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Global Lsi Sallary Survey In House 

Global Lsi Sallary Survey In House

 

 
 
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Published:  November 13, 2011
 
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Slide 1: In-House Global Salary & Benefits Survey www.laurencesimons.com 1
Slide 2: Contents Contents » » » » » » » » » » » » » » » » » Introduction Demographics Current Employment In-House Legal Departments Bonuses Benefits Looking Ahead Thinking of moving abroad? Economy Global Salaries UK Ireland France Italy Spain Benelux Region Germany 3 4-6 7-8 9 10 - 11 12 - 13 14 15 16 17 18 - 19 20 20 21 21 22 23 www.laurencesimons.com » » » » » » » » » » » Poland Switzerland Russia Middle East Region Hong Kong & Mainland China Singapore India Australia North & Latin America (Brazil) Acknowledgement Useful Contacts 23 24 24 25 26 27 28 29 30 31 32 2
Slide 3: Introduction Introduction As a recognised leader in the in-house market for over 20 years, Laurence Simons has built up one of the most comprehensive networks of clients and candidates in the legal world. Earlier this year we used this network to carry out an extensive research project into the salaries and benefits received by in-house lawyers in key markets around the globe. We received an overwhelming response from over 1,900 in-house legal professionals and the material gathered provides the basis of this report, which we hope will be a valuable resource whether you are looking for a new role or are looking to strengthen your in-house team. Across all locations and all industries recent times have been difficult and this is reflected in some of the data and trends you will see in the following pages. That being said there are many reasons to be optimistic. As a means of introducing this report, we have picked out a few findings that we hope you will find interesting: • 73% of respondents received a bonus in the past 12 months and in a surprisingly high 30% of cases these bonuses were higher than the previous year. On average it would take a pay rise of between 16-20% to tempt an in-house lawyer to join another employer Over 55% of respondents said that career development and varied work were the primary reasons why they left their last role, not salary. As always, we are keen to hear your feedback, and if you have any questions, or would like a confidential discussion regarding your career or recruitment plans, please do not hesitate to get in touch. Kind regards • • Naveen Tuli | Managing Director naveen.tuli@laurencesimons.com +44 (0)20 7645 8504 www.laurencesimons.com 3
Slide 4: Demographics Demographics Men (64.7%) Women (35.3%) What is your gender? 65% of respondents were male and 35% female. 0-1 years (1.8%) 2-3 years (4.2%) 4-5 years (6.6%) 6-7 years (7.6%) 8-9 years (7.5%) 9-10 years (11.7%) 11-12 years (12.6%) 13-15 years (14.7%) 15-20 years (19.5%) 21 years + (13.7%) www.laurencesimons.com What is your current level of post qualification experience? 54% of respondents had between 6 and 15 years PQE. Just under 20% had between 15 and 20 years PQE, while just over 12% had less than 5 years’ PQE. 4
Slide 5: Demographics Less than a year (2.3%) 1-3 years (4.3%) 4-6 years ( 13.9%) 7-10 years (21.2%) 11-15 years (23.8%) 16-20 years (20.3%) 21-25 years (9.4%) 26 years + (4.8%) How long have you been working In-House? 65% of those taking part in the research had been working inhouse between 4 and 15 years. 35 30 25 20 15 10 5 0% A BCDEFGHI J KLM A - Aviation and Shipping B - Energy and Utilities C - Life Sciences D - Media, Entertainment, Leisure and Sports E - Property F - Technology, Telecoms and New Media G - Fast Moving Consumer Goods H - Oil and Gas I - Business Services J - Financial Services K - Insurance L - Investment Banking M - Retail Banking In which sector(s) do you currently work? Over 20 sectors were covered by the survey with the Technology, Telecoms and New Media sector being the most represented (30% of responses). The four other sectors that made up the ‘Top 5’ were Financial Services (14%), Life Sciences (11%), FMCG (11%), and Energy and Utilities (9%). The Manufacturing, Property, Investment Banking and Oil and Gas sectors were also well represented with at least 100 respondents in each. www.laurencesimons.com 5
Slide 6: Demographics www.laurencesimons.com UK - 29.2% Northern Ireland - 0.1% Republic of Ireland - 2.7% Scotland - 0.1% Wales - 0% France - 11.8% Germany - 6.4% Italy - 6.4% Holland - 5.2% Luxembourg - 1.2% Switzerland - 5.5% Spain - 1.3% Belgium - 3.1% Russia - 3.6% Poland - 0.6% Eastern Europe (other) - 2.4% Middle East - 3.7% Japan - 0.1% Hong Kong - 1.3% Mainland China - 0.7% Singapore - 2.2% India - 2.2% Australia - 1.4% North America - 6% South America - 1.3% Canada - 0.7% South Africa - 0.1% Africa (other) - 0.8% Where is your current role located? With 1,919 respondents, there was a real mix of lawyers from around the globe. Permanent or Temporary? 92% of those surveyed were in permanent employment whilst 6% were in a temporary role or working on a contract basis. Permanent (92.3%) Temporary/Interim/Contract (6.1%) Not currently employed (1.6%) 6
Slide 7: Current Employment Current Employment Very Secure (20.4%) Secure (63.9%) Insecure (13.3%) Very Insecure (2.5%) Yes (79.9%) No (20.4%) How would you rate your current job security? Despite continuing uncertainty in the global economy and the individual performance of some multinationals, it is encouraging to see that 83% of those in-house lawyers who completed our survey felt that their jobs were either ‘secure’ or ‘very secure’, only 2.5% of those surveyed felt that their jobs were ‘very insecure’. Would you recommend your current employer to a friend? Most in-house lawyers seem to be happy in the companies where they are currently employed, with 79% saying that they would recommend their employer to their friends as a place to work. www.laurencesimons.com 7
Slide 8: Current Employment Online Advertising (10.7%) Print Advertising (9.4%) Direct Approach (11.8%) Internal Promotion ( 8%) Personal Contact (15.3%) Professional Network (7.7%) Social Media (e.g. LinkedIn/ Twitter/Facebook) (0.3%) Recruitment Consultancy/ Headhunter (36.9%) How did you find your current role? Over a third (37%) of respondents found their current role through recruitment consultancies like Laurence Simons. The second most common route was through personal contacts (15%), nearly 12% had been approached by their employer and just over 10% had found the role through an online job-board. Less than 1% of the sample had used social media to find their job, although the increasing popularity of such tools leads us to expect much higher numbers in our next survey. Please identify the closest reason(s) why you left your last position (choose up to three) A - Better bonus potential B - Better location/easier commute C - Better training D - Better work/life balance E - Career development F - End of contract G - For improved working relationships H - Higher salary I - Improved benefits package J - Job security K - More responsibility L - New challenge M - Redundancy N - Relocation of employer O - Better quality work 60 50 40 30 20 10 www.laurencesimons.com 0% A BCDE F GHI JK LMN O Looking at the reasons why in-house lawyers moved into their current role, 55% said it was for career development and 46% moved for a new challenge. The traditionally popular motivation of higher salary was third at 31%. Other factors included a desire for more responsibility (27%) and a better work/life balance (19%). 8
Slide 9: In-House Legal Departments In-House Legal Departments Increased ( 25.6%) Decreased (25.7%) Remained the same (47.9%) Not sure (0.7%) Increase (27.3%) Decrease (11.5%) Remain the same (56.6%) Not sure (4.6%) How has the number of staff in your department changed over the course of 2009? Throughout 2008 and 2009 the media carried almost daily news stories about multinational companies cutting staff to save costs. Fortunately most in-house legal departments opted to freeze rather than reduce headcount. Nearly 48% of respondents worked in organisations that had imposed such a freeze although just over a quarter stated that their departments had actually grown over the past year. How do envisage your department headcount changing in 2010? Some 56% of lawyers surveyed expected headcount to remain steady throughout 2010 although it is promising to note that 27% believed there would be an increase in staff numbers. www.laurencesimons.com 9
