There has been much written about the growth of Manchester as a commercial and legal centre, not to mention the impact of the Commonwealth Games in 2002 and urban regeneration.
The knock-on effect to the north-west’s legal scene has been considerable. It has led to a significant increase in all types of commercial work to different types of firms. The high value and quality work is no longer the exclusive remit of the six national practices – and several regional and niche commercial firms, such as Pannone & Partners, Hill Dickinson, Brabners Chaffe Street and Cobbetts are seeing the benefit.
Salaries have also been brought more into line. The national practices followed London with significant pay increases for their assistants in 2001/2002 and at that time there was a distinct gap between those firms and the chasing pack. Since the slowdown in the economy and a drop in corporate activity at national firms, salaries have remained static and pay increases have been limited.
Those regional/niche practices in Manchester, not reliant on a corporate/institutional client base, have remained busy and have steadily increased their salaries accordingly. Where three years ago, at assistant level, there was a difference of 15% or more between salaries, there is now little or no difference.
The general reduction of recruitment activity during the economic slump at national practices has also meant that regional practices have benefited by recruiting lawyers with national or City firm experience, which in turn adds to the practice’s credibility. This has been true at all levels and many partners looking to make a move up the ladder towards equity can see a clearer route in the north-west’s regional practices.
Another significant shift in the legal recruitment landscape is in the in-house marketplace, which has become much more accessible to junior lawyers. Recruitment in this field has increased significantly for those with two to six years’ post-qualification experience. Where five years ago in-house lawyers were paid significantly less than their private practice counterparts, now – including car allowances and good benefits packages – in-house lawyers can expect to be paid more.
However, this is limited to assistant/associate-level recruitment and the number of available senior in-house positions tends to be limited and salaries are quite often capped.
The changes can only be seen as positive for those looking to, or thinking about, making a move.
James Batt is a director in the Manchester office of BCL Legal
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