

£92,000 - 110,000

5

£110,000 - 125,000

6+

£125,000+

Private Practice

In the past 18 months a number of
Mid-Atlantic firms have moved into a merit
based pay structure. Whilst some have
argued this is symptomatic of the fall out
in pay from the recession, others have
argued that it is a reflection of the firms
more commercial outlook on remuneration.
A merit-based pay system also provides
a tool for attracting talented Associates
who may also be considering firms paying
NY rates. It is a system whereby the
most ambitious and talented Associates
can truly thrive and be recruited at higher
levels than previously possible, when
following strict PQE based pay bandings.

Private Practice – Mid-Atlantic Rates


45


Private Practice
Offshore Firms
The Offshore market is increasingly
becoming one of much activity and
interest. Laurence Simons Offshore
service extends throughout the region
including: the Cayman Islands, BVI,
Bermuda and the Channel Islands (please
note that the Hong Kong and Dubai
markets are covered by our local offices).

Private Practice

With favourable tax regimes and
a lifestyle a world away from the
changeable and inevitably bad weather,
long commutes and political quagmire,
the offshore jurisdictions offer a
different and exciting alternative.

Salaries are generally very favourable,
although there are a few factors to
consider when looking at the various
locations. The Cayman Islands offer
generous starting salaries, for three
years PQE (necessary for the visa
requirements) salaries range anywhere
from USD 130,000 upwards, depending
on the firm and relocation package.
Salaries in the BVI tend to be slightly
less, however this is reflective of the
overall living costs of the islands,
which do tend to be less expensive.
At the Senior Associate level salaries
can be in excess of USD 200,000.

Clearly due to the fact that many of
the Offshore firms recruit from the UK,
the London salary survey is a useful
benchmark for these markets. It should
however be noted that there is also
quite a lot of movement between
Offshore firms and jurisdictions, and
this appears to be an increasingly
positive trend moving into 2012.


Private Practice

Laurence Simons Offshore service
extends throughout the region including:

the Cayman Islands, BVI,
Bermuda
the Channel Islands.


47


Banking Finance
The first half of 2011 saw the Banking
and Financial Services recruitment market
remain active. During the second half of
the year, the slow recovery stalled due to
strain in the Eurozone which has led to a
sharp drop in the level of vacancies as a
whole, however key hires remain constant.

In-House Banking – Investment Banking
PQE

Median Salary Range
£51,000 - 60,000

2-3

£61,000 - 84,000

4-5

£79,000 - 98,000

In the Investment Banking arena dominant
areas of recruitment during 2011
were: Derivatives, Prime Brokerage,
Commodities, Funds and Regulatory. A
number of institutions have started to take
an initiative within the OTC clearing space
as the pressure of increasing regulation
within the area started to take its toll.
This is expected to continue in 2012
with a higher demand for these skills.

6-7

£97,000 - 121,000

8-9

£119,000 - 132,000

10+

£128,000 - 151,000

0-1

£48,000 - 54,000

Unsurprisingly, with continued media
attention and pressure, salaries have
remained flat within Investment Banking.
Expectations around bonuses remain
pessimistic, although highly skilled and
valued candidates are still receiving a good
level of compensation and are expected
to be rewarded suitably in the face of
continued competition for their skills.

Banking Finance

0-1

2-3

£54,000 - 64,000

4-5

£64,000 - 84,000

6-7

£80,000 - 92,000

8-9+

£90,000 - 135,000

10+

£120,000 - 135,000


Due to increased regulations (UCITS
IV, AIM Directive and Dodd Frank Act)
within the Funds sectors, there are
more onerous requirements on Asset
Managers than ever before. This certainly
explains the demand throughout 2011
for Fund lawyers to advise on regulatory
issues, in addition to products. As
a sought after skill set in this sector,
salaries have increased to reflect this.
Demand is set to continue into 2012.

Head of Legal

£150,000+

In-House Banking – ISDA Negotiators/Lawyers
PQE

Head of Legal

Median Salary Range

£145,000+

In-House Banking – Asset Management/Funds
PQE

Median Salary Range

0-1

£54,000 - 61,000

2-3

£60,000 - 74,000

4-5

£74,000 - 83,000

6-7

£82,000 - 94,000

8-9

£92,000 - 112,000

10+

£115,000 - 125,000

Head of Legal

£125,000+


Banking Finance
within this huge sector, transferrable
skills are few and far between and hiring
managers are willing to wait for candidates
with the right skill sets and experience.
Whilst the European bail out takes
effect, the Banking market is likely to
remain fairly stagnant for the first quarter

of 2012. Apprehension will remain in
the market thus affecting hiring and
normal turnover. Hiring is expected
to increase in the second quarter of
2012 and the demand for candidates
within Derivatives, Prime Brokerage,
Commodities, Funds and Regulatory will
remain a key focus for those recruiting.

In-House Banking – Retail
PQE

Banking Finance

With a relatively smaller number of
major players operating in the UK Retail
Banking sector, the battle for key talent
remains fierce with firms prepared to pay
higher salaries for exceptional lawyers
who have worked extensively in this
area. Furthermore, as the Regulatory
environment continues to present new
challenges, there remains a consistent
demand for high quality Regulatory
lawyers at all levels. The outlook for
2012, whilst cautious, looks positive
with Retail Banks intending to make key
strategic hires and those candidates with
a proven, successful track record in Retail
Banking remaining in high demand.

Median Salary Range

0-1

£48,000 - 56,000

2-3

£55,000 - 64,000

The insurance recruitment market has
been buoyant throughout 2011. The
biggest volume of vacancies has been
around the two to five PQE level as
legal departments looked to bolster
their Commercial and Regulatory
expertise. Despite the relatively high
levels of recruitment taking place,
salaries remained stable as companies
maintained a cautious approach
throughout the year. This was reinforced
as firms typically chose to recruit directly
from Private Practice, rather than from
their competitors where they can often
expect to pay inflated salaries.

4-5

£65,000 - 83,000

6-7

£84,000 - 97,000

8-9

£95,000 - 103,000

10+

£102,000+

Head of legal

£122,000+

The Banking and Financial Services market
has historically always been a candidate
short market and 2012 will be no different.
Due to the diverse nature of most roles

In-House Banking – Insurance
PQE

Median Salary Range
£50,000 - 57,000

2-3

£56,000 - 64,000

4-5

£64,000 - 82,000

6-7

£80,000 - 94,000

8-9

£90,000 - 99,000

10+

£98,000+

Head of legal

£118,000+

49


0-1


In-House – Overview


2011 began positively in almost all
sectors across Commerce and Industry
worldwide, including the UK. The cautious
optimism of 2010 developed into a more
expansive strategy in 2011 and saw
healthy levels of recruitment, particularly in
the first half of the year. Notable pockets
of activity were seen in Technology,
Media and Telecommunications (TMT),
where the rapid pace of digitisation and
general convergence continued. 2011
also witnessed further consolidation of
companies in the Life Sciences sector
resulting in a review of existing resources;
and despite a strong start to the year,
2011 saw a decline in activity in consumer
facing corporates as consumer confidence
was eroded and austerity policies in the
Eurozone continued to be explored.


