Ignoring other factors like diversity and business etc, i'm really debating over this for my next cycle.
I'm from near the peak district and could easily work in Sheffield, Manchester, Leeds. If it's 40k vs 100k then it's London no brainer. But for the higher paying firms like DLA piper, I'm not sure which to apply to. I'm keen to experience London, but if I can live at home and commute to Sheffield, earning 75k NQ (mind, DLA is an outlier), I would be RAKING IT IN. Could be putting 40k a year into savings/investments/house deposit. Vs earning 110k in London, and just about being comfortable.
Salaries are not £40k in the North West if a firm is paying £100k in London.
For instance, DLA is £110k in London and £75k outside of London for an NQ role
CMS is £110k in London and £62k in the North West
Eversheds is £100k in London and £65,500 outside of London
I also live a lot closer to the north than London, so I was initially considering cities like Liverpool, Manchester, Sheffield and Leeds as opposed to London. I went to open days for a few of these firms e.g., DLA Piper and Squire Patton Boggs. The trainees and associates there mainly came from regional backgrounds and said they chose to stay there instead of considering a career in London. They said that these firms operate as a single entity in the UK, meaning the work is the same across all offices. I guess if people are interested in working on international matters (cross-border, multi-jurisdictional deals and disputes), there shouldn’t be a concern that all the work is London based. At these firms, I think it is spread across all of their UK offices. 🙂
In addition to the above firms, there are also others which offer similar salaries in both the regions and London:
Hogan Lovells: £85,000 in Birmingham and £135,000 in London.
Squire Patton Boggs: £70,000 in the regions and £110,000 in London.
BCLP: £68,000 in Manchester and £105,000 in London.
Addleshaw Goddard: £65,000 in the regions and £100,000 in London.
Shoosmiths: £63,000 in the regions and £97,000 in London.
Pinsent Masons: £62,000 in the regions and £97,000 in London.
I think if someone is interested in these kind of firms, it is certainly worthwhile to consider their regional offices as well as London (factoring in the insane cost of living in London at the moment), but if someone is interested in the Magic Circle or US firms, which pay £150,000 - £180,000, then perhaps London is more attractive. I don’t know how expensive London is, but I imagine if someone wants a comfortable lifestyle, they would need at least £100,000 after tax. That might be an over estimation though. 🥲
In addition to the above firms, there are also others which offer similar salaries in both the regions and London:
Hogan Lovells: £85,000 in Birmingham and £135,000 in London.
Squire Patton Boggs: £70,000 in the regions and £110,000 in London.
BCLP: £68,000 in Manchester and £105,000 in London.
Addleshaw Goddard: £65,000 in the regions and £100,000 in London.
Shoosmiths: £63,000 in the regions and £97,000 in London.
Pinsent Masons: £62,000 in the regions and £97,000 in London.
I think if someone is interested in these kind of firms, it is certainly worthwhile to consider their regional offices as well as London (factoring in the insane cost of living in London at the moment), but if someone is interested in the Magic Circle or US firms, which pay £150,000 - £180,000, then perhaps London is more attractive. I don’t know how expensive London is, but I imagine if someone wants a comfortable lifestyle, they would need at least £100,000 after tax. That might be an over estimation though. 🥲
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