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Exclusive - College of Law pays its CEO over £400k
11 June 2010
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The College of Law has released its accounts for 2009, revealing that Chief Executive Nigel Savage has received a  financial-crisis-busting 40% payrise. That means he takes home £440,000 in salary and bonuses - and that's before any pension contributions and extra-large wallet allowances are taken into account.

The gravy train continues throughout the management board. Deputy chief exec Alan Humphreys received a generous 33% uplift to £410,000, and every member of the seven-strong board is paid more than £190,000 - an average of £275,000 each.

    Mr Savage on the way to pick up his salary, followed closely by his colleagues

The College of Law is a charity, and so its governors decide on management remuneration, acting in the best interests of the charity. David Yates, chairman of the governors, told RollOnFriday that the College received advice on remuneration and benchmarked its salaries against comparable organisations and its private sector competitors (his full statement can be read here).

However Savage is pocketing more than the Vice Chancellor of every UK university (other than the London Business School), and almost double what  the Vice Chancellor of Cambridge takes home. Amongst charities, Cancer Research UK only pays its boss a modest £270,000, the National Trust pays £160,000 and Oxfam pays a piffling £108,000. And RollOnFriday can reveal he gets four times the pay of the chief executive of a certain leading private law school. So the College has done some pretty crafty benchmarking.

The CoL's students, most of whom pay their fees out of their own pockets, may wonder whether these salaries are really justifiable. The Charities Commission told RollOnFriday that it will investigate instances of "charities deliberately being used for significant private advantage" and that members of the public were free to make a complaint if they wished to do so.
 
  

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anonymous user
05/12/2014 09:16
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erm, that would be just "Brigadier" (minus the "General") if you're talking about the British Army. Sorry.
anonymous user
05/12/2014 10:24
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Apologies for pedantry but I disagree. Brigadier is a one star general so I think RoF are right on this one.
anonymous user
05/12/2014 10:29
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Not unless you're American. Yes, it's a one-star rank, but "Brigadier (aka 1 star)
Brigadier is not considered to be a General Officer rank by the British Army..." [a]http://www.army.mod.uk/structure/32321.aspx[/a] .

Let the pedantry fly free!
anonymous user
05/12/2014 10:30
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The comparisons with soldiers' salaries are a bit facetious and miss the point, which is that Cleary UK associates are expected to work the vast hours that associates at peer US firms such as Skadden work, but without the recognition at bonus time. Such short-term miserliness will damage the London office in the long-term, because it will harm recruitment: unless they rethink their bonus policy Cleary looks very unattractive compared to its US peer firms.
anonymous user
05/12/2014 10:44
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Of course, it's all very attractive compared to MC salaries. I read something in the German legal press explaining the huge difference in salary between the most prestigious (ie MC) firms, and the US firms, on the basis that the MC firms recruited mainly at trainee level at were able to exploit the loyalty of their rusted-on staff not to jump ship for higher salaries, while American firms didn't to the same extent and had to pay highly to attract laterals.

It's a shame loyalty is such a disadvantage in the London market...
anonymous user
05/12/2014 11:21
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I think it would be more informative if there can be a comparison table as to the percentage US associates get - at the moment you are comparing apples and pears (percentages vs numbers).
anonymous user
05/12/2014 11:28
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£107,000 isn't bad nuts for a monkey scribe but it's still poor when they could be getting £300k a week if they found a new role in the number 10 Jersey at MUFC.
anonymous user
05/12/2014 11:57
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I know a few people that work there and the impression I have is that such a stingy bonus, in comparison to the US scale, after a relentlessly busy year has really hit morale.
anonymous user
05/12/2014 12:30
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Given that trainees also get 12% morale is not noticeably low at the junior end at least
anonymous user
05/12/2014 15:02
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I love a good fact hunt!
anonymous user
05/12/2014 16:27
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oh dear, oh dear, how will they cope with only 12%?? They should try getting by with a mere 0.5% combined salary increase and bonus!!!
anonymous user
05/12/2014 22:44
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Boo f@!?ing hoo. They are still getting laid handsomely for mainly meaningless "negotiation". Count your blessings bellends.
anonymous user
06/12/2014 01:13
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Clearly another story deliberately leaked by Cleary recruitment to piss off MC management. IN WHAT WAY IS 12% ACROSS THE BOARD LOW??? Can someone explain to me?
anonymous user
07/12/2014 21:21
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Lol at everyone saying 12% is a huge bonus. It isn't if you bill 2200 hrs. An NQ there will be billed out at £230/hr+ or so, pulling in £500k for the partnership. £107k is a bit rude - probably £30/hr. Less than most plumbers.
anonymous user
07/12/2014 23:08
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Lol even more at those who choose to work similar amount of hours for national minimum wage rate at MC firms
anonymous user
08/12/2014 02:25
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Yeah. I wish I was "getting laid handsomely".
anonymous user
08/12/2014 19:59
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It's in the context of S&M paying 3% and A&O paying 0% to trainees. Be grateful...
anonymous user
08/12/2014 21:30
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anonymous user 07/12/2014 21:21
An NQ there is billed out at £320/ph so the partnership pulls in around 7 times the salary paid to NQs!
anonymous user
11/12/2014 15:00
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No surprise the MC is losing associates at both ends. Either you switch somewhere mid-tier where life is somewhat more laid back. Or you go US where it is equally intense but at least paid more adequately.
  

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