2011 saw modest increases in basic
salary at inflation levels or less for lawyers
across most industry sectors. Basic
salary levels remained highly dependant
on location, skills, training and seniority.
Companies increasingly sought candidates
with strong international profiles, including
fluency in one or more language and/
or multi-jurisdictional skills. Despite
the size and complexity of In-House
legal departments, basic salary levels
remained behind that of Private Practice
in most sectors; however the value of
total compensation (including corporate
benefits) was positively received in 2011.

As a result of the turbulent economic
climate in the UK and internationally, it
is particularly difficult to anticipate what
lies ahead in 2012. Lawyers with core
skills in some areas, for example the Life
Sciences sector, are expected to continue
to command competitive remuneration as
this sector remains largely unaffected by
macroeconomic factors. Some disciplines
remain more ‘popular’ than others, for
example, Compliance is a growing
pervasive specialism and we expect to
see increased demand for lawyers with
knowledge and expertise in this area.

Undoubtedly, as 2011 draws to a
close we have begun to witness
some slowdown. Going forward,
we anticipate many In-House legal
departments will reduce external
legal spend rather than resorting to
headcount reductions. It is anticipated
that companies and candidates alike
will tighten key criteria, preferring to
be more exacting in their recruitment
requirements. We envisage salaries
remaining fairly static throughout 2012
however, even at the most senior levels.

PQE

Median Salary Range

0-1

£42,000 - 50,000

2-3

£50,000 - 60,000

4-5

£60,000 - 73,000

6-7

£73,000 - 83,000

8-9

£84,000 - 94,000

10-11

£98,000 - 113,000

12-13

£105,000 - 123

14-15

£130,000+


In-House – Life Sciences
The Life Sciences market in the UK
has experienced a consistent flow of
opportunities at all levels during the course
of 2011. This is despite the continuous
trend of large mergers, and the knock-on
effect of integration and re-organisation.

PQE

Median Salary Range

0-1

£42,000- 47,000

2-3

£50,000 - 60,000

4-5

£62,000 - 75,000

6-7

£73,000 - 82,000

8-9

£82,000 - 89,000

10-11

£90,000 - 104,000

12-13

£102,000 - 115,000

14-15

£118,000+

Head of Legal
General Counsel


Client feedback indicates that headcount
has not been adversely affected by
turbulent market conditions however; it is
worth countering this with the fact that a
large majority of the roles Laurence Simons
have recruited for within this sector have
been replacement hires rather than new
positions being created. It is anticipated
that this trend will continue into 2012.


£93,000 - 155,000
£195,000+

Candidate supply within the Life Sciences
industry is especially short at the junior
to mid-level, with only a few having the
niche market experience required by
so many clients. There has been an
increase of specialist skills in demand
from an early stage, a contrast to more
generalist roles less than five years ago.
As a consequence mid-level
lawyers are currently warranting a
premium, as demand at this level
continues to outweigh supply.


51


In-House – Energy
Although the current economic situation
has weighed heavily on all sectors,
the Energy industry as a whole has
held up relatively well in 2011.
High oil prices underpinned by
strong fundamentals have ensured
that opportunities remain within Oil
and Gas, notwithstanding recent
political and regulatory setbacks
such as the Chancellor’s windfall tax
imposed on North Sea exploration.

In-House – Energy

Turnover in the wider Energy sector,
and particularly UK Utilities companies,
tends to be lower due to job stability
and the geographical disparity between
competitors. This in turn has a
knock-on effect on the number of roles
available within the UK, as well as on
salary levels which have remained
largely static for another year.
Whilst Renewable and Alternative Energy
companies are seen as being the big
hope for the future, we are not currently
seeing this translating into substantial
legal hiring but, by contrast, recruitment
activity in Energy Trading appears to
be relatively buoyant with a consistent
demand for lawyers to support this area.

Although there can be no denying that this
is an uncertain time for the Energy sector
with a variety of complex issues including
the Eurozone debt crisis and the Arab
Spring expected to continue to impact
on the market in 2012, the Energy sector
is likely to remain resilient. Salaries are
generally higher than in other industries
and demand for lawyers is expected to
remain, albeit that some areas within the
sector are likely to fare better than others.

In-House – Energy
PQE

Median Salary Range

0-1

£48,000 - 55,000

2-3

£55,000 - 64,000

4-5

£63,000 - 78,000

6-7

£77,000 - 94,000

8-9

£94,000 - 111,000

10-11

£108,000 - 134,000

Head of Legal

£135,000 - 190,000

General Counsel

£250,000+



In-House – FMCG Retail
FMCG and Retail companies are
heavily reliant on consumer confidence
which typically lags economic recovery.
Accordingly, 2011 has been a year
of two halves as early optimism has
subsequently given way to a renewed
recognition of the economic difficulties
we are currently facing, as evidenced by
the Consumer Confidence Index which
has fallen for the fifth month in a row.

PQE

Median Salary Range

0-1

£42,000 - 48,000

2-3

£47,000 - 60,000

4-5

£59,000 - 72,000

6-7

£71,000 - 85,000

8-9

£84,000 - 97,000

10-11

£95,000 - 116,000

Head of Legal

£110,000 - 133,000

General Counsel


As is always the case, some companies
have fared substantially better than others
with multinationals exposed to emerging
markets, luxury brands and companies
providing consumer staples tending
to come out ahead. Recruitment has
continued although has mostly been
limited to replacement rather than growth
and as a consequence, salaries and
benefits have remained largely static.


£148,000+

Looking ahead, it is clear that a
wholesale change in the overall fortune
of the FMCG and Retail sector will
really only come about following a
substantial shift in consumer spending,
which in turn is only likely following
sustained economic recovery.


53


In-House – Traditional Media
As a whole, the Media sector continued
to go through substantial changes
in 2011 with Traditional Media losing
momentum and continuing to shrink whilst
advertising companies lost revenues.
The strongest growth was evident in
the digital arena, the most positive
trend likely to continue into 2012.


Nonetheless, Media continues to be
a popular choice from a candidate
perspective. A large number of Media
companies are located in Central London,
making it more appealing, however
entrance into this sector continues to
be something of a ‘closed shop,’ and
competition for roles remains fierce.
Economic uncertainty has definitely
had an impact on the Media sector
in recent times and in particular in
late 2011. Appointments in this area
were found to be replacement roles,
rather than new hires. Recently we
have seen an increase in demand for
interim appointments as companies
struggle to gain approval for permanent
headcount. It is envisaged that this trend
will follow through in 2012, although
exactly how much remains unclear.


Salaries have remained at the lower
end of market rate with nominal or
no pay increases in recent years and
few anticipated in 2012. The gap
between Private Practice and In-House
remuneration remains most significant
in the Traditional Media sectors.

PQE

Median Salary Range

0-1

£40,000 - 48,000

2-3

£48,000 - 61,000

4-5

£58,000 - 71,000

6-7

£70,000 - 82,000

8-9

£80,000 - 91,000

10-11

£90,000 - 106,000

12-13

£105,000 - 118,000

14-15

£121,000+

Head of Legal
General Counsel

£90,000 - 155,000
£150,000+


In-House – Technology, Media Telecommunications (TMT)
Whilst the TMT sector is by no means
recession proof, it is generally regarded
as a pervasive discipline and 2011
demonstrated this with reasonably high
levels of positive recruitment activity
throughout the course of the year.

