The Robert Walters 2018 Salary Survey has found that lawyers in commerce and industry will enjoy pay increases of 8% on average in 2018.
With many employers continuing to place technology at the forefront of their strategy, lawyers offering expertise in this area will be in high demand. The incoming GDPR regulations will continue to generate demand for lawyers with data protection experience.
“The high volume of technology and data protection work in the UK market will put lawyers with possessing those skills sets in a strong position when it comes to salary negotiations in 2018,” said Jon Lucas, Manager at Robert Walters.
“Companies are adapting their hiring strategies to source lawyers who can join their teams already equipped with these skills and they are prepared to pay a premium for these profiles, as opposed to recruiting more junior professionals and upskilling them over time.”
Employers look to contractors to build a flexible workforce
The uncertainty of Brexit led many employers to make use of interim professionals in 2017 in order to maintain a flexible workforce which could adapt to changing economic conditions.
“While demand has always been present for interim legal professionals, these profiles were increasingly sought after in 2017 as employers looked to adapt to the uncertainty surrounding Brexit,” continued Jon Lucas, Manager at Robert Walters.
“Over the past year we have seen a slight decline in the number of lawyers relocating to the UK from Europe and the Commonwealth, many of whom often seek work in the interim market, leaving interim talent pools stretched.”
“The high volume of technology and data protection work in the UK market will put lawyers with possessing those skills sets in a strong position when it comes to salary negotiations in 2018.”
“This has been offset to an extent, however, by an increasing number of lawyers proactively deciding to leave permanent jobs in order to pursue a career as a contractor. This has provided employers with a healthy talent pool when hiring for interim roles.”
“However candidates with London-based experience are able to command higher daily rates, pushing up average payscales.”