20180705 Blog Legal Finance Market Insights Q3 2018

Legal Finance Market Insights Q3 2018

Published on 5th July 2018

Billing demand has continued to increase throughout Q2, with all our clients looking for interim and permanent hires. We are continuing to see a need for e-billing experience both in focused e-billing roles or as part of a billing position.  

Skills in demand 

There have been newly created roles coming into the legal finance market, focusing on Finance Project Management. These roles are ultimately to drive revenue and help coordinate all teams involved in pricing, revenue and the fee earners themselves. They are real value add roles and require people with strong business partnering experience and a solid understanding of financials, without needing an accountancy qualification. 

Predictions for the coming quarter

A real lack of candidates in the market across the majority of legal finance roles looks set to continue into Q3.

Financial Reporting is being spoken about quite heavily in the legal market at the moment, this is potentially a sign that more law firms are looking to float IPO’s in the future? Being a traditional industry, law firms historically haven’t needed to (or probably wanted to) spend too much time on reporting however in order to continue to drive growth and work as a commercial, profitable organisation, it is imperative that firms invest in reporting tools to better prepare them for the future. This will no doubt see a need for strong FP&A and financial reporting experts. 

Advice for employers

Broaden horizons and look outside of legal for good calibre billers. The market is candidate short of legal billers and it is advised to all our clients to be open-mindedto seeing CVs with no legal billing. There are many outstanding calibre billers outside of the legal sector looking for a step in.

Move quickly with the interview process. Delaying the interview process for many weeks can potentially result in losing good calibre candidates. If you liked a candidate and could potentially see them working there, ensure you provide positive feedback and book in the 2nd stage within a week to keep them interested.

As we are in a candidate short market and the best candidates are likely to be interviewing at other firms, it is crucial to represent your firm in the best way possible and sell yourselves, in order to secure the best talent and stand out from your competitors.

Advice for jobseekers

Be proactive in each job that you are applying for. 

Ensure your CV is reflective of the role you are applying for and add any duties listed on the job description that are not on your CV already.

Take us up on the interview preparation that we offer - preparation is key!

 

Legal Finance & Accounting Salaries Q3 2018

Job title

Annual salary range (£)

Contract rate (£)

Accounts Payable

Accounts Payable Supervisor

35K - 50K

21 - 30 an hour

Accounts Payable (2 years+)

25K - 32K

15 - 20 an hour

Accounts Payable (up to 2 years)

20K - 25K

12 - 15 an hour

Billing

Billings Manager

45K - 60K

28 - 37 an hour

Senior Legal Biller

38K - 45K

23 - 28 an hour

Legal Biller (2 years+)

28K - 37K

17 - 22 an hour

Legal Biller (up to 2 years)

25K - 35K

15 - 21 an hour

eBilling

Senior eBilling Coordinator

35K - 45K

21 - 27 an hour

eBilling Coordinator

30K - 35K

18 - 21 an hour

Revenue

Revenue Manager

40K - 80K

25 - 50 an hour

Revenue Controller

35K - 45K

21 - 27 an hour

Revenue Assistant

25K - 34K

15 - 21 an hour

Credit Control

Credit Manager

45K - 70K

28 - 40 an hour

Credit Controller (2 years+)

30K - 42K

18 - 26 an hour

Credit Controller (up to 2 years)

25K - 28K

15 - 17 an hour

Cashiering

Head Cashier

45K - 65K

28 - 40 an hour

Senior Legal Cashier

35K - 45K

21 - 28 an hour

Legal Cashier (2 years+)

30K - 35K

18 - 23 an hour

Legal Cashier (up to 2 years)

25K - 32K

15 - 18 an hour

Financial/Management Accounting

CFO

£200K+

 

Finance Director / Head of Finance

140K - 250K

1000 - 2000 per day 

Financial Controller 

90K - 150K

600 - 1000 per day

Fully Qualified Accountant (5 years PQE)

70K+

300 - 400 per day 

Fully Qualified Accountant (3-4 years PQE) 

65K - 75K

280 - 400 per day 

Fully Qualified Accountant (1-2 years PQE)

55K - 65K

230 - 280 per day 

Newly Qualified Accountant

45K - 55K

200 - 250 per day 

Part Qualified Accountant

25K - 45K

15 - 21 an hour

Finance Systems Analyst

40K - 65K

350 - 600 per day 

Finance Systems Manager

70K - 90K

400 - 600 per day

Accounts Manager

55K - 80K

30 - 50 an hour

Commercial

Head of Pricing

100K-120K

600+ per day

Business Manager

90K - 150K

600 - 800 per day

Pricing Manager

70K - 90K

400 - 600 per day

Commercial/Pricing Analyst (qualified)

55K - 70K

300 - 400 per day

Commercial/Pricing Analyst (non-qualified)

45K - 55K

200 - 250 per day

 

Notes on salary table

1. Titles and levels vary from organisation to organisation.
2. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
3. 12-month base salaries are assumed.
4. All other benefits and bonuses are in addition to these figures.
5. Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances.