Laurence simon salary survey 2011/2012

Global Legal Salary Survey &

Market Trend Report 2011/12

Introduction .......................................................4

About Us...........................................................6

Methodology .....................................................7

Key Findings .....................................................9Demographics ....................................................10

Location of Respondents .....................................12

Job Title ..............................................................14

Sector/Discipline .................................................16

Current Employment ............................................18

Bonus.................................................................24

Benefits ..............................................................28

Career Progression .............................................30

Outlook ...............................................................36

UK ..................................................................38Private 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 .............................................................58In-House .............................................................60

Private Practice ...................................................61

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


Italy .................................................................66

Spain ..............................................................70

Benelux ...........................................................74Netherlands ........................................................76

Belgium ..............................................................77

Luxembourg .......................................................77

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

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

Russia .............................................................86Private Practice ...................................................88

In-House .............................................................90

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


Hong Kong & Mainland China ..........................96Private Practice ...................................................98

In-House .............................................................99

Singapore .....................................................102

India ..............................................................106

North America ...............................................110Private Practice .................................................112

In-House ...........................................................113

Latin America – São Paulo .............................114Private Practice .................................................116

In-House ...........................................................116

Banking & Finance ............................................117

Latin America – Rio de Janeiro .......................118Private Practice .................................................120

In-House ...........................................................120

Banking & Finance ............................................121

Legal Recruitment Advertising Solutions ..........122

Acknowledgements & Disclaimer ....................124

General Counsel Dinners ...............................125

Contact Us....................................................126

Contents

Laurence Sim

ons Salary S

urvey 2011/12

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.

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.

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

ww

w.laurencesim

ons.comIntrod

uctionLaurence S

imons S

alary Survey 2011/12

ww

w.laurencesim

ons.com5

Laurence Sim

ons Salary S

urvey 2011/12

As a means of introducing this report, we have picked out a few findings which we hope you will find interesting:

• 75% of those surveyed considered the role of a recruitment agency or headhunter the 'most important' factor when seeking a new role

• 36% of respondents work between 46 and 50 hours per week and 30% work more than 51 hours per week

• Despite the uncertain economic climate, 72% of respondents received a bonus in 2011 and 54% received an increase in bonus from the previous year

• 86% of respondents considered their current roles to be ‘secure’ or ‘very secure’ despite 50% feeling ‘pessimistic’ about the economic outlook

• 67% of respondents would consider a move overseas for their next role

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,

Naveen Tuli | Global Managing Director [email protected] +44 (0)20 7645 8504

Introduction

Introduction

ww

w.laurencesim

ons.comLaurence S

imons S


Ab

out 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’.

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.

About Us

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

ww

w.laurencesim

ons.com7

Laurence Sim

ons Salary S

urvey 2011/12M

ethodology

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.

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.

Methodology

Key Findings

ww

w.laurencesim

ons.comLaurence S

imons S


Dem

ograhics

67% of those surveyed have

nine years or more

post qualification experience (PQE).

ww

w.laurencesim

ons.com11

Laurence Sim

ons Salary S

urvey 2011/12D

emograhics

Demographics

63%

37%

5% 6-7 years 67% 9 years+

5% 7-8 years

4% 8-9 years

6% 5-6% years

3% 4-5% years

5% 3-4% years

2% 2-3 years

1% 0-1 year

2% 1-2 years

Gender of respondents

Current PQE level

ww

w.laurencesim

ons.comLaurence S

imons S


Location of Resp

ondents

Location of Respondents

7% North America

7% Latin America

6% Other

ww

w.laurencesim

ons.com13

Laurence Sim

ons Salary S

urvey 2011/12Location of R

espond

ents

Location of Respondents

21% UK

4% Ireland

10% France

4% Germany

2% Belgium

2% Dubai

2% Hong Kong

1% China

1% India

5% Italy

3% Netherlands

3% Singapore

1% Luxembourg

2% Spain

1% Nordics

1% Australia

5% Switzerland

6% Other

12% Russia

ww

w.laurencesim

ons.comLaurence S

imons S


Job Title

Job Title

Private Practice

0% 5% 10% 15% 20% 25% 30%

Other

Counsel

Managing Partner

Partner

Senior Associate

Associate

Newly Qualified 3%26%

29%13%

7%7%

15%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Other

General Counsel

Senior Vice President

Vice President

Assistant Vice President

Legal Counsel

Associate

Analyst

Banking & Financial Services

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Other

General Counsel

Senior Vice President

Vice President

Assistant

Legal Counsel

Associate

Analyst 2%1%

45%3%

7%10%

17%15%

0% 5% 10% 15% 20% 25% 30%

Other

Counsel

Managing Partner

Partner

Senior Associate

Associate

Newly Qualified

ww

w.laurencesim

ons.com15

Laurence Sim

ons Salary S

urvey 2011/12Job

Title

Job Title

0%5%

10% 15% 20% 25% 30%

Other

Patent Attorney

Trade Mark Lawyer

Compliance Officer

Chief Compliance Officer

Corporate Counsel

Legal Counsel

Senior Legal Counsel

Director

Head of Legal

Chief Legal Officer

General Counsel

General Counsel & Company Secretary

0% 5% 10% 15% 20% 25% 30%

Other

Patent Attorney

Trade Mark Lawyer

Compliance Officer

Chief Compliance Officer

Corporate Counsel

Legal Counsel

Senior Legal Counsel

Director

Head of Legal

Chief Legal Officer

General Counsel

General Counsel & Company Secretary

In-House Commerce & Industry

9%13%

1%

3%

1%

15%

1%

7%

1%

26%

1%

13%

9%

ww

w.laurencesim

ons.comLaurence S

imons S


0% 5% 10% 15% 20% 25%

Other

Real Estate

TMT

Intellectual Property/Patent

Aviation and Shipping

Litigation

Commercial

Financial Services

Corporate

Energy, Oil & Gas

Partner

Private Practice

Banking & Financial Services

0% 5% 10% 15% 20% 25% 30%

Other

Private equity

Brokerage

Custodian Bnaking

Assett Management

Hedge Fund

General Insurance

Retail Banking

Investment Banking

Sector/Discipline

Investment Banking

Retail Banking

General Insurance

Hedge Fund

Asset Management

Custodian Banking

Brokerage

Private Equity

Other

27%

1%

24%

21%

2%5%

5%

14%

19%

17%

3%

Energy, Oil & Gas

Corporate

Financial Services

Commercial

Litigation

Aviation and Shipping

Intellectual Property/Patent

Real Estate

TMT

Other

3%

4%

8%

7%

7%

2%5%

26%

Sector/D

iscipline

ww

w.laurencesim

ons.com17

Laurence Sim

ons Salary S

urvey 2011/12S

ector/Discip

line

Sector/Discipline

0% 5% 10% 15% 20%

Other

Utilities

Travel & Leisure

Transportation

Telecoms

Technology

Retailers

Real Estate

Oil & Gas

Pharmaceutical & Biotechnology

Mining

New Media

Media

Industrial Engineering

House, Leisure & Personal Goods

Health Care Equipment & Services

Food & Beverages

Electronic & Electrical Equipment

Construction & Materials

Chemicals

Aerospace & Defence

In-House Commerce & Industry

3%

3%

3%

3%

3%

17%

3%

15%

4%

3%

8%

1%

5%

1%

1%

3%

3%

10%

2%

2%

7%

Aerospace & Defence

Chemicals

Pharmaceutical & Biotechnology

Construction & Materials

Oil & Gas

Electronics & Electrical Equipment

Real Estate

Food & Beverages

Retailers

Healthcare Equipment & Services

Technology

House, Leisure & Personal Goods

Telecommunications

Industrial Engineering

Transportation

New Media

Utilities

Media

Travel & Leisure

Mining

Other

ww

w.laurencesim

ons.comLaurence S

imons S


Current E

mp

loyment

Current Employment

How are you currently employed?

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+

5%Interim/Contract

95%Permanently

ww

w.laurencesim

ons.com19

Laurence Sim

ons Salary S

urvey 2011/12C

urrent Em

ploym

ent

How long did it take you to find your current position?

Current Employment

35%Up to 1 month

29%1-3 months

18%4-6 months

4%7-9 months

6%10-12 months

5%1-2 years

3%Over 2 years

Many large organisations have implemented more efficient recruitment

processes; this has led to82% of respondents finding a new role within 6 months.

ww

w.laurencesim

ons.comLaurence S

imons S


Current E

mp

loyment

How did you find your current position?

Current Employment

30% Recruitment

Consultancy/Headhunter

4% Other

11% Professional Network

1% Social Media Network

16% Personal Contact

10% Internal Promotion

11% Direct Approach

11% Advertising (online)

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.

ww

w.laurencesim

ons.com21

Laurence Sim

ons Salary S

urvey 2011/12C

urrent Em

ploym

ent

How many hours per week do you work?

Current Employment

It is noteworthy that 58% of legal professionals working under

35 hours per week are female.

1%21-30 hours

2%31-35 hours

31%36-45 hours

36%46-50 hours

30%more than 51 hours

ww

w.laurencesim

ons.comLaurence S

imons S


Current E

mp

loyment

How would you rate your current job security?

Current Employment

20%Very Secure

67%Secure

11%Insecure

2%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.

ww

w.laurencesim

ons.com23

Laurence Sim

ons Salary S

urvey 2011/12C

urrent Em

ploym

ent

Would you recommend your current employer to a friend?

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

Current Employment

40%Increased

15%Decreased

2%Unsure

43%Remained the same

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

YESNO

78%22%

ww

w.laurencesim

ons.comLaurence S

imons S


Bonus

Bonus

Did you receive a bonus this year?

How was your bonus paid?

72%28%

83% Cash

11% Part Cash/Part Deferred

3% Other

1% Fully Deferred

2% Shares/Options

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.

YESNO

ww

w.laurencesim

ons.com25

Laurence Sim

ons Salary S

urvey 2011/12

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

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 receive a bonus in 2012.

Bonus

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

13%Significantly Increased

41%Increased

10%Decreased

2%Significantly Decreased

34%Remained the same

Bonus

ww

w.laurencesim

ons.comLaurence S

imons S


Bonus

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

Bonus

0% 5% 10% 15% 20% 25%

More than 100%

90-100%

80-89%

70-79%

60-69%

50-59%

40-49%

30-39%

20-29%

10-19%

Less than 10%

0% 5% 10% 15% 20% 25%

More than 100%

90-100%

80-89%

70-79%

60-69%

50-59%

40-49%

30-39%

20-29%

10-19%

Less than 10% 15%

3%

26%22%

13%

2%

6%

1%

4%

3%5%

ww

w.laurencesim

ons.com27

Laurence Sim

ons Salary S

urvey 2011/12B

onus

Bonus

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

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.

