Following the introduction of the highly anticipated Legal Services Act over a hundred firms have already been registered as ABS, according to the Law Society. This has enabled law firms to trade cash for stakes with investors, and combine legal practice with other services.

Another upshot of this has been the emergence of legal practices with ABS from entrepreneurs and professionals from a non-legal background. These practices which begin life as an ABS have a different approach to client services and management. While they have opened up new career avenues the long term success of ABS is yet to be seen.    

We are also seeing legal departments turning their attention towards the adoption of ABS to bring work contracted out, in-house as registering as an ABS enables in-house lawyers to carry out legal services on behalf of existing clients of the business.   

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The latest figures from Robert Walters’ salary survey show that legal salary growth has been driven largely by the in-house market. The highest % increase was seen in London where in-house permanent salaries rose by 1.7% year-on-year (compared to 0.2% in private practice), while contract rates are up 3.5% (compared to 0.4% in private practice). These increases in contract pay are particularly marked in the banking and financial services sector, where they have risen by 8.5% over the past year.  

This positive sentiment is also reflected in the results of the Robert Walters Compensation Survey (conducted in November 2012), which revealed that 59% of legal professionals received a salary increase last year. Expectations for this year are also high, with 65% predicting a salary increase in 2013.

Did you receive a salary increase this year or are expecting to receive one?

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According to results from the 2013 Robert Walters Salary Survey contract rates for legal professionals are up 3.5% year-on-year in the UK. The research also reveals that permanent legal salaries have increased 1.2% in the same period.  

The largest increases in permanent salaries have been evident in the Midlands, where they have risen 2.1%. The comparable figure for London is 1.1%. However, contract rates in London are up 3.8% and remain stable in the Midlands.  

Did you receive a salary increase this year or are expecting to receive one?

To find your next legal role, browse the latest opportunities from Robert Walters or view our latest in-house roles here

According to a recent study by leading legal recruiter Laurence Simons, the estimated value of pro bono work among the top 20 law firms last year was £180.9m  which is equivalent to 1.85% of these firms’ total revenue. Projecting this average across all 87,000 UK private practice solicitors, the total value of pro bono work in would be around £456m per year, equivalent to the average salaries of 3,679 lawyers. The results of this study were released to coincide with Pro Bono week which run from 5^th November to 11^th November.

“Legal firms undertake a large amount of work for charitable causes in their local community. For London firms, this year has coincided with the Olympics and Paralympics, allowing them to engage with community organisations in and around Stratford to help secure the legacy of the games. At the other end of the scale, some firms work on a more international scale, including one firm which negotiated the TV rights for the Paralympics in Haiti, helping to change attitudes to disability there. “, says Guy Adam, Director of Private Practice at Laurence Simons.

If you’re looking for a new legal role, browse the latest legal opportunities from Laurence Simons on Totally Legal.

According to a recent survey by legal recruiter Laurence Simons to determine the key deciding factors for legal professionals when assessing candidates at final interviews. The study revealed that 49% said personality and 15% said cultural fit while only 22% stated skills and knowledge.

In a competitive market, those seeking their next career move need to place more emphasis on portraying their personality in an interview. While experience will secure a first interview, at the final stage employers are placing greater emphasis on building a team that can work together.

A recent study by legal recruiter Laurence Simons shows that 15% of lawyers in the UK were educated at one of the 250 exclusive public schools that educate a total of 2% of the population. Their analysis suggests that the chances of those educated at one of these schools becoming a lawyer, is seven times higher that someone from a state school. 

In the 1960s, the legal sector did see an increase in Partners from state secondary schools being absorbed at blue-chip law firms but this trend began to reverse in the late 80s. In 1988, 59% of partners at the UK’s Magic Circle Firms were private school educated but rose to 71% by 2004.

According to a recent survey carried out by international legal recruiter Laurence Simons, 39% of lawyers say they would have chosen to be an entrepreneur if they hadn’t pursued a career in law. Lucinda Moule, Laurence Simons Managing Director comments: “The results of the survey are quite surprising as they indicate that almost 40% of lawyers are thwarted entrepreneurs.

19% would have chosen Politics - a significant proportion of Cabinet members in the last 20 years have a legal background. 12% said they would have started their own restaurant and 7% would have become an accountant. Lucinda says, “It also seems surprising that so few lawyers chose accountancy as an alternative career, as this is also a left brain dominant discipline. Perhaps this is a generation shift for the legal industry and we are about to see an influx of legal entrepreneurs who find themselves at the helm of our largest corporations”.