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What does an Insolvency Lawyer earn?
Insolvency Lawyers in the UK typically earn around £75,500 per year. They provide expert legal advice and assistance to clients who are struggling with debt and need help to manage their financial situation. Insolvency Lawyers can advise on a variety of specific areas such as bankruptcy, creditor disputes, liquidations, voluntary arrangements, and company voluntary arrangements.
How to earn more as an Insolvency Lawyer
To become an insolvency lawyer, you will need to complete a degree in law. Depending on the field you choose, you could further specialise in company, insolvency or commercial law. To boost your chances of earning a higher salary, you could become a chartered insolvency practitioner or sit optional exams to gain additional qualifications. The highest paid insolvency lawyers can earn over £135,000 per year.
Min: £51,000.00 Max: £135,000.00
Average Insolvency Lawyer Salary in UK : £75,525.76
Read about Insolvency Lawyer salaries, related jobs and salary information across the UK
Insolvency Lawyer Salary data from the ONS
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Recommended Insolvency Lawyer Jobs in UK
Average Salary for Insolvency Lawyer compared to similar jobs
Related Jobs
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| Job Title | UK Average |
|---|---|
| Arbitrator Salary in UK | £24,999.91 |
| insolvency practitioner Salary in UK | £36,458.33 |
| Human Rights Lawyer Salary in UK | £44,500.82 |
| Personal Injury Lawyer Salary in UK | £45,107.35 |
| Criminal Lawyer Salary in UK | £45,648.73 |
| Probate Lawyer Salary in UK | £48,660.49 |
| Negligence Lawyer Salary in UK | £48,908.31 |
| Family Lawyer Salary in UK | £49,022.62 |
| Lawyer Salary in UK | £51,130.79 |
| Property Lawyer Salary in UK | £52,763.55 |
| Litigation Lawyer Salary in UK | £55,196.68 |
| Agricultural Lawyer Salary in UK | £56,030.51 |
| Immigration Lawyer Salary in UK | £56,224.53 |
| medical lawyer Salary in UK | £57,435.31 |
| Planning Lawyer Salary in UK | £60,682.94 |
Salary by Region
Compare Insolvency Lawyer salaries across different regions
| Region | Salary |
|---|---|
| Scotland | £67,687.50 |
| Wales | £74,000.00 |
| Northern Ireland | £40,000.00 |
| East Midlands | £56,153.85 |
| Eastern | £72,414.29 |
| London | £115,353.37 |
| North East | £60,916.67 |
| North West | £59,200.90 |
| South East | £59,296.76 |
| South West | £61,193.90 |
| West Midlands | £58,430.23 |
| Yorkshire and the Humber | £56,285.71 |
Annual Job Ads by Region
Understanding the Average Insolvency Lawyer Salary in the UK
As an insolvency lawyer in the UK, it is important to have a clear understanding of the average salary in this field. According to average Legal salaries, the average salary for an insolvency lawyer in the UK is £75,500 per year. This figure can vary depending on factors such as experience, location, and the size of the firm you work for.
Salary Expectations for Newly Qualified Insolvency Lawyer
If you are a newly qualified insolvency lawyer, you may be wondering what salary you can expect. To get a better idea, you can explore the available opportunities on the job market by visiting the job search section. This will give you an insight into the current salary ranges for entry-level positions in this field.
Salaries for Experienced Insolvency Lawyer
As you gain more experience as an insolvency lawyer, your salary is likely to increase. Experienced insolvency lawyers can earn a higher salary compared to their newly qualified counterparts. The exact salary range for experienced professionals can vary, but it is typically between £51,000 and £135,000 per year.
Creating an Insolvency Lawyer CV
When applying for a job as an insolvency lawyer, having a well-crafted CV is essential. To help you create a professional and effective CV, you can use the CV template specifically designed for insolvency lawyers. This template will guide you in highlighting your skills, qualifications, and experience in the best possible way.
Career Development Opportunities for Insolvency Lawyer
As an insolvency lawyer, there are various career development opportunities available to you. Whether you want to specialize in a specific area of insolvency law or progress to a senior position within a law firm, it is important to have a clear career path. To gain valuable insights and guidance on how to become a successful insolvency lawyer, you can explore the career advice section.
Comprehensive Compensation for Insolvency Lawyer
Aside from the base salary, insolvency lawyers may also receive comprehensive compensation packages. These packages can include bonuses, profit-sharing, health insurance, retirement plans, and other benefits. The specific details of the compensation package can vary depending on the law firm and your level of experience.
Strategies for Increasing Your Salary as an Insolvency Lawyer
If you are looking to increase your salary as an insolvency lawyer, there are several strategies you can employ. These include gaining additional qualifications, specializing in a niche area of insolvency law, taking on more responsibilities within your firm, and consistently delivering high-quality work. By continuously improving your skills and demonstrating your value, you can negotiate for higher compensation.
Professional Development and Earnings
Continuing professional development is crucial for insolvency lawyers to stay up-to-date with the latest legal developments and enhance their earning potential. By attending relevant seminars, workshops, and conferences, you can expand your knowledge and network with other professionals in the field. This can lead to new opportunities and potentially higher earnings.
Capitalizing on Extra Hours and Duties
As an insolvency lawyer, there may be times when you are required to work extra hours or take on additional duties. While this can be demanding, it can also present opportunities for increased earnings. Many law firms offer overtime pay or bonuses for working beyond regular hours. Additionally, taking on additional responsibilities can showcase your dedication and potentially lead to promotions or salary advancements.