59% Satisfied

23% Dissatisfied

13% Highly Satisfied

5% Highly Dissatisfied

ww

w.laurencesim

ons.comLaurence S

imons S


Benefits

N/A

Other

Share Incentive/EMI Scheme/Option Scheme

25 Days Holiday or more

Annual Bonus Scheme

Car/Car Allowance

Flexible - Benefits

Flexible Working

Company Pension Scheme

Insurance

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

80%

23%

81%

34%

4%

6%

43%

41%

54%

74%

Benefits

ww

w.laurencesim

ons.com29

Laurence Sim

ons Salary S

urvey 2011/12

29

Benefits

Benefits

Which benefits do you consider important?

0%

10%

20%

30%

40%

50%

Share Incentive/EMI Scheme/ Option Scheme

25 Days Holiday or more

Annual Bonus Scheme

Car/Car Allowance

Flexible Benefits

Flexible Working

Company Pension Scheme

Insurance

Vital

Quite important

Very important

Not important

ww

w.laurencesim

ons.comLaurence S

imons S


Career P

rogression

What was the reason for leaving your last position?

Career Progression

42%

CONTRACT EXPIRED

9%REDUNDANCY

18%BETTER WORK/LIFE BALANCE

23%

MORE RESPONSIBILITY

35%

HIGHER SALARY

13%IMPROVED BENEFITS PACKAGE

24%

CAREER CHANGE

8%JOB SECURITY

5%BETTER TRAINING

11%IMPROVED BONUS POTENTIAL

44%

NEW CHALLENGE/MORE INTERESTING WORK

33%

ENHANCED CAREER PROSPECTS

TRAVELLING4%

RELOCATION/ BETTER LOCATION/EASIER COMMUTE

10%

5%JOB TOO STRESSFUL

National Press

The Lawyer

www.seek.com

Legal Week

Other Online Job Boards

Law Society Gazette

Twitter

Lawyers Weekly

LinkedIn

Hong Kong Lawyer

Xing

Asian Counsel

Facebook

The Brief

Other Social Networking

www.thelawyer.com

Word of Mouth/Personal Referrals/ Internal Contact

Other Trade Press

Recruitment Consultancies/ Headhunters

www.totallylegal.com

ww

w.laurencesim

ons.com31

Laurence Sim

ons Salary S

urvey 2011/12C

areer Progression

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

Career Progression

0% 8% 16% 24% 32% 40% 48% 56% 64% 72% 80%

Other

Work of mouth/Personal referrals/internal contact

Recruitment consultancies/Headhunters

Other social networking

Facebook

Xing

LinkedIn

Twitter

Other online job boards

www.seek.com


www.thelawyer.com

Other trade press

The Brief

Asian Counsel

Hong Kong Lawyer

Lawyers Weekly

Law Society Gazette

Legal Week

The Lawyer

National PressNational Press

The Lawyer

www.seek.com

Legal Week

Other Online Job Boards

Law Society Gazette

Twitter

Lawyers Weekly

LinkedIn

Hong Kong Lawyer

Xing

Asian Counsel

Facebook

The Brief

Other Social Networking

www.thelawyer.com

Word of Mouth/Personal Referrals/ Internal Contact

Other Trade Press

Recruitment Consultancies/ Headhunters


9%

1%

19%

37%

1%

10%

2%

3%

5%

1%

15%

2%

21%

74%

1%

9%

2%

2%

58%

23%

ww

w.laurencesim

ons.comLaurence S

imons S


Career P

rogression

Career Progression

Where do you see your career progressing in law?

51% Remaining

in the same sector

23% Changing Industry

5% Leaving law altogether

4% Other

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

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.

ww

w.laurencesim

ons.com33

Laurence Sim

ons Salary S

urvey 2011/12C

areer Progression

Career Progression

Would you consider relocating internationally for a suitably attractive opportunity?

2 in 3 lawyers are willing to consider relocation; global organisations need to consistently

review their internal opportunities as part of their retention plans.

YESNO

MAYBE67%

13%

20%

67%

ww

w.laurencesim

ons.comLaurence S

imons S


Career Progression

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

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

14% 21-25%

4% 0-4%14% 31% or more

9% 26-30%

14% 5-10%

23% 16-20%

22% 11-15%

17% 16-20%

17% 0-4%

9% 26-30%

10% 31% or more

15% 21-25%

9% 11-15%

23% 5-10%

Career P

rogression

ww

w.laurencesim

ons.com35

Laurence Sim

ons Salary S

urvey 2011/12

Career Progression

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

Extremely Optimistic

Optimistic

Indifferent

Pessimistic

Extremely Pessimistic

Other

1%

2%

24%17%

51%5% C

areer Progression

24% are ‘optimistic’ about the future of the economy in 2012; this reflects a

30% decrease year on year.

ww

w.laurencesim

ons.comLaurence S

imons S


Outlook

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

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.

ww

w.laurencesim

ons.com37

Laurence Sim

ons Salary S

urvey 2011/12

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.

