GAZETTE
M
W H
APRIL 1994
A r e We Over -Paid?
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
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
!
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.
•
Younger Members
Committee
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
or as a group. If interested,
contact
Robert Boland
at
(01)6715522.
With the ever-increasing number of
S A D S I N e w s
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
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!
•
Barbara Loftus and Paul Lavery.
74