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Commercial solicitor: Salary and conditions

• The range of starting salaries in commercial firms varies considerably. The Solicitors Regulation Authority (SRA) (an independent body of The Law Society of England and Wales ) stipulates minimum starting salaries of £18,590 (recommended starting salary of £19,040) in London and £16,650 (recommended starting salary of £16,940) elsewhere in the country. However, larger commercial firms can offer much higher salaries, the highest being in City firms. Many of these offer starting salaries in the region of £30,000 - £36,000 for training contracts starting in 2012. The City offices of some US firms pay the highest rates - in the region of £41,000 (salary data collected Oct 09).
• Salaries at senior level/with experience (e.g. after 10-15 years) vary considerably, depending on the firm, the solicitor's specialism, recent performance and level of seniority achieved. At partner level, salaries (or income as ‘equity partners’ receive a share of the firm’s profits) are usually in excess of £100,000 and can reach over £1,000,000 (salary data collected Oct 09).
• The usual working day is approximately 9am - 6.30pm, but it may be necessary to work extra hours as large deals reach completion or in preparation for a tribunal or court case. Most firms only require weekend work in exceptional circumstances, although international work is more prone to unsocial hours. Solicitors in the largest City firms tend to work unsocial and longer hours on a more regular basis.
• Most of the work is based in offices. Visits to clients and courts close to the office base are common.
• Opportunities for career breaks have been limited but are increasing. Part-time work is possible but uncommon. Part-time opportunities are increasing slightly. Self-employment as a sole practitioner is uncommon in commercial areas of law.
• Approximately equal numbers of men and women are entering the profession with a slight increase in women joining over the last few years.
• Most commercial law firms are based in central London, although there are increasing opportunities in firms in cities such as Manchester, Leeds, Birmingham and Bristol.
• Smart office dress is usually required.
• Although the work may be stressful at times, many firms have increasingly acknowledged the potentially damaging effect of high stress levels and are taking steps to offer more help and support with this.
• Travel within the local area during the day is common. Overnight absence may occasionally be necessary.
• Overseas travel may be a possibility, dependent upon the specialism and the firm. As a rough guide, these opportunities are most common in the largest corporate firms.

AGCAS

Written by Tim Bradshaw , College of Law

Last updated:

October 2009

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