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 TuliGlobal Managing [email protected]

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

Outlook

Outlook

London

[email protected]

+44 (0)20 7645 8500

322 High Holborn

London WC1V 7PB

UK

London 51° 30’ N0° 30’ W

ww

w.laurencesim

ons.comLaurence S

imons S


Private P

ractice

Private Practice

Overview

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.

41

Laurence Sim

ons Salary S

urvey 2011/12w

ww

.laurencesimons.com

Private P

ractice

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.

ww

w.laurencesim

ons.comLaurence S

imons S


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.

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


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 P

ractice

ww

w.laurencesim

ons.com43

Laurence Sim

ons Salary S

urvey 2011/12

City & West End/Niche Firms

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.

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.

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 – City


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 – West End/Niche


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+

Private Practice

Private P

ractice

ww

w.laurencesim

ons.comLaurence S

imons S


Private P

ractice

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.

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.

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).


NQ £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 £130,000 - 152,000

6+ £150,000+

Private Practice – NY Rates

A merit based pay system also provides

a tool for attracting talented Associates.

ww

w.laurencesim

ons.com45

Laurence Sim

ons Salary S

urvey 2011/12P

rivate Practice

Private Practice


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 – Mid-Atlantic RatesMid-Atlantic Rates

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.

ww

w.laurencesim

ons.comLaurence S

imons S


Private P

ractice

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).

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.

ww

w.laurencesim

ons.com47

Laurence Sim

ons Salary S

urvey 2011/12P

rivate Practice

Laurence Simons Offshore service extends throughout the region including:

the Cayman Islands, BVI, Bermuda &

the Channel Islands.

ww

w.laurencesim

ons.comLaurence S

imons S


Banking &

Finance

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 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.

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.

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.


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+

In-House Banking – Asset Management/Funds


0-1 £48,000 - 54,000

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


In-House Banking – ISDA Negotiators/Lawyers


0-1 £51,000 - 60,000

2-3 £61,000 - 84,000

4-5 £79,000 - 98,000

6-7 £97,000 - 121,000

8-9 £119,000 - 132,000

10+ £128,000 - 151,000


In-House Banking – Investment Banking

ww

w.laurencesim

ons.com49

Laurence Sim

ons Salary S

urvey 2011/12B

anking & Finance

Banking & Finance


0-1 £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+

In-House Banking – Insurance

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.

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.

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

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


0-1 £48,000 - 56,000

2-3 £55,000 - 64,000

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+

In-House Banking – Retail

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.

ww

w.laurencesim

ons.comLaurence S

imons S


In-House – O

verview


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 – 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.

In-House – Overview

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.

ww

w.laurencesim

ons.com51

Laurence Sim

ons Salary S

urvey 2011/12In-H

ouse – Life Sciences

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.

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.

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.


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 £93,000 - 155,000

General Counsel £195,000+

In-House – Life Sciences

ww

w.laurencesim

ons.comLaurence S

imons S


In-House – E

nergy

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.

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.


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


In-House – Energy

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.

ww

w.laurencesim

ons.com53

Laurence Sim

ons Salary S

urvey 2011/12In-H

ouse – FMC

G &

Retail

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.

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.

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.


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


In-House – FMCG & Retail

ww

w.laurencesim

ons.comLaurence S

imons S


In-House – Trad

itional Med

ia

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.

In-House – Traditional Media


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 £90,000 - 155,000


ww

w.laurencesim

ons.com55

Laurence Sim

ons Salary S

urvey 2011/12

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.

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.

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

In-House – TMT

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.

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.

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.

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.


0-1 £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 £110,000 - 155,000


In-House – Technology, M

edia & Telecom

munications (TM

T)

ww

w.laurencesim

ons.comLaurence S

imons S


In-House – C

omp

liance

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.


0-1 £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 £87,000 - 110,000

12-13 £105,000 - 125,000

14-15 £125,000+

EMEA Compliance Director £75,000 - 180,000

Chief Compliance Officer £200,000+

In-House – Compliance

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.

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.

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.

ww

w.laurencesim

ons.com57

Laurence Sim

ons Salary S

urvey 2011/12IP

Patent A

ttorney & Trad

e Mark A

ttorney

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.

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.

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.

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 £61,000+

Head of Department £73,000 - 117,000+

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.

ww

w.laurencesim

ons.comLaurence S

imons S


Dublin

[email protected]

+353 (0)1669 8522

Fitzwilliam Hall

Leeson Street

Dublin 2

Ireland

Dublin53° 20’ N06° 15’ W

ww

w.laurencesim

ons.comLaurence S

imons S


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.

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


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

ww

w.laurencesim

ons.com61

Laurence Sim

ons Salary S

urvey 2011/12Ireland

Ireland

Private Practice – Ireland

Banking, Funds & Insurance All Other Sectors

PQE 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+

Salaried Partner €120,000+ €120,000+

Private Practice

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.

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.

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.

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.

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

Paris

[email protected]

+33 (1) 5652 9201

Louis Vuitton Building

101 Avenue des Champs Elysées,

Paris 75008, France

Current E

mp

loymentFrance

Paris49° 01’ N02° 32’ E

ww

w.laurencesim

ons.comLaurence S

imons S


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.