Slide 10: Bonuses Bonuses Less than 5% (8.1%) 6 - 10% (16.1%) 11 - 15% (17.1%) 16 - 20% (13.6%) 21 - 25% (11.7%) 26 - 30% (10%) 31 - 35% (5%) 36 - 40% (4.5%) 41 - 50% (4.1%) 51 - 60% (2.6%) 61 - 75% (1.4%) 76 - 100% (3.2%) More than 101% (2.6%) As a percentage of your basic salary, what level was your most recent bonus? Of the 1,919 individuals who completed our survey, 73% had received a bonus in the past 12 months. 46% of these indicated that it was between 6% and 20% of base salary. ‘Bumper’ bonuses were relatively rare with only 9% of in-house lawyers receiving a bonus of greater than 50%. However small bonuses were even rarer. Only 8% of bonus recipients were paid less than 5% of salary. How did this differ from last year’s bonus? 33% of the bonuses that were paid had either ‘increased’ or ‘significantly increased’ with 40% of people saying that their bonuses had not changed since their last bonus payout. Over a quarter (26%) of respondents said their bonuses had decreased. Significantly increased (6.3%) Increased (26.3%) Remained the same (40.3%) Decreased (20%) Significantly decreased (6.5%) www.laurencesimons.com 10
Slide 11: Bonuses Highly satisfied (10.1%) Satisfied ((62.5%) Dissatisfied (23.7%) Highly dissatisfied (3.6%) How would you assess your level of satisfaction with your bonus? 33% of the bonuses that were paid had either ‘increased’ or ‘significantly increased’ since the previous year, 40% had remained static and 26% had gone down. Perhaps acknowledging the nature of the economy and its affect on pay, 72% of those who received a bonus were either ‘satisfied’ or ‘highly satisfied’ with it. www.laurencesimons.com 11
Slide 12: Benefits Benefits 80 70 60 50 40 30 20 10 0% Which benefits are included in your current package? An annual bonus scheme and insurance are the two most common benefits received by in-house lawyers although company pension schemes and a car/car allowance are also much more popular in-house than they are in private practice. Flexible working is becoming more widespread but its relatively low frequency does suggest that companies still want their lawyers on site to deal with work ‘there and then’. Other benefits that were mentioned were schooling assistance and housing allowance. A B C D E F G H I J K www.laurencesimons.com A - Less than 20 days holiday B - 21-25 days holiday C - 26-30 days holiday D - 31+ days holiday E - Annual bonus scheme F - Car or car allowance G - Flexible benefits H - Flexible working (home working/flexi-time) I - Company pension scheme J - Insurance (PMI/death in service/life assurance) K - Share incentive/EMI scheme/option scheme 12
Slide 13: Benefits Importance of benefits One of the most desired benefits was holiday entitlement of more than 25 days and, considering that it did not make the ‘Top 5’ of current benefits this is a potential area employers could look at in order to retain their staff. Although a car or car allowance featured in many lawyer’s benefits packages, it was ranked as the least important factor when looking for a new role, which would suggest that a review of existing packages and introducing flexi-time or flexible working could have a positive impact on employee satisfaction, motivation and retention. A B C D E F G H 0 least important 1 2 3 4 5 most important A - 25 days holiday or more B - Annual bonus scheme C - Car or car allowance D - Flexible benefits E - Flexible working (home working/flexi-time) F - Company pension scheme G - Insurance (PMI/death in service/life assurance) H - Share incentive/EMI scheme/option scheme www.laurencesimons.com 13
Slide 14: Looking Ahead Looking Ahead Where Next and How? Which sources do you consider most important when seeking a new role? Naturally, Laurence Simons is pleased that nearly 72% of lawyers consider recruitment consultancies and headhunters key to their next job search, with personal contacts (56%) close behind. When Laurence Simons set up its leading LinkedIn group, it was because we felt that it could be an important source for in-house lawyers searching for a future role. It consequently came as no surprise to us that LinkedIn ranks as the fourth most important tool (16%) when searching for a new position. Other social media sites such as Xing (1%) and even Facebook (0.5%) and Twitter (0.1%) were cited by a small but vociferous minority. Regional magazines and websites such as Asian Counsel, Hong Kong Lawyer and The Brief (Middle East) score well in their own domains while the more generic, international job-boards from The Lawyer, Legal Week and Totally Legal all have a high ranking. 