The TotallyLegal Audience Insight Report revealed that, in spite of a turbulent political and economic climate, 2018 was a lucrative year for many individuals in the legal profession.
Up 7% from 2017, 58% of our audience reported a salary increase in the past year, and a particularly fortunate few (26%) received a pay rise of 10% or more – an annual increase of 5%. Significantly, the number of Lawyers and Solicitors receiving pay rises rose on average by 8% year-on-year.
In-House Counsel respondents came out on top, with 19% reporting a salary rise of 10% or more, while Associates too enjoyed a lucrative 2018, 15% of whom were rewarded a premium pay rise. At the other end of the table, just 5% of Administrators were offered a 10% increase.
Overall, the number of professionals receiving salary rises saw yearly growth across all surveyed job titles, excluding Heads of Department, General Counsels, Claims Handlers and Legal PAs.
In addition to base salaries, 48% of our audience received a bonus in 2018 – 42% of whom were awarded an extra 10% or more on top of their basic pay.
With 73% of Heads of Department and 69% of General Counsels receiving bonuses last year, but just 24% of Graduates and 9% of Document Review professionals earning salary extras, bonuses were most prevalent amongst senior, high-earning job titles.
In 2018, half of our audience were recipients of benefits. With 35% receiving private healthcare and 26% being offered flexible/remote working, the most popular perks among respondents were those that promoted healthy, balanced lifestyles.
12% of our audience were rewarded with gym contributions, while 11% enjoyed employer supplied travel loans. Rounding out the top 5 most popular benefits in 2018 were childcare contributions at 8%.
Despite political and economic uncertainty, the responses to our 2018 survey were, overall, suggestive of a flourishing and lucrative profession. With the majority of our audience receiving pay rises and benefits – plus just under half topping up their salaries with a bonus – it is clear that there is money and much more to be gained from a career in legal.
Download our Audience Insight Report today to find out more about the ins and outs of the legal profession.