In 2011 developments in the cloud
computing, mobile applications
and competitive devices arena saw
multinational companies compete to

Digital and e-Commerce lawyers
continued to be desirable at all levels,
attributed to the continued expansion of
online businesses, payment technologies
and social media companies. In 2011 we
saw a number of first time appointments,
particularly in the latter sector and
expect to see more in the future.

Overall, appetite for highly commercial and
technically specialised lawyers in 2011
remained relatively high, however besides
the exceptions outlined, basic salaries
and corporate benefit packages remained
fairly constant throughout the year. It is
anticipated that recruitment practices,
including compensation discussions in
2012 are likely to be approached with
some caution, with companies preferring
to protect and retain existing teams and
restricting recruitment to replacement
appointments rather than growth.

In-House – Technology, Media Telecommunications (TMT)

Notably, IT consultancies and multinational
service companies increased their
demand for IT/Outsourcing lawyers –
outsourcing skills remaining a priority
as a means of improving business
efficiencies. As a result, high calibre
mid-level candidates were frequently
sought, though not easily found and
those that were successful sometimes
received a salary premium as a result.

attract suitably qualified candidates from
a relatively small talent pool. Candidates
with skills in these areas were very much
in demand and able to be selective,
at times, with their career choices.

Advancements in the Technology and
Telecommunications sectors saw
increased EU regulation in 2011 which in
turn, led to a boost for Regulatory lawyers
and Compliance professionals. Another
trend we expect to see more of in 2012.

In-House – TMT
PQE

Median Salary Range
£45,000 - 52,000

2-3

£52,000 - 65,000

4-5

£58,000 - 73,000

6-7

£75,000 - 85,000

8-9

£85,000 - 93,000

10-11

£87,000 - 108,000

12-13

£110,000 - 134,000

14-15

£128,000+

Head of Legal
General Counsel

£110,000 - 155,000
£180,000+

55


0-1


In-House – Compliance
Recruitment within the Compliance
area has continued to grow over the
last year. Many companies have made
significant structural changes to develop a
standalone Compliance function and this
trend is likely to continue into 2012. Many
multinational organisations view this move
as best practice, with the ever increasing
spotlight on Compliance functions
following recent investigations and in
some cases prosecutions, across most
sectors within Commerce and Industry.


Growth has however been steadier
than predicted, with the anticipated
spike following the UK Bribery Act being
balanced by the cautious approach
to the market by many clients.

The demand for first time European Head
of Compliance roles continues and we
do not anticipate this to drop in 2012.
Many roles have been recruited at more
junior levels (typically from two to five years
PQE), however many more roles are being
recruited from within, as organisations
are keen to develop from a diversity of
backgrounds who already have strong
commercial awareness of the organisation.

Remuneration for those working within
Compliance will continue to rise in-line with
the increasing importance and elevation
of the discipline and the demand for
talent. This can typically be from 10%
to 30%. For more senior and strategic
roles, candidates, whether from legal
backgrounds or not, are being paid
in-line with, or in some cases, more than,
commensurate In-House Counsel roles.

As this area develops, the number of
suitably qualified candidates based in
Europe has also continued to rise but
the available pool of talent at the more
junior to mid-level remains a challenge.

PQE

Median Salary Range
£32,000 - 45,000

2-3

£38,000 - 55,000

4-5

£51,000 - 75,000

6-7

£68,000 - 82,000

8-9

£73,000 - 90,000

10-11


0-1

£87,000 - 110,000

12-13

£105,000 - 125,000

14-15

£125,000+

EMEA Compliance Director

£75,000 - 180,000
£200,000+


IP Patent Attorney Trade Mark Attorney
Patent attorneys are still very much in
demand particularly at the level of newly
qualified to five years PQE where skills
are at a shortage across all sectors.
The number passing EQEs to become
European Patent Attorneys (EPAs)
has grown in 2011 but not enough
to satisfy the increasing demand. We
continued to see multinationals appointing
their first European Patent Attorneys,
seeking out the expertise from those
previously in more established teams.

Patent Attorney
Level of Experience

Median Salary Range

Trainee Patent Attorney

£20,000 - 29,000

PQ Patent Attorney

£27,000 - 41,000

Finalist Patent Attorney

£39,000 - 53,000

Patent Attorney 5 years

£51,000 - 75,000

Patent Attorney 5-10+ years

£68,000 - 91,000+

Head of Department

£89,000 - 135,000

Trade Mark Attorney
Level of Experience

Median Salary Range

Trainee Trade Mark Attorney

£20,000 - 26,000

PQ Trade Mark Attorney

£23,000 - 34,000

NQ Trade Mark Attorney

£33,000 - 45,000

Trade Mark Attorney 5 years

£44,000 - 66,000

Trade Mark Attorney 5-10+ years
Head of Department

£61,000+
£73,000 - 117,000+

57


The salary bandings only reflect an
indication of salaries for candidates in
the intellectual property arena and can
vary considerably. Much will depend on
each candidate’s specific experience,
technical background, industry sector
and geographic remit. Patent Attorneys
are required to have a technical degree
and therefore their deeper level of
technical expertise goes some way
in explaining why they are able to
command higher salaries than their Trade
Mark counterparts. Typically in industry
the years of actual practical relevant
experience may be considered alongside
the actual exam qualification dates.

IP Patent Attorney Trade Mark Attorney

The market for Trade Mark Attorneys
especially at the mid to senior level
continued to be tight, as relevant industry
experience also comes at a premium.

Positions in industry include benefit
packages which tend to become more
generous at the more senior level and
will commonly include some, or all
of the following: discretionary bonus
scheme, car allowance, healthcare
plan, life insurance, pension and share
option scheme. Sign on bonuses
may sometimes be considered as
an incentive. Benefits have remained
relatively static over the past three years.


Dublin
 dublin@laurencesimons.com
 +353 (0)1669 8522

Fitzwilliam Hall
Leeson Street
Dublin 2


Dublin
53° 20’ N
06° 15’ W

Ireland


Ireland
In-House
2011 saw several strong pockets of
recruitment activity in the Irish market,
particularly within Financial Services,
Aviation Finance and the Funds arena.
Candidates have tended to earn higher
salaries due to a short supply of talent
within these areas and it is likely that
this trend will continue into 2012.

Ireland

There has been an influx of hiring within
General Banking as a result of NAMA
related work. The Energy and Insurance
sectors remain steady. Commerce and
Industry has seen a smaller degree
of growth and this is largely due to
the lack of movement in this area as
a result of the reduced number of
new roles. Opportunities across the
board have tended to be at a mid to
senior level. Candidates at the more
junior end saw fewer opportunities
available in 2011 and therefore there
was less movement at this level.
There has been an increase in the number
of Compliance roles which has resulted in
a number of lawyers undertaking diplomas
in this area to enhance their skill set.

In-House – Ireland
PQE

Median Salary Range

0-1

€45,000 - 50,000

2-3

€55,000 - 70,000

4-5

€70,000 - 80,000

6-7

€80,000 - 90,000

8-9

€90,000+

10-11

€100,000+

Head of Legal

€120,000 - 150,000

General Counsel

€150,000 - 170,000



Ireland
Private Practice – Ireland

Private Practice

Areas such as Corporate, Tax and
Litigation traditionally pay 10% less than
Banking, Corporate Insurance and Funds,
unless there is a strategic requirement to
pay more.