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.

In-House – France

PQE Median Compensation Range

0-1 n/a

2-3 €45,000 - 58,000

4-5 €58,000 - 71,000

6-7 €70,000 - 83,000

8-9 €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+

ww

w.laurencesim

ons.com65

Laurence Sim

ons Salary S

urvey 2011/12 France

France

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

PQE Median Compensation Range

1 €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+

Private Practice

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.

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 M&A 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.

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

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

Rome

[email protected]

Italy

Rome41° 54’′N 12° 30’′E

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

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.

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


0-1 €29,000 - 38,000

2-3 €38,000 - 52,000

4-5 €55,000 - 63,000

6-7 €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+

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

ww

w.laurencesim

ons.com69

Laurence Sim

ons Salary S

urvey 2011/12

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.

Italy

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Madrid

[email protected]

Current E

mp

loymentSpain

Madrid40° 24’′N 03° 41’′W

Sp

ainw

ww

.laurencesimons.com

Laurence Sim

ons Salary S

urvey 2011

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.


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

In-House – Spain

ww

w.laurencesim

ons.com73

Laurence Sim

ons Salary S

urvey 2011/12

Businesses in some of Spain’s fastest growing sectors hope to

maintain their workforces whilst expanding into new markets.

Sp

ain

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Amsterdam

[email protected]

+31 20 520 6812

Keizersgracht 62-64

1015 CS, Amsterdam

Benelux

Amsterdam52° 18’ N 04° 46’′E

ww

w.laurencesim

ons.comLaurence S

imons S


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.

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

Private Practice – Netherlands


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+


0-1 €30,000 - 40,000

2-3 €40,000 - 50,000

4-5 €60,000 - 75,000

6-7 €60,000 - 90,000

8-9 €70,000 - 100,000

10-11 €80,000 - 130,000

12-13 €95,000 - 180,000

ww

w.laurencesim

ons.com77

Laurence Sim

ons Salary S

urvey 2011/12B

enelux

Benelux

In-House – Belgium

In-House – Luxembourg


0-1 €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+ €150,000+


0-1 €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+

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Berlin

[email protected]

Germany

Berlin52° 30’′′N 13° 21’′′E

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

Germ

any

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


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+

ww

w.laurencesim

ons.com81

Laurence Sim

ons Salary S

urvey 2011/12

The expectations for the foreseeable future are for continued,

albeit cautious, growth within In-House legal teams.

Germ

any

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Geneva

[email protected]

Switzerland

Geneva46° 15’ N 6° 8’ E

ww

w.laurencesim

ons.comLaurence S

imons S


Sw

itzerland

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.

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


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

ww

w.laurencesim

ons.com85

Laurence Sim

ons Salary S

urvey 2011/12

The Swiss legal recruitment market has remained active

throughout 2011 with consistent demand and growth across all

industries.

Sw

itzerland

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Moscow

[email protected]

+7 495 933 70 10

Tryokhprudny per. 9 Building 1B

office 001, Moscow, 123001

Russia

Moscow 55° 59’ N37° 30’ E

ww

w.laurencesim

ons.comLaurence S

imons S


Russia

Russia

Private Practice

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.

Corporate, M&A, 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.

Private Practice – Russia US Mid-Atlantic Firms


NQ USD 70,000 - 90,000

1 USD 80,000 - 110,000

2 USD 90,000 - 120,000

3 USD 110,000 - 130,000

4 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+


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 USD 220,000 - 270,000

7 USD 250,000 - 300,000

8+ USD 280,000+

Private Practice – Russia US New York firms

ww

w.laurencesim

ons.com89

Laurence Sim

ons Salary S

urvey 2011/12R

ussia

Russia

Private Practice – Russia UK Magic Circle


NQ 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+

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.

Private Practice – Russia Other City Firms & Large US Firms


NQ 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+

ww

w.laurencesim

ons.comLaurence S

imons S


Russia

Russia

In-House

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.

In-House – Russia


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+

ww

w.laurencesim

ons.com91

Laurence Sim

ons Salary S

urvey 2011/12

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.

Russia

ww

w.laurencesim

ons.comLaurence S

imons S


ww

w.laurencesim

ons.com

Dubai

[email protected]

+971 (0)4 374 8332

Dubai Knowledge Village

Block 18, First Floor

PO Box 500732

Dubai, UAE

Middle East

Dubai25° 18’ N 55° 18’ E

Mid

dle E

astw

ww

.laurencesimons.com

Laurence Sim

ons Salary S

urvey 2011

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.

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.

In-House – Dubai


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 AED 698,000 - 808,000

10+ AED 882,000+

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.

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

95

Laurence Sim

ons Salary S

urvey 2011/12w

ww

.laurencesimons.com

Mid

dle E

ast

Middle East

Private Practice – Dubai


0-1 n/a

2-4 AED 397,000 - 511,000

5-6 AED 600,000 - 654,000

7+ AED 742,000+

Private Practice

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

to the base salary.

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

ww

w.laurencesim

ons.comLaurence S

imons S


Hong Kong

[email protected]

+852 3154 9271

1803, 18/F

No.9 Queens Road Central

Central, Hong Kong

Hong Kong & Mainland China

Hong Kong22° 20’ N 114° 11’ E

ww

w.laurencesim

ons.comLaurence S

imons S


Hong K

ong & M

ainland C

hina


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.

