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How much does a partner in a law firm earn?
Blue_Monkey
Posts: 602 Forumite
Just curious.. City law firm, 10+ years PQE, 2nd year of being a partner - how much do you reckon the salary etc is?
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An awful lot more than mine.
But the question is meaningless. There are City law firms and City law firms. Area of expertise. Demand. Type of lawyer - solicitor, barrister, QC. Profitability of the practice. What the etc's are. I can't see how anyone could answer the question - it's private business and like lots of private businesses, income could vary enormously.0 -
Could be anything from £16k to £100k+. It's not unrealistic to say some partners earn less than £20k pa.0
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MrSnuggles wrote: »It's not unrealistic to say some partners earn less than £20k pa.
A lawyer? In a law firm? And a partner? Little as I know about lawyers incomes, I'd say it is wholly unrealistic to say some earn less than £20k. Maybe a surplus lawyer in a call centre for some legal helpline but not a practicing lawyer in a law firm. Unless they only work one day a week.0 -
marybelle01 wrote: »A lawyer? In a law firm? And a partner? Little as I know about lawyers incomes, I'd say it is wholly unrealistic to say some earn less than £20k. Maybe a surplus lawyer in a call centre for some legal helpline but not a practicing lawyer in a law firm. Unless they only work one day a week.
A lawyer will start off on under 20k quite often.
Oh and in a 'law firm' there will be generally be no barristers and QCs,they can be 'employed' and work in them now but it's not common and I've never known one.
Salary can change depending on where in the country too and varies enourmously on different things.If women are birds and freedom is flight are trapped women Dodos?0 -
I don't know about lawyers but new partners in accountancy firms often earn less thAn their staff. You have to buy into a partnership- through a low cost loan usually but as a result you earn less at first sometimes.June challenge £100 a day £3161.63 plus £350 vouchers plus £108.37 food/shopping saving
July challenge £50 a day. £ 1682.50/1550
October challenge £100 a day. £385/£31000 -
A lawyer will start off on under 20k quite often.
Oh and in a 'law firm' there will be no barristers and QCs
Salary can change depending on where in the country too and varies enourmously on different things.
The OP specified 10 years PQE and a partner, and a City law firm - so not exactly starting out, or anywhere in the country though. I bow to your expertise on where barristers and QC's work as I wouldn't have a clue, but you are assuming that the OP is being specific about a law firm (which isn't exactly a definition of much) and not meaning a place where lawyers work.
My friend has just started pupillage in a top barristers chambers in London and she earns £42k while training!0 -
marybelle01 wrote: »The OP specified 10 years PQE and a partner, and a City law firm - so not exactly starting out, or anywhere in the country though. I bow to your expertise on where barristers and QC's work as I wouldn't have a clue, but you are assuming that the OP is being specific about a law firm (which isn't exactly a definition of much) and not meaning a place where lawyers work.
My friend has just started pupillage in a top barristers chambers in London and she earns £42k while training!
I take law firm as solicitors as that's what they are referred to.42k for pupillage is good,it can be as little as 12k
The op did mention a partner with 10 years PQE,however the person I replied to was suggesting that lawyers in general would not earn under 20k.It was taken as a general comment due to the content of her post rather than being specific to partners and 'lawyers' with 10 years PQEIf women are birds and freedom is flight are trapped women Dodos?0 -
I take law firm as solicitors as that's what they are referred to.42k for pupillage is good,it can be as little as 12k
The op did mention a partner with 10 years PQE,however the person I replied to was suggesting that lawyers in general would not earn under 20k.It was taken as a general comment due to the content of her post rather than being specific to partners and 'lawyers' with 10 years PQE
The person you replied to was also me! And I was responding to the suggestion that a partner in a law firm with 10 years PQE would commonly earn less than £20k. i wasn't suggesting anything at all about lawyers in general - I was responding to a specific comment that some partners fitting the OP's description earn less than £20k.0 -
Could easily be about the 250k mark.
Trainees at City law companies can start on 45 - 60k at the moment on completion of the LPC.
A partner with 10 years PQE would be considered to be at the peak of their career.
In theory, if the law firm is doing very well then the sky's the limit. They may also sit on Boards as non-executive directors etc. So extra income is possible.There are three types of people in this world. Those who can count and those who can't.0 -
marybelle01 wrote: »The person you replied to was also me! And I was responding to the suggestion that a partner in a law firm with 10 years PQE would commonly earn less than £20k. i wasn't suggesting anything at all about lawyers in general - I was responding to a specific comment that some partners fitting the OP's description earn less than £20k.
It read as a general comment to me.If women are birds and freedom is flight are trapped women Dodos?0
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