A new report released by BCL Legal Recruitment, has studied the rates paid to solicitors across the UK since 2007. The report shows that in some cases, lawyers in the Midlands are earning LESS now than they were a decade ago.
Traditionally, Birmingham has one of the largest concentration of legal services in the UK outside of London.
However, the study shows there’s not been any notable rise in lawyer salaries in the area since before the global recession in 2008.
Lawyers who have been practising for six years since qualifying are the worst off – earning £5k less than they could have done a decade ago.
Those who are two and three years past qualifying are on the same rates as their 2007 equivalent.
Another new development that the report has thrown up is that the Midlands is no longer the leading region behind London for lawyer salaries.
While traditionally the strongest area for earnings behind the capital, the northwest and Yorkshire are now coming up on top for the best regional rates for lawyers.
Those who qualified for two years and more are now earning higher rates up north than in Birmingham and surrounding areas.
However, according to the survey, there are some exceptions. Newly qualified solicitors are earning £4,000 more on average than a decade ago and are currently on the highest rate outside of London.
Junior partners are also enjoying a £20k wage increase since 2007 – which is £30,000 more than their contemporaries in the northeast.