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.

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 – Hong Kong, UK and Australian Law Firms

Private Practice – US Law Firms


NQ HKD 720,000 - 900,000

1 HKD 756,000 - 960,000

2 HKD 840,000 - 1,080,000

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+


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

ww

w.laurencesim

ons.com99

Laurence Sim

ons Salary S

urvey 2011/12H

ong Kong &

Mainland

China

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.

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.

In-House – Hong Kong


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

10-12 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


ww

w.laurencesim

ons.comLaurence S

imons S


Hong K

ong & M

ainland C

hina

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 M&A and Capital Market transactions.

In-House – China PRC Qualified Lawyers with Local Experience

In-House – China PRC Qualified Lawyers with Overseas Experience

In-House – China International Lawyers


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+


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+


3-5 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+


ww

w.laurencesim

ons.com101

Laurence Sim

ons Salary S

urvey 2011/12

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.

Hong K

ong & M

ainland C

hina

ww

w.laurencesim

ons.comLaurence S

imons S


Singapore

[email protected]

+65 6590 9166

3 Phillip Street #09-04

Commerce Point

Singapore, 048693

Singapore

Singapore01° 22’ N 103° 55’ E

ww

w.laurencesim

ons.comLaurence S

imons S


Singap

ore

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).

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

Singapore


0-1 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 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+

In-House – Singapore

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.

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.

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.

ww

w.laurencesim

ons.com105

Laurence Sim

ons Salary S

urvey 2011/12

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.

Singap

ore

ww

w.laurencesim

ons.comLaurence S

imons S


Mumbai

[email protected]

India

Mumbai19° 07’′N 72° 51’′E

ww

w.laurencesim

ons.comLaurence S

imons S


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.

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.

India


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+

In-House – India

ww

w.laurencesim

ons.com109

Laurence Sim

ons Salary S

urvey 2011/12

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.

India

ww

w.laurencesim

ons.comLaurence S

imons S


New York

[email protected]

+1 (646) 380 6629

1140 Avenue of the Americas

9th Floor, New York

NY 10036, USA

North America

New York40° 47’ N 73° 58' W

ww

w.laurencesim

ons.comLaurence S

imons S


North A

merica

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.

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.

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.

North America


0-1 $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 $180,000 - 310,000

12-13 $250,000+*

14-15 $250,000+

16-20 $250,000+

21+ $250,000+

Private Practice – North America

* The compensation for senior level Associates/Counsel/Partners at law firms will vary wildly. Partners at

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.

ww

w.laurencesim

ons.com113

Laurence Sim

ons Salary S

urvey 2011/12N

orth Am

erica

North America


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+

In-House – 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.

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 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.

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.

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

São Paulo

[email protected]

+55 11 4890 0510

Rua das Olimpíadas, 200

10th floor, Vila Olímpia

São Paulo/SP, 04551-000

Latin America São Paulo

São Paulo23° 37’ S 46° 39’ W

ww

w.laurencesim

ons.comLaurence S

imons S


São P

aulo

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.

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.

São Paulo


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+


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+

Private Practice – São Paulo

In-House – São Paulo

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

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

ww

w.laurencesim

ons.com117

Laurence Sim

ons Salary S

urvey 2011/12S

ão Paulo

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.

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

São Paulo


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+ BRL 510,000+

Banking & Finance – São Paulo

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

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

Rio de Janeiro

[email protected]

+55 21 2588 8029

+55 21 2588 8030

12th Floor

Av. Rio Branco, 1

Centro, Rio de Janeiro

Latin America Rio de Janeiro

Rio de Janeiro22° 52’ S 43° 22’ W

ww

w.laurencesim

ons.comLaurence S

imons S


Rio d

e Janeiro

Like São Paulo, the legal recruitment market in Rio de Janeiro has differed quite noticeably in 2011 from other countries. Although most of the world is cautiously awaiting the outcome of the European bailout, Rio seems unscathed.

2011 has been a successful year and there remains a continued and consistent high demand for experienced lawyers in Rio. Energy and Litigation are the two main areas in demand at present. Lawyers specialising in Oil and Gas and Infrastructure (EPC contracts) will have a good selection of options available to them in their next career move. This is largely due to investors setting up operations in Rio to assist with infrastructure projects that are necessary in delivering the 2014 Football World Cup and the 2016 Olympic Games.

Rio de Janeiro


0-1 BRL 35,000 - 48,000

2-3 BRL 49,000 - 72,000

4-5 BRL 71,000 - 94,000

6-7 BRL 91,000 - 137,000

8-9 BRL 131,000 - 174,000

10-11 BRL 171,000 - 210,000

12-13 BRL 211,000 - 249,000

14-15 BRL 251,000 - 327,000

16-20 BRL 321,000 - 379,000

21+ BRL 380,000+


0-1 BRL 31,000 - 47,000

2-3 BRL 46,000 - 59,000

4-5 BRL 60,000 - 77,000

6-7 BRL 76,000 - 94,000

8-9 BRL 90,000 - 120,000

10-11 BRL 121,000 - 174,000

12-13 BRL 170,000 - 209,000

14-15 BRL 211,1000 - 267,000

16-20 BRL 270,000 - 318,000

21+ BRL 320,000+

Private Practice – Rio de Janeiro

In-House – Rio de Janeiro

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

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

ww

w.laurencesim

ons.com121

Laurence Sim

ons Salary S

urvey 2011/12R

io de Janeiro

Legal teams which once had only two lawyers now have five or more. Professionals with relevant experience are hard to come by and are therefore able to command higher salaries than normal. The only industries to have experienced a decrease in demand are Banking and Capital Markets.

