Legal executives are securing decent pay rises as the economy prospers – and some property specialists have ‘never had it so good’.
These are among the findings of an annual salary survey conducted by the Chartered Institute of Legal Executives (CILEx).
At the end of 2013, 56% of CILEx students, members and fellows believed their current salary was below market rate, but at the end of last year that figure had fallen to 42%.
In the the first half of 2014 property specialists secured an average 8% rise in pay in new jobs compared with an 11% fall in the previous six months.
Salaries have nudged up in other areas, with ‘no sign of the apocalypse’ in personal injury work despite the impact of the Jackson civil litigation reforms.
CILEx members working in the south typically command £22,000-£38,000, whereas in the north the top earners are property specialists commanding £29,000. CILEx fellows can earn as much as £50,000 in the south and £46,000 (debt recovery) in the north.
CILEx students in the south earn up to £30,000, depending on their area of work, compared with a high of £25,000 (employment) in the north.
The survey is published in this month’s CILEx journal.