2014 - douglas-scott.co.uk · We are delighted to present our 2nd annual Salary and Benefits Benchmarker. This year saw us crunch through £99,214,604 of salary data – with more

2014 Salary

& Benefits Benchmarker

Understanding the legal recruitment landscape

We are delighted to present our 2nd annual Salary and Benefits Benchmarker. This year saw us crunch through £99,214,604 of salary data – with more than a little help from nearly 1000 survey respondents, 3727 candidate registrations and 2625 job instructions.

About usDouglas Scott Legal Recruitment are award winning legal recruitment experts. From offices in London, Birmingham, Manchester, Leeds and Liverpool we place qualified and non qualified legal professionals into some of the best UK and International legal opportunities.

Our mission in business is to make our clients happy, our competitors jealous and our mums proud. It works on a number of levels for us but in essence our aim is to provide the best possible service to our candidates and clients, keep a few steps in front of the opposition in all areas of business practice and at all times working in a way that is respectful of good old fashioned manners and principles.

ContentsHappiest Person in Legal 03

Demographics 04

Devices 05

Market Update 06

Career Motivators 07

Job Satisfaction 08

Working Week 09

Commute 10

Benefits 11

Bonus 12

Salary Satisfaction 13

Salary Indices 14-15

Sector Health 16

Our Year 17-18

Contact 19

Introduction

2014 Salary & Benefits BenchmarkerUnderstanding the legal recruitment landscape

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That’s Steven Mather. Leicestershire based Steve is a Partner and Accredited Mediator at Josiah Hincks Solicitors.

The scienceWe looked at factors such as job, salary and benefit satisfaction; bonus; commute and likelihood respondents would be moving jobs in the next 6 months.

Steven – a 6 years PQE Solicitor who has been with Josiah Hincks Solicitors for 2 years – scored highest.

And another happy person in legalCongratulations to Laura Barlow a Solicitor in Medical Law and Patients Rights at Irwin Mitchell Solicitors in London. Laura’s name was drawn out of the hat to win a Sonos Play 5 wireless hifi. Thanks to everyone who took part in our survey.

And the happiest person in legal?


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Demographics


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Devices


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Market Update

“There is an anticipation as we go through the process of pulling our data together because we know we will always find some gold. However it was quite surprising to see such a high percentage of legal professionals citing redundancy or job security as the main motivator for leaving their last role. Legal was tough in 2013 and these figures back it up – but we are predicting that 2014 will be the year legal professionals get their careers back on track. We are seeing the first signs of a return to a candidate driven market

– headcount reduction and some spectacular firm crashes have cultivated inertia within the talent pool but forward thinking legal professionals are sensing opportunity. Salaries are starting to nudge up and career paths have been opened again but sure, it will probably take a bit more to convince everyone that it is safe to come out again. Interesting though – amongst all the doom and gloom the sector experienced last year – 2013 saw more training contracts registered with the SRA than in 2012. According to figures we obtained from them 5,426 training contracts were registered in 2013 – up 2.25% from 5,306 in 2012. Firms appear to have been keeping their eye on the bigger picture and in particular the general economic outlook – perhaps recognising that if they do not act now then 2 years down the line there will be a massive shortage of talent.”

Jonathan Nolan, Director, Douglas Scott Legal Recruitment


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Career Motivators

Hard times in legal?

We would expect things to change towards the middle of 2014 but job security or redundancy was the reason 25% of male respondents moved on from their last job. 20% of women cited the same reasons.

In the over 50’s the figures rose to 48% and 42% of over 40’s. In the under 30’s that figure drops to 11%.


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Job Satisfaction

We need to talk about Generation Y!

Or Millenials as they have recently been labelled. Generation Y legal professionals are bucking the trend when it comes to the relationship between job satisfaction and wanting to move jobs.

All respondents plotted steady downward trajectory – as job satisfaction dropped the likelihood of leaving increased. Millenials flat lined – there was no relationship between job satisfaction and their likelihood of changing jobs in the next 6 months.

Employers may have to start thinking about this phenomenon when formulating long term resourcing strategies. These guys are going where the wind takes them but something as simple as changing policy on re-hiring ex-employees could be beneficial.


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Working Week

Who’s burning the midnight oil?

64% of men compared to 58% of women regularly work extra hours. 29% of men compared to 35% of women occasionally work extra hours. 7% of both genders stated they never worked any extra hours. 30% of the never group cited redundancy as the main reason they left their last job – compared to 17% of all respondents.


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Commute

Happiest travellers?

Runners and walkers seem to be the happiest in their metier – 49% declared they are very satisfied or satisfied at work. Car drivers came in 2nd with 38%. If you commute by Tube or Tram you are bringing up the rear with 26%.

The average commute was 41 minutes. The biggest commute was 3 hours by car. The longest run or walk was 60 minutes – as was the longest bike journey. One respondent spent 2 hours on a tube/tram every day.

Interestingly length of commute had little impact on job satisfaction – it is not a main motivator. If the job is a good fit, people will travel.


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Benefits


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Bonus

Who got bonus?

30% of male respondents and 24% of females received a bonus. 25% of those respondents working in private practice received a bonus – 46% of those working in house.

Who’s incentivising?

While single and multi branched private practices are home to some of the highest bonuses as percentage of wage there is little difference – on average – when compared to in house and the Top 200.

Claimant Insurance work is the most incentivised practice area with bonuses of up to 59% of salary and an average of 14.84%. Corporate/Commercial Lawyers are earning on average 6.53% bonus just shading Private Client on 4.6 of salary.

25% of Fee Earners received bonus averaging 9.71% of salary compared with 16% of business support staff averaging 3.05%.


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Salary Satisfaction

Salary parity in legal

In terms of salary benchmarking there was very little variation between male and female respondents.

The same applied across regions save a little spike in London and South East where 57% felt they were being paid below market rate.

Respondents were 9% more likely to change jobs in the next 6 months if they believed they were paid below market rate.


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Salary Indices


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Salary Benchmarking


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Sector Health


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Our Year: 2013

Douglas Scott Legal Recruitment have had a fantastic last 12 months and laid solid foundations for further success in 2014 – our 10th year in business.


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London 1 Berkeley Street London W1J 8DJ

t: 0203 402 2081 e: [email protected]

Birmingham 43 Temple Row Birmingham B2 5LS


Manchester Level 11, Tower 12 Avenue North Spinningfields ManchesterM3 3HF


Leeds No 2 Wellington Place Leeds LS1 4AP


LiverpoolThe Corn Exchange Fenwick Street Liverpool L2 7QL


Documents

2014 - douglas-scott.co.uk · We are delighted to present our 2nd annual Salary and Benefits Benchmarker. This year saw us crunch through £99,214,604 of salary data – with more