What Is The Salary For Consultant Solicitors?

If there is one universal truth about human nature, it’s that we all want to earn more money whilst at the same time working fewer hours. Even if you love what you do, it is nice to know that you have the choice to work more if you want to, but it is not a requirement to keep the lights on. Consultancy, via a New Model Law Firm (NMLF), provides a structure to control your hours and ensure your work fits around your life (rather than the other way around). But does it pay the same as a partnership? The average salary for a solicitor is £60,000, with a typical range of £55,000-£85,000. But you can go higher than this, depending on the area of law you specialise in, the type of cases you take on, and how you strategically take advantage of the benefits offered by an NMLF.

How does working in a New Model Law Firm increase my earning potential?

One of the biggest advantages of joining an NMLF, as opposed to the traditional method of increasing your earnings as a solicitor, namely becoming an equity partner in a traditional law firm, is that you don’t have to manage a business and employees. No partners’ meetings, training and mentoring of junior staff or having to reserve precious head space to think about five-year strategies, marketing plans, and how to deal with ever-increasing PII costs.

Other benefits include:

• You do not have to apply for SRA approval – the New Model Law Firm will be fully registered.
• No staff to manage – this is done by the New Model Law Firm management team.
• Little or no capital expenditure – depending on the New Model Law Firm, all you may need to start consulting is a laptop and a mobile phone. A case management system, legal library, marketing, and administrative costs/support all come as part of the package.

In essence, becoming a consultant at an NMLF means you get to focus on your craft, i.e. being a lawyer. Because all the administration, staffing, marketing, PII, and SRA compliance is taken care of, you can focus all your attention on your clients and your income and create a work-life balance that suits you and your family. It must be emphasised how important this can be, not only to your well-being and income but also to your sense of professional accomplishment and the ability to meet your goals. 

How much could I earn as a consultant at Nexa Law?

At Nexa Law, the sky’s the limit when it comes to earning potential because no cap is applied. Let’s take an example – if you billed 80 hours per month (960 per year) at £250 p/h, you would bill £240,000. Of that, you get to retain a gross billing figure of £188,792.50.

In another example, let’s say you wanted to work part-time, billing 40 hours per month at £150 p/h. This would bring in £96,000, of which you would keep £72,000 gross.

Remember, unlike a traditional law firm, every hour you work, you can earn money because you are free from any administrative, marketing, and management responsibilities.

Making the change

If you have read this far, you may be wondering if it all sounds too good to be true. After all, there has to be a catch, right? Actually, there really isn’t. And we’re not saying it will always be easy. For example, we can provide marketing support, but it is up to you to provide the level of client care and service to ensure you retain good clients and get referrals. Also, we can provide a supportive environment and a community of colleagues to bounce ideas off, however, as a self-employed consultant, you need to fire your own jets when it comes to motivating yourself.

That being said, most people who transition into legal consultancy love the independence, freedom, and earning potential that comes with self-employment. The ability to choose how and when you work and the level of personal service you can provide to your clients gives you the ability to work with intention and create the lifestyle you and your family crave.

How Nexa Law can help you launch your own legal practice without prohibitive costs and stress

Unlike many other New Model Law Firms, Nexa eliminates all start-up costs. There are no hidden fees or financial burdens. All you need to begin is a compatible notebook PC, mobile device, printer, and basic stationery. In addition, we do not charge any excess on PI claims.

Joining Nexa Law allows you to transition seamlessly into the world of consultancy.

If you’re thinking of launching your own legal practice in 2025, please give us a call. We would love to hear about your commercial ambitions and tell you how we can support them. 

Schedule a call or fill in our contact form.

We look forward to celebrating your success.