Investment Managers, Private Equity & Family Offices
Asset managers have continued to offer extremely competitive salaries, despite the continued rise of private practice salaries due to the high interest in candidates from Magic Circle and US firms. Those who may not be able to be competitive on the basic salary have been able to make salary packages more attractive with bonus potentials of at least 50% and we are seeing increasing cases of bonus potential falling within the 50-100% range. Those offering the opportunity for lawyers to work on growing sustainable investment strategies have also been able to attract top tier talent in the market as we have seen this become more of a key attraction for lawyers when considering and comparing opportunities. Nevertheless, despite last year offering more promise of investment managers embracing more flexible working, we have found a significant increase of firms “We are seeing increasing cases of bonus potential falling within the 50 -100% range” [1] Tomson Reuters
reducing this and implementing requirements for employees to spend 4-5 days in the office, more than what is considered the standard hybrid model today, which is 2-3 days in the office and the preference of 86% of lawyers[1]. With law firms offering extremely competitive salaries along with better hybrid working models for lawyers, asset managers have increasingly found it difficult to hire when they are behind the curve on flexible working.
Market Overview London
6
2023
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