Legal profession wages surge
Paul Rogers for The Times
Legal profession salaries are rising significantly as the end of the year approaches.
In a development that will cheer junior lawyers and give law firm partners pause for concern, the statistics show that legal profession wage rises are potentially escalating to a point where they will outstrip inflation across the board, which was pegged at 2.8 per cent in October.
Research showed that wage inflation in the legal sector last month was running at 5.6 per cent above the figure for the previous month.
Over the longer term, however, the annual rate of inflation for salaries in the UK legal sector were still below the 2 per cent mark.
Analysts at CV-Library, an online employment agency, suggested that wage demands in the legal profession could rise next year.
Pay rose despite the number of vacancies advertised in the legal profession having fallen by more than 12 per cent last month compared with November 2016.
Lee Biggins, managing director of CV-Library, predicted that the forthcoming implementation of the EU’s general data protection regulation [GDPR] would drive law firms back into the recruitment market for qualified and unqualified staff.
“With growing concerns around GDPR, more organisations will be relying on legal support to ensure they are complying with new regulation,” he said.