Qualified lawyers in Rio with fluency in English continue to be a rare commodity. The traditional model of supply and demand comes into play, with the number of jobs far exceeding the number of qualified candidates in the market. This has led to law firms paying extremely high salaries to retain staff and keep them from joining the competition, even at a junior level.

The shortfall of high quality lawyers will continue throughout 2012 and therefore salaries will continue to rise.

Rio de Janeiro


0-1 BRL 38,000 - 55,000

2-3 BRL 56,000 - 72,000

4-5 BRL 73,000 - 95,000

6-7 BRL 96,000 - 148,000

8-9 BRL 141,000 - 173,000

10-11 BRL 169,000 - 209,000

12-13 BRL 209,000 - 261,000

14-15 BRL 261,000 - 333,000

16-20 BRL 337,000 - 407,000

21+ BRL 401,000+

Banking & Finance – Rio de Janeiro

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

Laurence Sim

ons Salary S

urvey 2011/12

Legal Recruitment Advertising Solutions

ww

w.laurencesim

ons.com123

Laurence Sim

ons Salary S

urvey 2011/12w

ww

.laurencesimons.com

Legal Recruitm

ent Ad

vertising Solutions

Amsterdam

Brisbane

Canberra

Chicago

Dubai

Dublin

Frankfurt

Geneva

Hong Kong

Leeds

London

Melbourne

Moscow

Paris

Philadelphia

San Francisco

Seattle

Singapore

Sydney

global talentwww.laurencesimons.com

Corporate CounselAsia Pacific

Room 1503, 15/F Century Square, 1-13 D’Aguilar St, Central, Hong Kong.

Passion. At Starbucks, we do what we love and we love what we do. Do you aspire to join a company where you can be an individual and make a difference every day?

As the leading retailer, roaster and brand of specialty coffee in the world, Starbucks has more than 16,000 retail locations in North America, Latin America, the Pacific Rim, Europe, the Middle East, and Africa. We’re committed to offering our customers the finest coffee experience working in a way that ensures social, environmental and economic benefits for the communities in which we do business. We believe it’s possible to do well and to do good at the same time.

Based in Hong Kong, at our Asia Pacific Headquarters and reporting to the Director, Corporate Counsel Asia Pacific, you will work closely with the Asia Pacific (excluding Greater China) business. Your role will be business focused and broad, encompassing: real estate, licensing, general commercial law, marketing review, legal risk management, corporate law, outside counsel management and inside legal training.

Ideally you hold a law degree from an accredited U.S. or foreign law school with at least 6-10 years’ corporate or commercial experience within a major law firm or in-house legal department of a multinational company, although we would welcome all applications from people with the right skill set. Oral and written English language proficiency required while Cantonese and/or Thai language proficiency will be an advantage.

What’s one of the most importantingredients in every cup of coffee we serve?

All direct and third party applications will be forwarded to Laurence Simons for consideration.

Please visit www.starbucks.com for more information about our company.

To find out more about the position, please contact Starbucks exclusively retained advisors, Tara Brennan or Rebecca Collins on +852 3154 9271 or email [email protected].

Outstanding Opportunities for: - Law Graduates and Junior Associates

Dublin

Our Client is one of the world’s most respected and innovative brands

and most sought-after employers. Active in almost all segments of

the technology and business services markets, it operates in more

than 170 countries, including throughout Europe, the Middle East,

Africa (EMEA), has approximately 400,000 employees, and recorded

over $100 billion in revenue in 2008.

They are now looking to establish a Legal Centre of Excellence

(COE) in Dublin. The CoE will provide comprehensive contract and

commercial related support to business professionals and Attorneys

across the EMEA region. The remit will be challenging and broad,

encompassing a wide variety of technology agreements including

the development, negotiation, analysis and red-lining of software,

hardware, financing, business partner and other agreements for

the business throughout the region. This will necessitate working

closely and effectively with other members of the EMEA and Global

Legal Department.

This new organisation will consist of a combination of high calibre

law graduates and junior level associates. You may have graduated

or qualified in any European jurisdiction and prior technology

experience is not a requirement as successful candidates will

receive in-depth training.

In addition to a strong academic background, fluency in English

and at least one of the following languages is strongly preferred:

German (DE, AT, CH); Danish; Finnish; Swedish; Norwegian;

Turkish; Arabic; Dutch; French; Spanish; Portuguese; Russian;

Polish; Czech; Slovakian or Hungarian. International experience

or advanced legal training (LLM) would be an advantage.

This is a unique opportunity to become part of a new, exciting,

dynamic and truly multicultural team of lawyers from throughout

EMEA who will be working together to deliver world-class legal

services.

