Does anyone mind telling me what a new fixed-share partner in a City law firm earns?

(155 Posts)
AmongTheNarcissi Mon 10-Feb-14 11:11:45

Not really AIBU (although maybe a bit unreasonable to ask friends and relations...)

I am a senior associate in a mid-tier City firm. 7 years PQE, IP specialism. Currently earn £102 000. Pay for associates in my firm is generally thought to be on the low side. I am going through the partner selection process at the moment and am hopeful of being offered fixed-share partnership soon. At which point I will have to negotiate my renumeration package from what I feel is a position of weakness as I have no idea of the norm. I have no good friends who are partners yet and can't ask colleagues (or at least they can't tell me). Online salary surveys are hopelessly vague.

If anyone is able to share their experiences of salary negotiation and what a reasonable sum might be, I would be very grateful!

mummymeister Mon 10-Feb-14 12:34:16

Hmm £102K a year and you post on aibu. would suggest you move this to chat. there will be quite a few people on here who wonder why you would share this, me included.

akachan Mon 10-Feb-14 12:36:13

Go and ask on rollonfriday

LessMissAbs Mon 10-Feb-14 12:37:43

Hmm £102K a year and you post on aibu. would suggest you move this to chat. there will be quite a few people on here who wonder why you would share this, me included

Why should women who work hard and have well paid jobs not be supported?

Sorry OP, I have no idea but I know it can be hard to find a genuine comparison of these things, and I think putting the issue out there is a good way to find out..

Swanbridge Mon 10-Feb-14 12:39:19

Rollonfriday, or speak to a recruitment consultant who knows the market.

maillotjaune Mon 10-Feb-14 12:42:47

Do the Law Society or whatever not have any information?

Greythorne Mon 10-Feb-14 12:44:29

Mummymeister
What a ridiculous post.

JeanSeberg Mon 10-Feb-14 12:45:28

Why shouldn't she ask? The more transparency there is about salaries in all industries the better. Especially where female employees are considered as they'll invariably get shafted anyway.

Sorry I can't give any practical advice OP.

MrsDe Mon 10-Feb-14 12:48:21

I would think about 150k. I work for a mid tier city law firm and think it's about that but have nothing to substantiate it though (sadly).

NellysKnickers Mon 10-Feb-14 12:48:27

It can vary. I too find it odd you are asking on a parenting forum.

Funny, DH and I were wondering about this last night, in the context of 'who the hell can afford to buy all these £squillion houses in nice parts of London?' chat. He has a friend who is a partner in a well respected London law firm, works in a specialist area (music) rather than corporate finance or similar - I think he has been a partner for 2-3 years and DH knows he is earning about £300k with bonuses (so not one of those buying said houses wink). HTH

Hubb Mon 10-Feb-14 12:51:53

But we never only talk about parenting issues. I think its fine to ask. Sorry have no idea though OP

Nelly - whilst AIBU might not have been the wisest choice of topics, there are plenty of other subjects discussed on MN that have nothing whatsoever to do with parenting thank god. Would you get rid of those too hmm?

JeanSeberg Mon 10-Feb-14 12:55:07

Are you new to the site Nelly? Genuine question as if you look through the list of Topics you'll see there's dozens of them that are unrelated to parenting.

I've started several threads, hardly any of them to do with kids.

Would everyone be saying the same if she was asking what a reasonable amount of pay for a Customer Service Advisor/car park attendant/cleaner was?

wordfactory Mon 10-Feb-14 12:55:21

Op I assume you mean a salaried partner. In which case you'd be looking at 120-150 depending on how profitable you are.

squoosh Mon 10-Feb-14 12:59:10

I never understand why people get arsey with posters who share, in a non bragging fashion, the information that they earn a salary significantly higher than the national average.

Other than that I have no helpful info to give OP!

minibmw2010 Mon 10-Feb-14 13:00:29

Have worked in several law firms. Junior Salaried partners would be around £150k or so (though my last form was American and partner heavy so not overly generous). Equity partners were closer to £200/250 but you usually had to have laid down at least £50k of your own for that. Good luck with it all.

MaryWestmacott Mon 10-Feb-14 13:06:57

op - call a recruitment consultant who covers your area and ask. (They are often helpful in exchange for knowing you owe them a favour so will be happy to be 'sourced')

WingDefence Mon 10-Feb-14 13:07:27

OP could you ask in the Legal area of MN as more existing lawyers may be able to answer your question over there?

ILoveWooly Mon 10-Feb-14 14:25:32

DSIL works for an American firm in London. She is an equity partner so perhaps not what you are looking for. She had to invest 75k but gets a wage of 300k plus bonuses.

mummymeister Mon 10-Feb-14 14:28:54

I don't understand why anyone legal exec, director, cleaner, post person whatever posts on AIBU to ask what others are earning doing a similar job. either you think it is the right rate for the job taking everything into account or you don't. that depends on where you live, what your lifestyle and fixed costs are, whether you want a job in a certain area and a whole host of other things. £102K in the arse end of nowhere where housing is cheap might be fantastic. in central London if the job requires you to work stupid hours it might not be. job satisfaction - not even mentioned. that's why online salary comparisons are useless because there are just too many variables.

JeanSeberg Mon 10-Feb-14 14:31:28

So if she accepted the �102K and then found out all the male partners were earning �150K, that would be OK would it?

mummymeister Mon 10-Feb-14 14:35:27

jean - if she accepted 102k and thought that was the right rate for the job all things considered and others were being paid more she would be entitled to ask why. do the others have more experience, have they been there longer, made a greater investment etc. if they are paying all the men of the same experience that much more then isn't that a whole different question/thread?

LessMissAbs Mon 10-Feb-14 14:36:10

Because its impossible to find out any other way mummymeister and there is a problem with equal pay for like work between men and women, one of the things that has been repeatedly in the news about inequality recently. Do you not read the same news articles as everyone else? Why would someone work to get to that level without exercising attention to detail over what they are paid? Or do you think women should just feel grateful to have a job at all?

If the OP wanted to ask about job satisfaction, she would have done.

WilsonFrickett Mon 10-Feb-14 14:39:45

Are there any headhunters or similar in your area that you could talk to? And have you posted on legal - it's not a board I go onto much but I'm guessing lawyers pop up there? I hate the culture of not talking about salaries, it makes negotiations very difficult.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now