80 70 60 50 40 30 20 10 0% www.laurencesimons.com National Press The Lawyer Legal Business Legal Week Law Society Gazette Lawyers Weekly Hong Kong Lawyer Asian Counsel The Brief Other trade press www.thelawyer.com www.totallylegal.com www.legalweek.com www.acc.com www.recrulex.fr www.jbb.nl www.irishjobs.ie www.seek.com www.mycareer.au Other online job boards Twitter LinkedIn Xing Facebook Other social networking Recruitment consultancies/headhunters Word of mouth/personal referrals/internal contact 14
Slide 15: Thinking of moving abroad? Thinking of moving abroad? Yes (84.7%) No (15.3%) Staying In-House, same industry (49%) Staying In-House, changing industry (40.4%) Moving into Private Practice (4.2%) Staying in Private Practice, same size firm (0.2%) Staying in Private Practice, bigger firm (0.2%) Staying in Private Practice, smaller firm (0.1%) Moving In-House (2.5%) Leaving Law altogether (3.3%) Would you consider relocating internationally for a suitably attractive opportunity? With 84.7% of in-house lawyers willing to move internationally, the view is that opportunities that exist around the globe are becoming more attractive to the modern day lawyer. With many of the respondents working in multinational companies, the scope to move around the world is always there and is vital in terms of long term career progression. Where do you see your career moving forward? Unlike their private practice counterparts, those lawyers working in-house are not looking to move to private practice (4.2%) Our study suggests that the development of sector specific skills means that nearly half (49%) of respondents expect to remain in the same industry throughout their careers. However 3% seem to have experienced some sort of existential crisis and would www.laurencesimons.com like to move out of the law completely. 15
Slide 16: Economy Economy Extremely optimistic (1.7%) Optimistic (54.4%) Indifferent (19.8%) Pessimistic (23.1%) Extremely pessimistic (1%) How are you feeling about the future of the economy over the next 12 months? Despite working in a very uncertain world, over half (54%) are ‘optimistic’ about the economy over the next 12 months. 23% still had a ‘pessimistic’ outlook for the coming months. This could be related to specific industries in which they operate. www.laurencesimons.com 16
Slide 17: Global Salaries www.laurencesimons.com Global Salaries 17
Slide 18: UK UK rather than resorting to internal headcount reductions. Salaries remained fairly static throughout 2009, with roles in some sectors, for example media and retail, paying salaries at lower levels than in previous years. The in-house legal teams within the life sciences sector also faced a challenging time with several high profile mergers and acquisitions. This has led to a wider talent pool and enforced more flexibility amongst job-hunters with regard to salary and package expectations. There were pockets of positive activity in some areas, notably the TMT sectors, where the increasingly rapid pace of digitization, the widespread adoption of mobile broadband and the introduction and development of new payment technologies enabled many in-house legal teams to ride out the downturn relatively well. Consumer facing corporates clearly suffered but perhaps not quite as badly as expected and we are now witnessing renewed optimism around the strength of UK retail sales, whilst the largest FMCG multinationals are showing themselves to be reasonably robust. Whether this revival is sustainable in the long term is a key question and much will depend on the unwinding of stimulus measures and the affect of austerity policies. Accordingly, FMCG/ retail companies are cautiously returning to business as usual. PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Median Salary £45,000 £54,000 £68,500 £76,000 £82,500 £91,000 £110,500 £112,500 £131,000 £142,500 www.laurencesimons.com 2009 proved to be an extremely challenging year for the UK legal market with almost every sector affected to some extent by the global financial crisis and economic downturn. Whilst we witnessed some redundancies in selected industries, most in-house departments chose to reduce external spend 18
