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Law vs Consultancy Salary

 
#1 Law vs Consultancy Salary
13/03/2008 03:10

Bob

Generalizing and only talking about top law firms and top consultancies, why is it that a consultant earns significantly less than a lawyer starting their career?

In the US, one could argue that lawyers have professional degrees, but in the UK that isn't the case. Law is an undergraduate degree in the UK - you do have two years of training, but the pay during the training phase is comparable to that of a junior consultant. After qualification, it is more like that of a manager.

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#2 RE: Law vs Consultancy Salary
13/03/2008 07:58

Gawdon to Bob (#1)

Law firms have a flatter remuneration curve than consultancy firms - so junior lawyers are paid closer to the average than junior consultants. The trade-off is that there is less room for subsequent salary growth and bonus (below partnership at least).

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#3 RE: Law vs Consultancy Salary
13/03/2008 09:10

Bob to Gawdon (#2)

That's not really the case, at least in the US:

"Using information provided by third-, fourth-, and fifth-years, we've compiled the salaries and bonuses of Am Law 200 associates from around the country. Overall, midlevel associates reported median salaries of $170,000 in their third year, with bonuses at $30,000. By years four and five, total compensation hit $222,000 and $245,000, respectively."

http://www.law.com/jsp/article.jsp?id=1188378147171

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#4 RE: Law vs Consultancy Salary
13/03/2008 10:40

rof to Bob (#3)

go to rollonfriday.com or whatever that site is....lawyers earn more. no question.

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