The Gazette 1994

GAZETTE

M W H

APRIL 1994

A r e We Over -Paid?

are promoted to a partnership with the first five years tend to earn somewhat more, in some cases as much as £25,000 by the fifth year after qualification. The results of the survey indicate that about 10% of those replying were self-employed or partners in a firm. Of those 10% approximately 25% became self-employed by starting their own practice. 50% were promoted within a firm, 20% inherited a practice and the balance bought out j a practice. Therefore, only 2.5% of the solicitors who responded had actually set up their own practice within five years of qualification. The survey showed that in the first year after setting up a practice, a solicitor earned a gross salary of less than £10,000.00. This salary appears to have increased gradually over the years and after five years rose on average to between £17,000.00 and £20,000.00, but against this it has been estimated that the start up costs solicitors' apprentices, and the problems which they are bound to face from time to time, remember that SADSI is YOUR representative body. In this regard, John Menton as SADSI's Education Officer is now a voting member of the Education Advisory Committee. If there are any issues which you feel should be raised on your behalf at these meetings, please contact John at (01) 6764661 or Philippa at (01)6763721. Presently, SADSI are compiling the accommodation register to help apprentices seeking short term accommodation while attending courses at Blackhall Place. This has proved to be a great success with previous courses and is being updated with the March/August courses S A D S I N e w s

The Younger Members Committee carried out a salary survey in April, 1993 of all solicitors who qualified within the last seven years. There were 240 replies to the survey with 46% of replies from Dublin and 54% from the rest of the country. It is estimated that there are approximately 1,000 solicitors in practice who have qualified within the relevant seven year period. Most of the solicitors who responded were employed as assistant solicitors in a firm in the first five years after qualification. These solicitors were paid an average gross salary of £13,000.00 in the first year after qualification. This is broadly in line with the Law Society's recommended salary for assistant solicitors, although it was noted from the survey that some solicitors were paid as little as £5,000 to £7,000 in their first year of qualification. There appears to be a gradual increase in salary for employed solicitors over the first five years of their employment. Those who Having held its first social event of the year on the 21 January, the 110th session of SADSI is well underway! The "Poxy Dress Dance" in Monkstown RFC was an "unbridled" success, with a particularly large motley crew of apprentices present!! As you will have noted from Auditor Philippa Howley 's recent letter, many more events are scheduled for the near future. Check your letter and watch this space! One such event is the upcoming Ceili night on 15 April. Any traditional musicians out there are invited to play either individually

for someone setting up in practice on j their own are not less than I £15,000.00 - £20,000.00 (excluding salary). Those few who were brave enough to buy out a practice from another solicitor also appear to have fared slightly better than the employed solicitor, in that they had an average starting salary in the region of £18,000.00 in the first year after the practice is bought out. However, presumably the cost of borrowing to buy the practice must also be taken into account. This survey gives a rough guide to what may be expected in the first five years of qualification. When one takes into account the costs of getting through university and the apprenticeship system, it is clear that for the majority of newly-qualified solicitors the legal profession is no gravy train. • specifically in mind. Anyone who has accommodation to offer or who is seeking accommodation should contact Fidelma McManus at (01) 6763721. Through this column, SADSI hopes to keep you informed of all matters relevant to apprentices. As your Society, we invite any articles, submissions or items of news which you would like featured on this page. Ideas or suggestions you may have in relation to events or the running of the society are most welcome and should be sent to: Barbara Loftus (Fax 096-22336) or Paul Lavery (Fax 01-8290010). See you next month! • Younger Members Committee

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or as a group. If interested, contact Robert Boland at (01)6715522.

Barbara Loftus and Paul Lavery.

With the ever-increasing number of

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