Slide 19: UK Across the financial services sector 2009 saw redundancies, pay freezes and a period where recruitment was scarce or placed ‘on hold’. Hiring remains cautious for 2010 but we are witnessing a slow recovery in activity and pay increases. Bonuses were not at their previous levels leaving many disappointed lawyers who had become used to this significant boost to their earnings. Funds were particularly hard hit with only a few key hires but recent movement suggests an improvement, reflecting an upturn in business across Europe and off-shore. Within retail banking, we have seen more of a demand for skills in restructuring, litigation, corporate/commercial and those with specific product knowledge. In investment banking candidates with skill sets in derivatives, commodities and capital markets continue to be in demand. Projecting forward, we anticipate salary levels to remain fairly static during the first half of 2010 and for this to improve as lawyers begin to enter the market seeking salary increases as a reaction to reduced bonuses and pay freezes over the previous18 months. So far, 2010 has displayed a slow but steady return of confidence and we have witnessed this through a noticeable increase in hiring requests. Whilst occasionally these have been replacement positions, where companies may have scaled back too aggressively, the primary motivation behind recruiting has generally been more positive i.e. to manage an increased workload. However, whilst activity levels have begun to increase, the pace is likely to be steady at best. Mirroring the permanent market the interim sector also experienced a very difficult and challenging 2009 with a marked decline in temporary mandates compared to previous years. This trend was felt across all legal sectors with private practice being particularly affected by the downturn. With regards to the in-house sectors, organisations and financial institutions broadly consolidated their legal departments, freezing further recruitment in order to control costs and adopted a conservative approach whilst the economic outlook remained uncertain. In terms of candidates we experienced a surge in lawyers registering an interest in the interim market as redundancies and a lack of permanent opportunities encouraged candidates to adopt a pragmatic approach. 2010 has shown some signs of recovery within the interim market, particularly in certain areas of financial services and the TMT sector. Competition for roles is still fierce however with lawyers of all levels continuing to be flexible in relation to salaries which in some cases have declined. This is likely to continue for the foreseeable future as the market slowly recovers. www.laurencesimons.com 19
Slide 20: France | Ireland Ireland PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ France Median Salary €45,000 €66,000 €73,000 €84,000 €104,000 €116,000 €130,000 n/a n/a n/a PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Median Salary €36,000 €41,000 €53,000 €64,000 €79,000 €102,000 €115,000 €127,000 €136,000 €152,000 www.laurencesimons.com Despite the difficulties faced in Ireland during the downturn, some sectors fared relatively well, in particular energy, pharmaceuticals, IT and insurance - lawyer intensive industries in their own right - where we saw continued demand for lawyers with solid commercial contracts, IP and litigation experience. On the whole salaries are still attractive but not at the same levels experienced in the Celtic Tiger days Despite the fact that France escaped some of the more painful aspects of the global economic crisis, pay for in-house lawyers has remained relatively static over the past year and shows little sign of improvement in the near future. At the same time the spiralling cost of living in the country means that the actual earning power of legal professionals may now be lower than it was in 2008. 20