Banking, Funds Insurance

All Other Sectors

Median Salary Range

Median Salary Range

NQ

€50,000 - 60,000

€40,000 - 50,000

1

€60,000 - 70,000

€50,000 - 60,000

2

€65,000 - 80,000

€55,000 - 65,000

3

€75,000 - 90,000

€70,000 - 80,000

4

€80,000 - 95,000

€75,000 - 85,000

5

€85,000 - 100,000

€80,000 - 90,000

6+

€90,000 - 115,000

€85,000+

€120,000+

€120,000+

PQE

Salaried Partner

Ireland

Generally speaking, salaries in Ireland have
remained fairly stagnant over the last two
years. However, in areas such as Banking,
Funds and Corporate Insurance, firms
have been paying outside the standard
salary bands as a measure of securing
and retaining talent in a competitive market.
An introduction of new firms to the Irish
market has increased the demand for talent
and as a result, these firms have offered
competitive salaries to attract candidates.

Traditionally it has been the norm for
employees within Private Practice to receive
minimum bonuses, however this trend has
changed in that bonuses are now based
entirely on merit and only those performing
well are being rewarded accordingly.
61


We have also seen an increasing number
of candidates at the two to four PQE
level moving to London and Offshore,
following the demand for talent among
Magic Circle, Silver Circle, US and
Offshore firms, particularly in the areas of
Banking, Corporate and Funds. There is
also a strong desire from the mid-level
Associates to move out of Ireland due to
the current economic situation, and seize
the opportunity to gain some international
experience and exposure to larger
transactions.

Laurence Simons Salary Survey 2011

Paris
 paris@laurencesimons.com
 +33 (1) 5652 9201

Louis Vuitton Building
101 Avenue des Champs Elysées,
Paris 75008, France


Paris
49° 01’ N
02° 32’ E

Current Employment

France


France
In-House
Post 2009, the French In-House legal
recruitment market picked up relatively
quickly and has since remained stable.
French qualified lawyers continue to be
desirable within the market and where
internationally qualified candidates
are considered, fluency in French
generally remains a pre-requisite.

In-House – France
PQE

Median Compensation Range

France

n/a

2-3

€45,000 - 58,000

4-5

€58,000 - 71,000

6-7

€70,000 - 83,000

8-9

Candidate attraction remains a key focus
for In-House especially at the mid to
senior level (seven to ten years PQE) with
commercial or corporate expertise. We
have witnessed an increased job flow
within the IT, Technology and Life Sciences
sectors and as a result the demand for
candidates with relevant sector experience
has also increased. For the foreseeable
future, we would expect compensation
to remain similar to 2011 levels.

0-1

€81,000 - 91,000

10-11

€88,000 - 104,000

12-13

€94,000 - 113,000

14-15

€112,000 - 135,000

16-20

€124,000 - 146,000

21+

€140,000+



France
Private Practice

Demand in 2011 has been consistent
across Tax, Employment, Regulatory,
Litigation and Insolvency. Following
a drop in 2009/2010 of Finance and
Capital Market lawyers; an increase of
opportunities within this space across
all types of firms in 2011 was a positive
change.

It is difficult to anticipate what Corporate
lawyers can expect in 2012, however if
2011 is anything to go by, an increase in
MA and Private Equity deals in France will
facilitate movement within this space.
Growth within emerging markets has led to
an increased demand for candidates from
Project Finance, Energy and Infrastructure
backgrounds. A particularly exciting
emerging market is Africa and recruitment
for this region is often handled by firms
based in Paris.

France

The compensation data is a representation
of remuneration paid by law firms in Paris,
predominantly made up of data from the
50 largest firms. Lawyers at smaller firms
in Paris and law firms throughout the
rest of France are likely to notice some
discrepancies in compensation and
can typically be between 10% and 20%
lower. Compensation in Paris tends to be
tiered, with US firms paying the highest
compensation, UK firms following closely
behind and national firms paying the least
of the three which explains some of the
wider salary bands in the table below.

For many firms bonuses have remained
the same since the decrease in 2008 and
in some cases have been non-existent.

Private Practice – France
Top 50 law firms in Paris (US, UK French Firms)
PQE

Median Compensation Range
€60,000 - 65,000

2

€67,000 - 72,000

3

€75,000 - 80,000

4

€85,000 - 90,000

5

€95,000 - 100,000

6

€110,000 - 115,000

7

€125,000 - 135,000

8

€140,000 - 150,000

Counsel

€160,000 - 200,000

Partner

£250,000+

65


1


Rome

rome@laurencesimons.com




Rome
41° 54’′N
12° 30’′E

Italy


Italy
In-House
Towards the end of 2011, the Italian
Private Practice market became relatively
quiet in comparison with other European
countries. There was a noticeable
decrease in the number of job openings
and as a result, an increase in the number
of candidates looking to move or relocate.

Italy

Many law firms have begun to restructure
and reorganise themselves, moving
from the more traditional set-up to a
business orientated approach to law firm
management. The Partnership track is
under review and as a result Partners
are being asked to leave. Consequently,
a large proportion of senior lawyers are
seeking to move into In-House roles,
a difficult move to make in the current
climate. Alternatively, we have seen
a number of Partners who have left

big firms to set-up their own individual
practices, causing the market to become
more fragmented and competitive.
Within the In-House market the demand
has however remained relatively
consistent, as multinationals still need
to have a local Legal Counsel to bridge
cultural and legislative differences. IT and
Technology industries have been recruiting
more than others in Italy. Such experience
will stand candidates in good stead in
2012. Whilst we have noticed a marked
increase in candidates with experience in
Banking and Finance looking to make a
move, there continues to be a shortage of
high calibre lawyers with more generalist
commercial backgrounds. Salaries are
likely to stay constant through 2012.

In-House – Italy
PQE

Median Salary Range
€29,000 - 38,000

2-3

€38,000 - 52,000

4-5

€55,000 - 63,000

6-7


0-1

€62,000 - 70,000

8-9

€69,000 - 85,000

10-11

€86,000 - 100,000

12-13

€99,000 - 114,000

14-15

€110,000 - 124,000

16-20

€118,000 - 149,000

21+

€155,000+

Italy

We have seen a number of Partners
who have left big firms to set
up their own individual practices,
causing the market to become more
fragmented and competitive.


69


Madrid

madrid@laurencesimons.com




Madrid
40° 24’′N
03° 41’′W

Current Employment

Spain


Spain
In-House – Spain

In-House
The Spanish economy is one of the
worst hit by the economic crisis and
currently has a very high unemployment
rate. As a result, it can be expected
that there will be no salary movement in
2012 and clients are likely to proceed
with caution when it comes to new
hires and recruitment in general.

PQE

Median Salary Range

0-1

n/a

2-3

€33,000 - 47,000

4-5

€42,000 - 61,000

6-7

€54,000 - 64,000

8-9

€62,000 - 71,000

Spain

Spain

Businesses in some of Spain’s

fastest growing sectors hope to
maintain their workforces whilst

expanding into new markets.


