Survey reveals decreasing lawyer compensation in Canada
The results of Canadian Lawyer’s 2012 Compensation Survey, have been released, showing that salaries continue to be affected by a tough economic climate.
The survey garnered responses from 161 managing partners and sole practitioners from across Canada, as well as insight into the workings of in-house legal teams with 74 chief legal officers and corporate legal department heads responding. The report showed that median salaries of first-year associates is down by around $3,500 to hit $72,500, while first-year in-house counsel took home a median salary of $77,500, down by $7,500 from last year.
The survey reveals the reassuring news that 45 per cent of firms intend to hire more lawyers in the coming year, while 53 per cent plan to keep the same number of lawyers and just two per cent plan to downsize.
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