Slide 21: Italy | Spain Italy PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Spain Median Salary n/a n/a €54,000 €68,000 €86,000 €92,000 €108,000 €113,000 €129,000 €147,000 PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Median Salary €26,000 €34,000 €46,000 €58,000 €68,000 €81,000 €90,000 €103,00 €110,000 €131,000 There has been a growing acceptance of the value of in-house legal departments in Italy and a consequent mini ‘war for talent’ as organisations seek out lawyers with the necessary skills and experience. We have noticed that the economic downturn has hit the law firms in particular and although this has not translated into a high number of redundancies Associates are turning to the in-house option to seek an alternative career. The general economic downturn has meant that, at least so far, this has not translated into any noticeable rise in remuneration levels. The Spanish in-house market remains something of a ‘closed shop’ with few if any organisations recruiting outside the country. As a result of this, and of the substantial damage done to the Spanish economy by the recession, salaries have remained static with little sign of early recovery. www.laurencesimons.com 21
Slide 22: Benelux Luxembourg PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Holland Median Salary €29,000 €45,000 €57,000 €65,000 €89,000 €102,000 €111,000 €125,000 €140,000 €162,000 Belgium Median Salary €28,000 €48,000 €58,000 €66,000 €78,000 €93,000 €104,000 €139,000 €142,000 €148,000 PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Median Salary €28,000 €42,000 €54,000 €68,000 €77,000 €93,000 €105,000 €110,000 €140,000 €151,000 NB: All figures refer to base salary alone. Pay and benefits have been static throughout 2009 although there is some anecdotal evidence that we may see an improvement in the situation over the next few months. Organisations in the Netherlands continue to offer generous benefits packages including healthcare, pensions and childcare facilities and expatriates in the country can also take advantage of a favourable personal taxation scheme. www.laurencesimons.com 22
Slide 23: Germany | Poland Germany PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Poland Median Salary €43,000 €50,000 €64,000 €80,000 €87,000 €96,000 €105,000 €121,000 €145,000 €160,000 PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Median Salary €29,000 €40,000 €42,000 €51,000 €63,000 €64,000 €82,000 €98,000 €122,000 €138,000 As in many other countries most in-house departments maintained their existing headcount through the worst of the downturn although pay freezes were virtually ubiquitous. We do not expect to see much improvement in pay until well into the second half of the year despite a noticeable increase in hiring activity at all levels. The market for in-house lawyers in Poland is a relatively new one but is being fuelled by a growing desire to keep the cost of legal services down to an acceptable level. Despite the increasing number of in-house lawyers in the country basic pay still tends to be lower than that on offer in law firms although benefits such as bonuses are helping to bridge the gap. www.laurencesimons.com 23
Slide 24: www.laurencesimons.com Switzerland | Russia Switzerland PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Russia Median Salary CHF118,000 CHF132,000 CHF154,000 CHF169,000 CHF188,000 CHF221,000 CHF229,000 CHF262,000 n/a n/a PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Median Salary RUB1,632,000 RUB1,750,000 RUB1,890,000 RUB2,980,000 RUB3,320,000 RUB3,670,000 RUB4,060,000 RUB4,840,000 RUB6,100,000 RUB7,750,000 There was some slow down in the Swiss market over 2009 including hiring freezes. Encouragingly though, in early 2010, there has been an increase in activity with many Swiss companies posting positive results at the end of the first quarter. In 2009 there were polarising trends at the two ends of the market with junior and new positions seeing a slight drop in salaries and the high end remaining relatively constant or showing slight increased levels. Bonus levels were reduced or not paid out in 2009 although it is anticipated in 2010 that bonus levels may return to normal. 24 Following the economic crisis of 2008 and a period of downturn in 2009 the Russian in-house legal market is now showing signs of recovery. Recruitment activity is picking up at all levels for lawyers with generalist commercial skills in both multinational and domestic companies. Rewards have remained relatively static and, whilst candidates with good international experience can still demand high salaries, the expectations of huge pay increases so common in the boom years have been consigned to history.