73


Amsterdam
 amsterdam@laurencesimons.com
 +31 20 520 6812
 Keizersgracht 62-64
1015 CS, Amsterdam


Amsterdam
52° 18’ N
04° 46’′E

Benelux


Benelux
The economic uncertainty experienced in
Q4 of 2011 reduced business confidence,
which in turn slowed down new hiring
across the Benelux regions. Law firms
and companies continue to recruit, albeit
more tentatively than in the earlier months
of 2011. This is mitigated somewhat
by the fact that the region is in relatively
better shape than some of it's European
counterparts; thanks to a prudent fiscal
policy, a competitive workforce and the
open nature of the economy.

Benelux

Similar to most other European countries,
the Benelux region is uncertain about what
to expect in 2012 due to the state of the
broader economy. It is believed that 2012
will revolve more around candidates with
specialist expertise rather than generalists.
An emphasis is likely to be placed on
matching the right candidate to the right
role. Although this sounds clichéd, we
are experiencing long and demanding
recruitment processes in order to ensure
the perfect person is found for the role.
Similarly, candidates want to be reassured
that the company they are moving to is
both financially sound and willing to invest
in their future.

In-House – Netherlands

PQE

Median Salary Range

0-1

€26,000 - 34,000

2-3

€45,000 - 59,000

4-5

€60,000 - 68,000

6-7

€68,000 - 75,000

8-9

€80,000 - 94,000

10-11

€90,000 - 103,000

12-13

€100,000 - 118,000

14-15

€135,000 - 156,000

16-20

€143,000 - 162,000

21+

€152,000+

Private Practice – Netherlands

PQE

Median Salary Range
€30,000 - 40,000

2-3

€40,000 - 50,000

4-5

€60,000 - 75,000

6-7

€60,000 - 90,000

8-9


0-1

€70,000 - 100,000

10-11

€80,000 - 130,000

12-13

€95,000 - 180,000


Benelux
In-House – Belgium
PQE

Median Salary Range
€27,000 - 34,000

2-3

€35,000 - 44,000

4-5

€45,000 - 60,000

6-7

€60,000 - 73,000

8-9

€72,000 - 82,000

10-11

€82,000 - 95,000

12-13

€94,000 - 109,000

14-15

€108,000 - 134,000

16-20

€135,000 - 152,000

21+

Benelux

0-1

€150,000+

In-House – Luxembourg
PQE

Median Salary Range
€25,000 - 36,000

2-3

€34,000 - 47,000

4-5

€47,000 - 60,000

6-7

€58,000 - 70,000

8-9

€71,000 - 94,000

10-11

€92,000 - 107,000

12-13

€105, 000 - 119,000

14-15

€118,000 - 134,000

16-20

€132,000 - 149,000

21+

€150,000+

77


0-1


Berlin

berlin@laurencesimons.com




Berlin
52° 30’′″N
13° 21’′″E

Germany


Germany

Germany

The German In-House legal market
was active throughout most of 2011
and the activity level was second only
to Switzerland in the European market.
Whilst only a small number of companies
implementing hiring freezes, these are
likely to be reviewed in Q1 of 2012.
An increasing number of multinationals
are looking to coordinate their Central
and Eastern European operations from a
German hub, as the economic importance
of the country as a whole, is further
underlined through the increasing number
of multinationals based elsewhere in
Europe (for instance in Brussels, London,
Paris etc) who require German qualified
lawyers to join their centralised legal teams.
As such, candidates with an international
outlook are very much in demand and
German language skills are, more often
than not, an essential requirement.
We have also experienced a significant
increase in requirements for Compliance
professionals and expect this to continue
through 2012. The expectations for the
foreseeable future are for continued,
albeit cautious, growth within In-House
legal teams.

In-House – Germany

PQE

Median Salary Range

0-1

€42,000 - 48,000

2-3

€48,000 - 62,000

4-5

€61,000 - 81,000

6-7

€80,000 - 93,000

8-9

€87,000 - 98,000

10-11

€95,000 - 112,000

12-13

€105,000 - 119,000

14-15

€120,000 - 139,000

16-20

€140,000 - 159,000

21+

€160,000+


Germany

The expectations for the
foreseeable future are for continued,
albeit cautious, growth within
In-House legal teams.


81


Geneva

geneva@laurencesimons.com




Geneva
46° 15’ N
6° 8’ E

Switzerland


Switzerland
The Swiss legal recruitment market has
remained active throughout 2011 with
consistent demand and growth across
all industries, particularly Life Sciences.
Companies continue to move European
or global headquarters to Switzerland to
take advantage of the tax benefits and the
ability to attract potential candidates from
across Europe.

Switzerland

French and German language skills
continue to be important. Candidates with
experience in Compliance, Regulatory
and Data Protection are particularly sought
after, especially at the senior end of the
market. Conversely, there is less of a
demand for more junior lawyers (one to
four years PQE) from multinationals.
Salary and bonus levels have remained
fairly constant year on year. There has
been some uplift for mid-level lawyers but
the greatest increases have been at the
senior end. The average bonus target for
In-House lawyers is around 20%. For those
candidates who have been relocated
to Switzerland, whilst assistance with
relocation is usual, expat benefits are very
much the exception rather than the norm.


In 2012 we expect to see continued
growth and expansion of legal teams with
a mix of international, as well as Swiss
qualified lawyers.

In-House – Switzerland
PQE

Median Salary Range

0-1

CHF 115,000 - 132,000

2-3

CHF 125,000 - 139,000

4-5

CHF 136,000 - 160,000

6-7

CHF 152,000 - 188,000

8-9

CHF 172,000 - 201,000

10-11

CHF 194,000 - 245,000

12-13

CHF 215,000 - 265,000

14-15

CHF 232,000 - 284,000

Switzerland

The Swiss legal recruitment
market has remained active
throughout 2011 with

consistent demand
and growth across all
industries.


85


Moscow
 moscow@laurencesimons.com
 +7 495 933 70 10

Tryokhprudny per. 9 Building 1B
office 001, Moscow, 123001


Moscow
55° 59’ N
37° 30’ E

Russia


Russia
Private Practice – Russia
US New York firms

Private Practice

Russia

The Russian legal recruitment market in
2011 can be summarised as cautious.
Recruitment consisted mainly of replacing
leavers rather than aggressively
expanding practices on a larger scale.
The highest demand was for Associates
at the mid-level whilst recruitment at
Partner level remained active with firms
keen to invest in new business, therefore
hiring pre-qualified candidates that were
able to bring a client following.

Median Salary Range

NQ

USD 75,000 - 100,000

1

USD 120,000 - 150,000

2

USD 130,000 - 160,000

3

USD 150,000 - 180,000

4

USD 170,000 - 200,000

5

USD 190,000 - 240,000

6

Corporate, MA, Litigation, IP, IT and
Energy remain the busiest areas although
the hiring of senior Dispute Resolution/
Arbitration lawyers, at both Partner and
Counsel level, was also noticed in 2011.
The Real Estate and PPP practice areas
are two to watch in 2012. Both have
grown due to recent changes in legislation
and as this trend gains momentum, so
too will the demand for candidates with
relevant experience at all levels.

