Origin Legal

Introduction

Show me the Money!

Show me the Money!

Show me the Money!

As specialists in international legal recruitment over many years, we have long maintained that money alone should not be the sole reason for making a cross-border move.  We regularly produce articles on the professional and lifestyle advantages of working overseas but this time…it’s unashamedly, all about the cash!

We raise this most basic of motivators for the simple reason that the post-Brexit slump in Sterling has made foreign earnings more attractive than they have been in many years.  Take a look at the table below:

Jurisdiction

Salary (3 pqe)1

Sterling Value2

Tax-rate

London

£85,000

£85,000

Up to 40%

Cayman Islands

USD 145,000

£118,000

Zero

British Virgin Islands

USD 135,000

£110,000

Up to 8%

United Arab Emirates

AED 500,000

£111,000

Zero

Singapore

SGD 200,000

£118,000

Up to 17%3

Hong Kong

HKD 1,092,000

£115,000

Up to 17%3

 

(1) Average salary for 3 years’ pqe lawyer in UK/City equivalent firm

(2) Rates according to xe.com as of 1st November 2016

(3) Progressive tax system climbing to 17% in HK and up to 20% in Singapore

Of course, these are not inexpensive places to live, but the comparison between your net income in London and your net income in any of these jurisdictions shows a stark contrast that no cost of living survey will eliminate.  For example, a UK-based lawyer on standard tax code will need to earn almost £210,000 to net the £118,000 that you can earn at three years’ pqe in Cayman.  A sobering thought for your average Junior Partner in the City to ponder.

As many London-based lawyers struggle to pay a mortgage or even fund a deposit on a home in the city, the attraction of sending home Dollars or Dirhams that are worth many more Pounds than they were in May is clear.  Save 20% of your tax-free or low-tax salary and you can bank well over £20,000 in a year while benefitting from a life-changing professional and personal experience.

So once again, an international move shouldn’t be all about the money...but it doesn’t hurt does it?

To discuss international opportunities please contact Jason Horobin at [email protected] or on +44 (0)1206 233 514.

Meet our new consultant Alex

By Taylor Day | July 22, 2021 | 0 Comments
Meet our new consultant Alex We have some exciting news here at Origin Legal! A new consultant has recently joint the team, meet Alex Fielding. Alex, joined the team at Origin Legal during the Covid pandemic to help meet the…

Interview with EMW

By Jason Nottage | June 16, 2021 | 0 Comments
Interview with Joy Vollans, Chief Executive Officer at EMW Last week we sat down with Joy Vollans Chief Executive Officer of EMW. EMW is a leading law firm with offices in Milton Keynes, London and Gatwick. As CEO, Joy takes…

Planning Lawyer Jobs Market 2021

By Stuart Phillips | June 14, 2021 | 0 Comments
Planning Law recruitment update I have set out my latest update on the current trends in the recruitment market but before I go into this, I must acknowledge the extremely sad news regarding Stephen Ashworth.  Although tributes have been paid…

How to ace your CV and Coverletter

By Taylor Day | March 19, 2021 | 0 Comments
How to ace your CV and Cover letter Acing your CV and cover letter is one of the most important parts of the recruitment process, they are how you make your first impression to your potential future boss. We thought…

The time is right, plan your next move.

By Taylor Day | March 1, 2021 | 0 Comments
The time is right, plan your next move. So here we are a year into the Covid 19 pandemic. If we had known at the start that we would have to endure such challenging restrictions and trading turbulence for over…

0 comments on “Show me the Money!

Leave a Reply

Your email address will not be published. Required fields are marked *