London least affordable city for senior lawyers

23/01/2009

London least affordable city for senior lawyers New statistics from legal recruitment specialist, Sellick Partnership, have revealed that partners in London have the worst pay deal in the country, despite the premiums offered by City law firms.

The firm’s annual salary survey showed that while London partners earned from £70,000 per year compared to an average of £64,250 elsewhere, the soaring cost of living in the capital meant their earnings could be worth just £45,000 elsewhere in the country.

With partners in top tier law firms earning upwards of £68,000, Liverpool was the most affordable city, earning approximately 50 per cent more than a London salary when adjusted to take into account cost of living. This was followed by Birmingham (£68,000 making lawyers 43 per cent better off), Newcastle (£55,000 and 21 per cent) and Manchester (£68,000 and 19 per cent).

Hannah Kewley, legal director at Sellick Partnership, said: “Everybody knows that money goes further outside London, but it’s a revelation to see exactly how much further. Cities in the North and the Midlands now offer all the services, facilities and opportunities of the South East, making relocation there a significantly more attractive career move.

“Top tier London partners may command higher salaries, but with inflation and the cost of living rocketing, we are seeing more and more people looking north of the M25 for the optimum quality of life.”