PQE

USD 220,000 - 270,000

7

USD 250,000 - 300,000

8+

USD 280,000+

US Mid-Atlantic Firms
PQE

Median Salary Range
USD 70,000 - 90,000

1

USD 80,000 - 110,000

2

USD 90,000 - 120,000

3

USD 110,000 - 130,000

4


NQ

USD 130,000 - 155,000

5

USD 140,000 - 170,000

6

USD 160,000 - 190,000

7

USD 180,000 - 220,000

8+

USD 200,000+


Russia
Although Russia is in a much stronger
financial situation than some countries in
Europe, the market still tends to reflect that
of the global economy and as a result,
investment activity into Russia/CIS in 2012
is uncertain. The Russian elections have
also caused investors to act cautiously
which in turn affects hiring. That being
said, salaries are expected to rise by up
to 20% in 2012.

UK Magic Circle
PQE

Median Salary Range
USD 45,000 - 65,000

1

USD 50,000 - 75,000

2

USD 65,000 - 90,000

3

USD 75,000 - 110,000

4

USD 90,000 - 130,000

5

USD 110,000 - 150,000

6

USD 130,000 - 170,000

7

USD 155,000 - 185,000

8

USD 180,000 - 250,000

9+

USD 200,000+

Russia

NQ

Other City Firms Large US Firms
PQE

Median Salary Range
USD 30,000 - 50,000

1

USD 40,000 - 70,000

2

USD 50,000 - 80,000

3

USD 60,000 - 90,000

4

USD 80,000 - 120,000

5

USD 100,000 - 140,000

6

USD 120,000 - 160,000

7

USD 140,000 - 170,000

8

USD 160,000 - 200,000

9+

USD 180,000+

89


NQ


Russia
In-House – Russia

In-House

Russia

In-House has seen an increased demand
from the Private Equity and Funds markets
for transactional lawyers. Another trend
to highlight is the emergence of various
Pharmaceutical companies in the Russian
market over the past two years. Many
lawyers previously employed by law firms,
were tempted by competitive salaries to
move In-House within this sector and as
a result, many law firms are now looking
to expand or invest in the area and it is
anticipated that this will be a key focus
for 2012.

PQE

Median Salary Range

0-1

USD 19,000 - 30,000

2-3

USD 27,000 - 42,000

4-5

USD 43,000 - 64,000

6-7

USD 65,000 - 89,000

8-9

USD 90,000 - 112,000

10-11

USD 113,000 - 149,000

12-13

USD 148,000 - 179,000

14-15

USD 180,000 - 213,000

16-20

USD 215,000 - 263,000

21+

USD 265,000+


Russia

Although Russia

is in a much stronger
financial situation than some countries in
Europe, the market still tends to reflect
that of the global economy.


91


Dubai
 dubai@laurencesimons.com
 +971 (0)4 374 8332

Dubai Knowledge Village
Block 18, First Floor
PO Box 500732
Dubai, UAE


Dubai
25° 18’ N
55° 18’ E

Middle East


Middle East
In-House
For In-House, 2011 was a difficult year to
ascertain legal recruitment trends in the
Middle East as the year was filled with
peaks and troughs, not only within local
businesses but also the multinational
arena, most notably Technology, Energy,
Oil and Gas and Pharmaceuticals.

Middle East

General Counsel and Heads of Legal
across the Middle East, as well as the
US and Europe, are putting a renewed
emphasis on bringing in high calibre
lawyers to strengthen their Compliance
teams and business processes.
Candidates with a background in
Compliance are highly sought after and
salaries within this area tend to command
a premium.

Considering the financial difficulties facing
the US and Europe, it is no surprise that
the Middle East is now an area of focus as
it offers high potential growth in 2012. As
such, many clients seem vigilantly hopeful
about the future, however most remain
non-committal with regards to recruitment,
as a great deal hangs in the balance of the
US and European economies.
Salary and bonus levels have remained
fairly stable in the past year and we would
expect the same through 2012. The
recruitment market is currently client led
and as a result, clients expect only the
best talent in the market and are less
willing to negotiate on salary.

In-House – Dubai
Median Salary Range

0-1

AED 297,000 - 367,000

2-3

AED 367,000 - 478,000

4-5

AED 478,000 - 588,000

6-7

AED 588,000 - 698,000

8-9


PQE

AED 698,000 - 808,000

10+

AED 882,000+

* US firms mltinationals typically pay at a similar rate but in USD.


Middle East
Private Practice – Dubai

Private Practice
PQE

Median Salary Range

0-1

n/a

2-4

AED 397,000 - 511,000

5-6

AED 600,000 - 654,000

7+

AED 742,000+

* US firms mltinationals typically pay at a similar rate but in USD.

Middle East

In the Private Practice market there
has been little movement in salary
levels across the Gulf Region since the
downturn. As a general rule of thumb,
international firms have increased their
salaries between 4% and 6%. Where
recruitment has occurred, it has been in
the areas of Construction, Projects and
Litigation. Salaries at Silver and Magic
Circle firms are higher, as one would
expect, and a premium is often paid
to those lawyers with both international
education and law firm backgrounds,
as well as Arabic language skills. These
salaries are tax free and often return flights
and relocation packages are provided in
addition to the base salary.

Salaries are tax free

and often, return flights and

relocation packages
are provided in addition

95


to the base salary.


Hong Kong
 hongkong@laurencesimons.com
 +852 3154 9271
 1803, 18/F
No.9 Queens Road Central
Central, Hong Kong


Hong Kong
22° 20’ N
114° 11’ E

Hong Kong
Mainland China


Hong Kong Mainland China
Private Practice – Hong Kong, UK and Australian Law Firms

Private Practice


During the course of 2011 the legal
recruitment market in Hong Kong and
China remained robust due to the
continued growth of the IPO and Banking
sectors in the region.

PQE

Median Salary Range

NQ

HKD 720,000 - 900,000

1

HKD 756,000 - 960,000

2

HKD 840,000 - 1,080,000

Within Private Practice there has been
a significant increase in the number of
US firms recruiting Hong Kong qualified
lawyers, especially to expand either their
existing teams or to establish Hong Kong
based practices from scratch. This has
had a ripple effect on all salary bands as
Hong Kong Associates are now generally
being paid more.

3

HKD 900,000 - 1,140,000

4

HKD 960,000 - 1,260,000

5

HKD 1,080,000 - 1,440,000

6

HKD 1,121,000 - 1,680,000

7

HKD 1,200,000 - 1,800,000

8+

HKD 1,320,000 - 2,160,000

Consultant/Of Counsel

HKD 1,440,000 - 3,000,000

Salaried Partner

HKD 1,680,000 - 3,600,000+


US firms typically pay Hong Kong qualified
lawyers an uplift of 20% above that of
Magic Circle firms. In 2011 however,
all US firms (with a few exceptions)
converted to New York rates for their Hong
Kong Associates, starting their salaries
at USD160,000. This has led to Hong
Kong Associates in US firms earning
approximately 30% to 40% more than their
counterparts in UK firms. Understandably,
this has caused a migration of Hong Kong
qualified lawyers to US firms over the past
twelve months. Corporate Finance remains
the key practice area in demand for law
firms. The Banking and Finance sector
has also experienced an increase thanks
to the robust financial institutions in Hong
Kong and China posting healthy profits.

