BMA (British Medical Association) taking industrial action

lostinrates

the_flying_pig wrote: »

that's a tiny niche that does exist, i agree, but by & large the big 4/magic circle are the best paying, most prestigious law & equity partners.

and at these firms it's true that you've got to be knocking on the door of equity partnership [i.e. to have outperformed your cohort of russell group graduate entrants, pulling yrs worth of 60-80 hr weeks, etc] to earn more than an average GP who's looking at a few bunions for a few days a week. if you don't make equity partner by mid-late 30s you're out. but a doctor can bumble on, working short weeks, for decades.

but if the market says a deloitte partner is worth a half mill a year or whatever then fair enough, fair enough, that's what they get. v wrong to compare publci sector employees with this. compare GPs with top notch government lawyers or whatever.

No, they are not the highest paying firms, as i said, they pay less than london offices of US firms (at least before partnerships, after which i have no knowledge)

Any way, good night.

The_J

misskool wrote: »

Actually, in all fairness, I wouldn't mind a GP being paid what they're worth. I would happily rate my GP so his pay would be linked to performance. After all, they do provide a service right?

GPs are completely useless.

chewmylegoff

The_J wrote: »

Even a rubbish solicitor is on 50-60k. Magic circle associate is 175k.

Accountants I would agree with, 100k would be a good salary for an accountant. But that's because someone who qualifies as an accountant either goes into something much more profitable (if they have people skills) or stays being an accountant (if they are squares). Then the biggest nerds get to be partners.

Associates at magic circle on £175k? Maybe senior associates with 10/15 years PQE if you add their bonus on, but that salary is more indicative of the grade above associate (usually called counsel).

Rubbish solicitors in London might make £50k but conveyancers in Wigan are unlikely to...

misskool

The_J wrote: »

GPs are completely useless.

They aren't actually. Not many countries have an integrated practise where they know what you have and what drugs you're on etc etc.

However, too much power is given to GPs to decide. The system is good, the practise less so.

Anyways, pensions are changing for everyone and so are retirement ages. Why should one particular well paid sector be shielded from them?

CLAPTON

DaddyBear wrote: »

totally missing the point.
If all new proposals are passed, public sector workers earning over £50k per year will contribute the following into their pensions
doctors 14.5%
civil servants 8.5%
armed forces f@*k all.
Hardly fair

come on

tell us you medical career history since 18year and include your salary

The_J

chewmylegoff wrote: »

Associates at magic circle on £175k? Maybe senior associates with 10/15 years PQE if you add their bonus on, but that salary is more indicative of the grade above associate (usually called counsel).

Rubbish solicitors in London might make £50k but conveyancers in Wigan are unlikely to...

Spoke to a chap a couple of months ago, 5-6 years PQE, magic circle associate, 175k basic.

the_flying_pig

The_J wrote: »

Spoke to a chap a couple of months ago, 5-6 years PQE, magic circle associate, 175k basic.

that's really an extraordinary paypacket for London. i don't want to say unique because I'm nowhere near close enough to all the various niches that might exist to do so with any confidence, but extraordinary.

e.g. see http://www.thelawyer.com/uk-associates-left-behind-as-us-firms-widen-pay-gap/1008358.article

chewmylegoff

The_J wrote: »

Spoke to a chap a couple of months ago, 5-6 years PQE, magic circle associate, 175k basic.

That may well be true, but that is exceptional rather than the norm which would be more like £100k. Things start to get very toppy for most associates around £125k unless you're going to make partner or have some sort of niche experience which is in high demand.

CLAPTON

The_J wrote: »

Spoke to a chap a couple of months ago, 5-6 years PQE, magic circle associate, 175k basic.

I was talking to a american mate ( called Zuckerberg); apparently every one in US working in IT is worth at least 100 billion dollars

just shows doesn't it?

The_J

chewmylegoff wrote: »

That may well be true, but that is exceptional rather than the norm which would be more like £100k. Things start to get very toppy for most associates around £125k unless you're going to make partner or have some sort of niche experience which is in high demand.

He didn't seem exceptional. Bit thick really.

Couple of other recent non magic circle solicitors are easily over 125k. Maybe I am lucky with my clients, maybe I'm a magnet for the best of the best.

I've definitely seen an increase in recent years. As has been said often the salaries for in house lawyers at banks, hedge funds, PR firms and similar corporates have always been high and I had always seen the solicitors who stayed in solicitor firms as being like the square accountants who stay with their firm but recently I've been surprised by the sums being paid.