Lawyers in
the US earn more than twice as much as their UK counterparts although the gap
is closing.
A survey by
recruitment consultants Taylor Root, called 2001 Survey of US Law Firms in
London, states that newly qualified lawyers in America can earn over
£100,000 a year without bonuses.
UK-based
law firms have increased their wages by £8,000 to an annual £50,000 this year.
Bonus
payments in the US have increased dramatically since last year.
This year
45 per cent of US law firms paid bonuses of more than 16 per cent of the
employees salary, compared to only 18 per cent last year.
Gill Jones,
Talyor Root’s head of international division, said, “Last year was obviously a
very good year for all lawyers, but what it seems to indicate is if you work
for a US-based firm you really do get to see it. Thirty-five per cent of US
firms paid more than 25 per cent of the base salary in bonuses last year.”
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