Slide 25: Middle East Middle East PQE 0-1 2-3 4-5 6-7 8-9 10+ NB: All figures refer to base salary alone. Median Salary US$64,200 US$82,500 US$165,800 US$195,000 US$200,800 US$250,000 Despite Dubai’s well-documented economic woes, the Gulf region as a whole has held up relatively well through the downturn. However the boom time for lawyers here is most definitely over, at least in the short term and pay levels have remained flat with little sign of any early rise. It is quite usual in the Middle East for the benefits package to total an additional US $25,000 or more. www.laurencesimons.com 25
Slide 26: www.laurencesimons.com Hong Kong/Mainland China Hong Kong Mainland China PRC Qualified Lawyers with Local Experience PQE 0-1 2-3 4-5 6-7 8-9 10 - 13 14 - 20 21+ NB: All figures refer to base salary alone. Median Salary HK$610,000 HK$790,000 HK$1,200,000 HK$1,320,000 HK$1,480,000 HK$1,700,000 HK$2,150,000 HK$2,490,000 PQE 3-5 6-8 9 - 10 1 1 - 14 15+ Median Salary US$31,500 US$38,000 US$61,000 US$69,500 US$84,500 PRC Qualified Lawyers with Overseas Experience PQE 3-5 6-8 9 - 10 Median Salary US$53,000 US$73,500 US$98,000 US$121,000 US$153,500 Despite the continuing growth of the Chinese and Indian economies and its knock-on effect in the region, in-house salaries have remained static over the past year although we are now beginning to see the end of many of the pay freezes imposed during the worst of the downturn. Overall, there were not as many lay-offs in-house as there were in law firms. There is an increasing demand for lawyers with the potential to cover the full region combined with Asian language skills as employers are looking to get as much as possible for their dollar. 26 1 1 - 14 15+ International Lawyers PQE 3-5 6-8 9 - 11 1 1 - 15 15+ Median Salary US$121,500 US$168,500 US$202,500 US$230,000 US$247,000
Slide 27: Singapore Singapore Qualified with Local Experience PQE 3-5 6-8 9 - 10 1 1 - 14 15+ Median Salary S$61,500 S$84,500 S$119,500 S$126,000 S$182,000 Overall the Singapore market has remained stable and the main areas of activity have been in the IT/Tech/Telcom sectors. However, the demand has been for domestic as opposed to international lawyers. There has also been more demand for lawyers on the ground in some countries; including Malaysia, Indonesia, Philippines and Vietnam and salaries will usually be lower in these countries than in Singapore or Hong Kong. There is a willingness to pay above market rate for specific types of skill-set and/or experience and bonuses are also still being paid, albeit at fairly modest levels. International Qualified Lawyers PQE 3-5 6-8 9 - 10 1 1 - 14 15+ NB: All figures refer to base salary alone. Median Salary S$93,000 S$133,000 S$148,500 S$172,500 S$211,000 www.laurencesimons.com 27
Slide 28: Middle East/India India PQE 3-5 6-8 9 - 10 11 - 14 15+ NB: All figures refer to base salary alone. Median Salary Rs1,200,000 Rs1,800,000 Rs3,400,000 Rs4,300,000 Rs6,200,000 Salaries in India largely remained stagnant through 2009, though we have seen increases for senior lawyers with in-demand experience. Lawyers heading transactional teams in MNCs and financial institutions, who have overseas as well as local experience, command larger packages. Demand for overseas experienced Indian lawyers coupled with some companies looking to place lawyers in India who will handle India and APAC work has placed some noticeable upward pressure on salaries in 2010. Given the diversity of levels of experience in the still developing Indian legal market many lawyers remain on very www.laurencesimons.com low salaries whilst others command salaries on a par with Asia Pacific levels. 28
Slide 29: Australia Australia PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Median Salary AUS$73,000 AUS$88,600 AUS$109,800 AUS$135,200 AUS$155,700 AUS$180,000 AUS$195,000 AUS$230,800 AUS$250,000 AUS$285,800 Although no country escaped the general economic downturn completely unscathed, Australia seems to have been less affected than many. As a result pay for in-house lawyers here has held up well and few if any departments have found the need to shed staff over the past year. www.laurencesimons.com 29
