Principal Areas of Demand
The London market is dominated by finance and corporate legal expertise; however, there are other areas of demand as set out below. Principal areas of demand include:
- Asset Finance
- Leveraged Finance
- Project Finance
- Structured Finance
- Capital Markets
- Banking/Commercial Litigation
Lawyers are remunerated well in London. The highest salaries are paid by the US firms paying New York rates (c£80,000+ at NQ level), followed by those paying ‘Mid-Atlantic rates’ (c£60,000+ at NQ level). The leading UK firms’ salaries typically start at c£50,000 for the NQ level. The top rate of tax in the UK is currently 40%.
The standard annual leave allowance in the UK is 25 days and this can increase with service. New York firms do tend to offer less holiday, usually c15 to 20 days.
The leading firms generally offer such benefits as health insurance, pension and subsidised gym membership.
London can cater to all tastes and interests. The city is a leading centre for the arts including the West End’s world famous theatrical productions, Covent Garden’s opera and ballet and the various internationally renowned art galleries. London also offers an array of bars, restaurants and clubs.
London is a major transport hub, providing access to Europe and the rest of the world. The ‘no frills’ airlines offer cheap flights to many European destinations, making it very affordable to take short breaks to Europe.