To find out more information about these roles please contact:

Portia White | Managing Consultant Kate Coughlan | Consultant

t: 353 (0)1 669 8522 t: 353 (0)1 669 8523

e: [email protected] e: [email protected]

Adventure. Change. Leadership. A new departure in Legal.

Our Client is committed to creating a diverse environment and is proud to be an equal opportunity employer.

All qualified applicants will receive consideration for employment without regard to race, color, religion, gender,

gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

ww

w.laurencesim

ons.comLaurence S

imons S

alary Survey 2011

We would like to extend our appreciation to all those who completed this survey and have made this market report possible. If you didn’t participate, please do so next year to ensure that we can continue to develop the depth and quality of this report and continue to provide you with a fair and balanced picture.

This market report only ever intended to give a very general overview on the changing nature and complexity of the employment market for lawyers and can serve as a useful guide. However, if you require a more tailored and confidential discussion on how this will affect your business, legal department or indeed your own career, please do not hesitate to get in touch.

Naveen Tuli | Global Managing Director

+44 (0)20 7684 8504

[email protected]

www.laurencesimons.com

This research was carried out by means of an electronic questionnaire and supplemented with data and market information that Laurence Simons has access to. The results are provided as generic market information only. Laurence Simons does not make any warranties regarding the use, validity, accuracy or reliability of the results and information obtained. Laurence Simons will not be liable for any damages of any kind arising out of or relating to use of this information.

© Laurence Simons 2011/12

Acknowledgements

Disclaimer

Acknow

ledgem

ents & D

isclaimer

ww

w.la

ure

ncesim

ons.c

om125

Laure

nce S

imo

ns S

ala

ry S

urv

ey 2

011/1

2w

ww

.laure

ncesim

ons.c

om

Organised by Laurence Simons since 2001,

‘The General Counsel Dinner’ is a unique event

targeted exclusively at Senior and General

Counsel working throughout the world. The aim of

the event is to provide the opportunity to network

in a congenial, relaxed and informal environment

with industry peers and discuss the many issues

facing the profession today. The events are strictly

by invitation only and the seminar is normally held

at the offi ces of the law fi rm sponsor.

Laurence Simons has hosted over 100 dinners

across a number of industry sectors and

geographical locations.

Current General Counsel events include dinners

in London for General Counsel working in;

Banking & Finance; Life Sciences; IT & Telecoms

and FMCG, as well as a hugely popular event

for Women General Counsel. In addition we

hold General Counsel Dinners in Dublin, Paris,

Brussels, Milan and Singapore and we will soon

launch the event in Moscow, Frankfurt and São

Paulo. These events attract over 1,000 Senior and

General Counsel a year and each is considered a

highlight on the legal calendar.

If you are a Senior or General Counsel and would

be interested in attending one of the events, or if

you are a law fi rm Partner and would like to know

more about sponsoring a General Counsel Dinner,

please do get in touch.

[email protected]

International Legal Professionals Networking Group Sponsored by Laurence Simons,

specialising in recruitment for

Private Practice and In-House

legal departments worldwide,

this group has almost 3,000

legal professionals from around

the globe and offers members a

centralised space to share ideas,

talk about current issues and

engage with like-minded people.

General Counsel Dinners

Genera

l Co

unsel D

inners

ww

w.laurencesim

ons.comLaurence S

imons S


Contact U

s

Laurence Sim

ons Salary S

urvey 2011/12w

ww

.laurencesimons.com

Laurence Sim

ons Salary S

urvey 2011

127

Contact us

UK & IrelandLondon

[email protected] +44 (0)20 7645 8500 322 High Holborn,

London WC1V 7PB

Dublin

[email protected] +353 (0)1669 8522 Fitzwilliam Hall, Leeson Street

Dublin 2

Continental EuropeParis

[email protected] + 33 (1) 5652 9201 LLouis Vuitton Building

101 Avenue des Champs Elysées, 75008, Paris , France

Amsterdam

[email protected] +31 20 520 6812 Keizersgracht 62-64, 1015 CS

Amsterdam

Geneva

[email protected]

AsiaSingapore

[email protected] +65 6590 9166 3 Phillip Street #09-04

Commerce Point Singapore, 048693

Hong Kong

[email protected] +852 3154 9271 1803, 18/F

No.9 Queens Road Central Central, Hong Kong

Middle EastDubai

[email protected] +971 (0)4 374 8332 Dubai Knowledge Village

Block 18, First Floor P.O. Box 500732 Dubai , UAE

RussiaMoscow

[email protected] +7 495 933 70 10 Tryokhprudny per. 9 Building 1B

office 001, Moscow, 123001

IndiaMumbai

[email protected]

North AmericaNew York

[email protected] 1 (646) 380 6629 1140 Avenue of the Americas

9th Floor, New York NY 10036, USA

Latin AmericaSão Paulo

[email protected] + 55 11 4890 0510 Rua das Olimpíadas, 200

10th Floor, Vila Olímpia São Paulo/SP, 04551-000

Rio de Janeiro

[email protected] +55 21 2588-8029

+55 21 2588-8030 12th Floor

Av. Rio Branco 1, Centro, Rio de Janeiro

Contact us

www.laurencesimons.com

Laurence simon salary survey 2011/2012

Marketing

Transcript of Laurence simon salary survey 2011/2012