Slide 30: North & Latin America North America PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ NB: All figures refer to base salary alone. Latin America (Brazil) Median Salary US$105,500 US$115,600 US$145,300 US$160,400 US$175,000 US$190,900 US$220,700 US$280,000 US$300,000 US$250,000 PQE 0-1 2-3 4-5 6-7 8-9 10 - 11 12 - 13 14 - 15 16 - 20 21+ Median Salary R$39,000 R$56,000 R$74,000 R$78,000 R$95,000 R$150,000 R$175,000 R$226,000 R$304,000 R$395,000 Unlike law firms that saw extensive layoffs in 2009, most inhouse departments battened down the hatches and managed to maintain headcount by freezing pay, slashing bonuses and shelving recruitment plans. As the market improves we are seeing a definite if modest return to hiring and, in some areas, a correspondingly small improvement in reward levels. www.laurencesimons.com The market in Brazil remains very strong evidenced by the influx of law firms primarily in to Sao Paulo and Rio. As such there has been noticeable upward pressure on pay - in some cases by as much as 20% for in-house lawyers and 30% for law firm practitioners. Lawyers with solid experience in corporate, banking, compliance and tax are most in demand and able to command a premium to move in the current climate. 30
Slide 31: Acknowledgement Acknowledgement If you spent five minutes completing the survey then many thanks for your support. If you didn’t, please do take part next year! Should you be anticipating any changes or hiring within your own department or perhaps would like to discuss your own career, please do get in touch. Naveen Tuli | Managing Director Laurence Simons 322 High Holborn London WC1V 7PB e: naveen.tuli@laurencesimons.com T: +44 (0)20 7645 8500 Disclaimer www.laurencesimons.com This research was carried out by means of an electronic questionnaire. The remuneration tables are supplemented with data and market information that Laurence Simons has access to. The results are provided as generic market information only. Laurence Simons does not make any warranties regarding the use, validity, accuracy or reliability of the results and information obtained. Laurence Simons will not be liable for any damages of any kind arising out of or relating to use of this information. 31
Slide 32: Useful Contacts Useful Contacts If you would like a confidential conversation about your career or recruitment needs please get in touch with one of our offices around the globe where our dedicated and experienced consultants will be able to give you professional and discreet advice on the in-house legal market and opportunities. If your location is not listed below then please contact our London headquarters. London (Headquarters) T: +44 (0)20 7645 8500 E: london@laurencesimons.com Amsterdam (Benelux, Nordics & Germany) T: 31 20 520 6812 E: amsterdam@laurencesimons.com Chicago (North America) T: 1 (312) 853 8000 E: chicago@laurencesimons.com Dubai (Middle East) www.laurencesimons.com Dublin (Ireland) T: +353 (0)1669 8522 E: dublin@laurencesimons.com Geneva (Switzerland) T: +41 (0)7 8778 6031 E: geneva@laurencesimons.com Hong Kong (Asia) T: (852) 3154 9271 E: hongkong@laurencesimons.com Melbourne (Australia) T: +61 (0)3 8677 6750 E: melbourne@laurencesimons.com Moscow (Russia, Central & Eastern Europe) T: +44 (0)20 7645 8500 E: moscow@laurencesimons.com Paris (Southern Europe) T: + 33 (1) 5652 9201 E: paris@laurencesimons.com Sao Paulo (Latin America) T: + 55 11 3521 7390 E: saopaulo@laurencesimons.com Sydney (Australia) T: +61 (0)2 8088 3650 E: sydney@laurencesimons.com T: +971 (0)4 305 0860 E: dubai@laurencesimons.com 32
Slide 33: www.laurencesimons.com 33

   
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