Private Practice – US Law Firms
PQE

Median Salary Range

1

USD 160,000

2

USD 170,000

3

USD 185,000

4

USD 210,000

5

USD 230,000

6

USD 250,000

7

USD 265,000

8+

USD 280,000

8+

$280,000


In-House – Hong Kong

In-House
There has also been a noticeable
increase within In-House recruitment
activity especially in mainland China.
This continues to reflect the strong
recovery of the Asian economy, as
many US and European multinationals
have sought to be part of, and benefit
from, Asia’s growth; particularly at a
time when domestic US and European
markets remain relatively weak.

PQE

Median Salary Range

NQ-1

HKD 360,000 - 660,000

2-3

HKD 480,000 - 864,000

4-5

HKD 600,000 - 1,080,000

6-7

HKD 660,000 - 1,500,000

8-9

HKD 936,000 - 1,680,000

Mainland China based roles for
multinationals have seen a marked
increase due to China’s staggering growth;
this has made PRC qualified lawyers a rare
find. Most candidates looking to move in
2012 will be seeking an increase of 20%
to 40% on base salary. Bonus payments
have shown an improvement averaging
two to three months although some
companies (mainly HK listed companies)
paid out significantly more.

HKD 1,080,000 - 1,800,000

12-15

HKD 1,200,000 - 2,160,000

Head of Legal / General Counsel

HKD 1,440,000 - 3,000,000


10-12


99




As a general rule of thumb, Hong Kong
Associates in US firms are paid a flat salary
with no cost of living allowance. However
US Associates receive a Cost of Living
Adjustment (COLA) that covers expenses
such as housing, education and home
leave expenses. Historically, firms have
differentiated the COLA amount based on
the tax status and family size (whereby a
US tax payer with spouse and children
will receive more in COLA payments,
in some cases up to USD145,000
per annum) but in more recent years,
most firms have moved toward a cash
allowance scheme with a flat payment to
all Associates. This typically ranges from
USD45,000 to USD90,000 per annum
with the most common being USD60,000
to USD70,000 per annum.
2012 will remain robust as China
will continue to dominate the region
with large-scale MA and Capital
Market transactions.

In-House – China
PRC Qualified Lawyers with Local Experience
PQE

Median Salary Range

3-5

USD 22,000 - 45,000

6-8

USD 45,000 - 65,000

9-10

USD 60,000 - 120,000

11-14

USD 80,000 - 150,000

15+

USD 135,000+

In-House – China
PRC Qualified Lawyers with Overseas Experience
PQE

Median Salary Range

3-5

USD 55,000 - 85,000

6-8

USD 80,000 - 120,000

9-10

USD 110,000 - 150,000

11-14

USD 125,000 - 160,000

15+

USD 150,000+

In-House – China
International Lawyers
Median Salary Range

3-5


PQE

USD 100,000 - 160,000

6-8

USD 140,000 - 220,000

9-10

USD 180,000 - 240,000

11-14

USD 200,000 - 260,000

15+

USD 230,000+


Many US and European
multinationals have sought
to be part of, and benefit from,
Asia’s growth; particularly at a
time when domestic US and European
markets remain relatively weak.


101


Singapore
 singapore@laurencesimons.com
 +65 6590 9166
 Phillip Street #09-04
3
Commerce Point
Singapore, 048693


Singapore
01° 22’ N
103° 55’ E

Singapore


Singapore
Businesses in Singapore enjoyed a
sustained uplift in 2011, particularly within
the IT and Technology sector, where the
majority of senior hires occurred. There
was a noticeable increase in the number
of US and European multinationals in
the Technology and Manufacturing
sectors looking to build their legal teams,
especially within emerging markets such
as Vietnam, Thailand and India (Singapore
often being used as the regional hub for
South East Asia).

increases. Requirements for senior level
lawyers to focus on Regulatory, Corporate
Governance and Corporate Secretarial
activities are all on the rise. There has also
been a significant increase in demand
for candidates with IT, Technology and
Commercial experience.

The outlook for 2012 remains promising,
although there is an understandable
element of caution. Hiring managers
in Asia are persistently searching for
experienced candidates in anticipation
of growth in the region; however hiring
budgets will most likely be rigorously
reviewed during the course of the year.

Salaries in Singapore have increased by
10% to 20% and candidates are benefitting
from sign-on bonuses, a hook used to
attract the best talent in the market.

Singapore

There has been a significant demand
for mid-level candidates. Those with
relevant APAC experience and fluency in
Mandarin have enjoyed noteworthy salary

In-House – Singapore
PQE

Median Salary Range
SGD 53,000 - 82,000

2-3

SGD 59,000 - 89,000

4-5

SGD 80,000 - 107,000

6-7

SGD 102,000 - 128.000

8-9

SGD 120,000 - 155,000

10-11


0-1

SGD 143,000 - 177,000

12-13

SGD 161,000 - 192,000

14-15

SGD 179,000 - 233,000

16-20

SGD 233,000+

21+

SGD 272,000+

Singapore

Salaries in Singapore have
increased by 10% to 20%
and candidates are benefitting from
sign-on bonuses; a hook

used to attract the best
talent in the market.


105


Mumbai

india@laurencesimons.com




Mumbai
19° 07’′N
72° 51’′E

India


India
The legal recruitment market in India
was buoyant during the course of 2011.
There was a steady flow of talent available
in the major cities (Delhi, Mumbai,
Bangalore and Chennai) where most
large US and European multinationals
are headquartered. Employers continue
to seek high calibre candidates with
experience gained from other multinationals
who are able to demonstrate evidence of
longevity in their careers; as attrition rates
remain a key concern in India.

India

As a whole 2012 looks set to be a positive
year for India. Companies are likely to
continue hiring across the board with many
looking to establish core legal functions
from scratch. In order to attract candidates
of the right calibre, many multinationals are
willing to offer significant salary increases.
It is not uncommon to see salary hikes for
high profile moves of over 50%.
India has been relatively unharmed by the
economic uncertainty in Europe and the
US. The only sector that has shown signs
of unrest is the Finance sector. The one
key trend which India displays more than
other regions is a great disparity in salaries
between cities and foreign versus locally
owned entities.

In-House – India
PQE

Median Salary Range

0-1

Lakhs 4 - 8

2-3

Lakhs 7 - 12

4-5

Lakhs 9 - 18

6-7

Lakhs 11 - 20

8-9

Lakhs 18 - 35

10-11

Lakhs 25 - 48

12-13

Lakhs 36 - 53

14-15

Lakhs 47 - 64

16-20

Lakhs 60 - 113

21+

Lakhs 82 - 143+


India

We are delighted to launch
our office in Mumbai,

to meet the ever increasing demand of
our global client base. We are now

the only specialist
international legal recruiter
on the ground in India.


109


New York
 newyork@laurencesimons.com
 +1 (646) 380 6629

1140 Avenue of the Americas
9th Floor, New York
NY 10036, USA


New York
40° 47’ N
73° 58' W

North America


North America
The legal recruitment market has been
considerably more active in 2011, albeit in
specific industry pockets and geographic
regions. Whilst the market would not be
described as robust, certain clients have
been hiring aggressively. This could be
attributed to organisations experiencing
early recession rebounds or others
looking to recruit talented lawyers in a less
competitive atmosphere.

Private Practice – North America
PQE

Median Salary Range

North America

Moving into 2012, employers will continue
to hire opportunistically, and will continue
to seek out the best possible candidates
for their teams. We anticipate that clients
will continue to demand incredibly specific
skill sets and will take full advantage of the
continuation of a candidate rich market.

