Wake Up Call: London Lawyer Pay Explosion ‘Not Sustainable’

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• The surge in lawyer pay in London’s legal market is unsustainable, according to Jeremy Hoyland, managing partner at Simmons & Simmons. Salaries for both partners and junior lawyers have skyrocketed, driven by US firms and private equity work. While profits have soared, Hoyland warns this growth can’t last, as the industry faces intense competition and increasing pressure on staff. (FN London)
• Womble Bond Dickinson will be the first major law firm in the UK to roll ...