In-house legal experts are commanding larger salaries than ever before, a new study has revealed.
According to Income Data Services (IDS), the average salary of an in-house lawyer has risen by 6.8 per cent compared to last year, Legal Week reports.
The average yearly wage of in-house legal experts is now £114,658, with the highest reported annual paycheque reaching £277,000.
Steve Tatton, the IDS executive compensation review editor, noted that the sector is highly competitive.
"Our survey shows that the battle for legal talent is not confined to big City law firms. It seems that industrial and commercial employers also have to pay over the odds to ensure they recruit the best people," he told the news source.
Furthermore, in-house lawyers can expect to receive a bonus equal to a third of their yearly wage, the research discovered.
A recent report by CV Screen found that IT professionals working in London have seen a 4.3 per cent increase in wages over the past year.
An IT worker in the capital now earns, on average, £38,577 a year.