$125,000 - 160,000

2-3

$130,000 - 180,000

4-5

$150,000 - 230,000

6-7

$165,000 - 250,000

8-9

$175,000 - 275,000

10-11

There has been a notable increase in
the number of lawyers working within
Compliance, and those with international
Compliance acumen continue to be
highly sought after. Candidates with
hybrid backgrounds are reinventing
themselves as Compliance experts in
order to capitalise on this booming area.
Such reinvention is being driven by market
demand and is appropriate for some but
not for all. Another related dynamic is that
commercial lawyers with solid Regulatory
skills are also highly valued. These
increases are a direct result of a more
highly regulated global marketplace.

0-1

$180,000 - 310,000

12-13

$250,000+*

14-15

$250,000+

16-20

$250,000+

21+

$250,000+
* he compensation for senior level Associates/Counsel/Partners at law firms will vary wildly. Partners at
T
the same law firm may make anywhere from the mid two hundred thousand dollar mark to millions of
dollars per year. Typically, this will depend on the business/client origination.


North America

Expected growth for 2012 falls within the
litigation arena, both In-House and Private
Practice, as well as, distressed real estate
matters. Bursts of heavy acquisition and
project finance activity are anticipated and
therefore, roles to support these functions.
We have not seen significant changes
during 2011 in salaries and bonus
structures and we don’t anticipate
significant changes for the upcoming year.

The Corporate In-House market which is
generally more cost-sensitive has not seen
salaries decreased as such, but rather
corporate clients skewing towards more
junior hires to capture some cost saving.

Despite a chill in the air over European
economies, the US legal recruitment
market is expected to push forward
towards a slow but steady recovery. Law
firms can anticipate further difficulty finding
highly-qualified Associates to manage an
increased work load and will need to hire
accordingly. The In-House legal market
will continue to expand to meet the needs
of an increasingly international playing
field. As salaries will stay relatively flat for
the moment, the competition for lawyers
will start to increase as the demand
continues on the upswing. We anticipate
that employers will see greater recruitment
challenges in the next year.

In-House – North America
PQE

Median Salary Range

0-1

$105,000 - 127,000

2-3

$115,000 - 143,000

4-5

$142,000 - 160,000

6-7

$159,000 - 183,000

8-9

$176,000 - 248,000

10-11

$223,000+

113


The Private Practice market has
experienced some competition amongst
the larger firms to be more aggressive with
respect to bonus, but there has otherwise
been little change. In New York, several
top tier firms paid spring bonuses, a fairly
unusual occurrence which is more the
exception than the rule. Though notable,
these increases in pay were generally
perceived as a catch-up from nominal

bonus payouts during the recession.
Law firms must generally be responsive to
their competitors in the market and raise
salary and bonus levels in-line with other
law firms. These lifts generally come in
waves across the US market. Whilst there
has been some ‘defrosting’ of salaries
since the recession, we do not anticipate
that law firms will take the further step of
increasing the market salary levels.

North America

Global corporations with significant
investment in emerging markets have
been more confident and aggressive
in their vision for expansion than those
focused on the EU or North America
alone. Key industries for 2012 are
High-Tech Manufacturing (including
Aerospace and Defence), as well as some
Heavy Manufacturing. Though slightly
tumultuous, positive activity in Technology
and the Pharmaceutical industries is also
expected. The luxury goods market has
also been performing well.


São Paulo
 saopaulo@laurencesimons.com
 +55 11 4890 0510
 das Olimpíadas, 200
Rua
10th floor, Vila Olímpia
São Paulo/SP, 04551-000


São Paulo
23° 37’ S
46° 39’ W

Latin America
São Paulo


São Paulo
Legal recruitment is a developing market
in São Paulo especially in comparison to
the US and UK, with most companies
and law firms handling hiring requirements
internally. That being said, the search for
high quality talent has become increasingly
difficult as the market becomes more
competitive and clients are now
outsourcing their hiring to specialists like
Laurence Simons to ensure they secure
the right talent.

São Paulo

The legal market in São Paulo has gone
from strength to strength in 2011. There
has been a distinct increase in demand for
qualified lawyers with Corporate, Banking
and Capital Markets experience, as well
as those with Project Finance, Litigation,
Competition and Tax backgrounds.
In preparation for the 2014 Football World
Cup, as well as the 2016 Olympic Games,
infrastructure in general has boomed and
as a result there has been an increase in
the demand for Regulatory, Energy and
Project Finance lawyers.


Within the In-House market, General
Counsel roles continue to arise and will
most likely remain an area of focus in 2012
as the Brazilian operations of international
companies have become increasingly
important globally.

Private Practice – São Paulo
PQE

Median Salary Range

0-1

BRL 52,000 - 65,000

2-3

BRL 64,000 - 79,000

4-5

BRL 80,000 - 118,000

6-7

BRL 101,000 - 168,000

8-9

BRL 148,000 - 242,000

10-11

BRL 205,000 - 298,000

12-13

BRL 236,000 - 329,000

14-15

BRL 304,000 - 395,000

16-20

BRL 357,000 - 452,000

21+

BRL 447,000+

* Net amounts in BRL, based on top tier law firms

In-House – São Paulo
PQE

Median Salary Range

0-1

BRL 39,000 - 52,000

2-3

BRL 48,000 - 74,000

4-5

BRL 72,000 - 82,000

6-7

BRL 77,000 - 89,000

8-9

BRL 89,000 - 128,000

10-11

BRL 124,000 - 175,000

12-13

BRL 156,000 - 204,000

14-15

BRL 183,000 - 277,000

16-20

BRL 263,000 - 349,000

21+

BRL 347,000+

* Gross amounts in BRL – 25% is discounted for tax purposes

There is a distinct shortfall of qualified legal
candidates in São Paulo, particularly those
fluent in English. However, many Brazilian
candidates who had moved abroad are
now returning to capitalise on the strong
market conditions. In addition, it will be
interesting to see what the Brazilian Bar’s
decision will be towards foreign law firms’
arriving in Brazil, as this could have a major
impact on the legal market dynamics.

PQE

Median Salary Range

0-1

BRL 52,000 - 71,000

2-3

BRL 69,000 - 98,000

4-5

BRL 85,000 - 118,000

6-7

BRL 119,000 - 172,000

8-9

BRL 170,000 - 222,000

10-11

BRL 220,000 - 282,000

12-13

BRL 279,000 - 384,000

14-15

BRL 351,000 - 446,000

16-20

BRL 434,000 - 520,000

21+

São Paulo

Salaries and bonuses are expected to
increase in 2012 and candidates in high
demand can anticipate substantial pay
rises.

Banking Finance – São Paulo


São Paulo

BRL 510,000+

* Gross amounts in BRL – 25% is discounted for tax purposes; based on Investment Bank
and top Retail Banks


117


Rio de Janeiro
 rio@laurencesimons.com
 +55 21 2588 8029
+55 21 2588 8030

 12th Floor
Av. Rio Branco, 1
Centro, Rio de Janeiro


Rio de Janeiro
22° 52’ S
43° 22’ W

Latin America
Rio de Janeiro

Laurence simon salary survey 2011/2012

Laurence simon salary survey 2011/2012

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