London Tax Chambers Lift Pay for ‘Baby Barristers’
While there has been much written about the lift in London law firm pay for first year lawyers, little has been reported about starting work at Barrister Chambers. However now a small, tax-based Chambers has promised its first year ‘pupils’ a six figure sum.
Gray’s Inn Tax Chambers has just 12 members but practices in the lucrative tax arena as the name tells us and has lifted its first year pay to graduates to £100,000, which is a £30,000 increase over the previous amount. The Chambers are looking to offer two pupillages next year, according to a UK report.
The £100k amount is not uncommon in commercial chambers, depending upon the performance of the young barristers. However the pay for first year law graduates is beyond what even the big firms are paying, which is around £60,000, which will vastly increase after two years when they are fully qualified.
Many of the other London chambers pay around £75k but these can be topped up later in their year, which may equal the amount Grays Inn Tax are paying.
Many barrister chambers pay around £50,000 for the year of pupillage.
The Lawyer Portal reports that during the first year of qualification barristers can expect to bring in anything from £12,000 to £90,000 depending on the nature of the work. As they increase their case load the rate will increase and the website reports that within five years of experience a barrister can expect to earn between £50,000 and £200,000.
A barristers salary will continue to increase, with 10-years qualified barristers looking at a salary between £65,000 and over £1 million.