IP Salary Survey
For some years now, intellectual property (IP) has grown in importance on the global commercial and industrial stage. The development of the IP sector, which was initially confined to English-speaking countries, has now grown significantly across Continental Europe. Growth is also being seen in the Far-East, where counterfeiting and parallel importing activities have contributed to the rise in the importance of suitably protected IP assets.
As a result, patent attorneys are in greater demand than ever, with salaries increasing accordingly – with a proviso: as IP firms still have insufficient time to train junior attorneys, the demand is greatest for the newly-qualified professionals, right up to the level just below partnership (at which point it becomes difficult to leave) – whose skills are already well developed and can be of immediate value to employers. The number of candidates passing the European Qualifying Examinations (EQEs) to become European Patent Attorneys (EPAs) has grown in recent years, especially in Germany, the UK, France and the Netherlands (in that order) – which between them account for ¾ of exam passes – but is still not sufficient to satisfy the demand. Therefore, this is an excellent choice of career.
In private practice, most attorneys are paid a salary with participation in a performance-orientated bonus scheme relating to chargeable hours, until they become partners, when they add a share in the firm’s profits to their salaries – in exchange for the worries of running a business!
In industry, salaries tend to be lower, but are only a part of the remuneration packages offered – with car allowance, health scheme, life assurance, pension, share option scheme, all usual benefits, along with ‘signing-in’ premiums in some cases. However, in the case of multinational companies, salaries are now tied up to local remuneration surveys, rather than to the expatriate conditions once offered. This is due in part to the meteoric rise in patent attorneys’ packages, which became out of step with those of their legal counterparts, thus causing some difficulties at national level.
German and UK attorneys still remain substantially better paid than their counterparts in other parts of Europe – and especially so by comparison with Australian, New Zealand and South African attorneys seeking to establish themselves in Europe and willing to compromise. There are exceptions; such as heads of departments in multinational companies – wherever they are based – whose management have to compete for talent on a world stage.
Interestingly, given the rise in research and development activities in the Far East, interest in intellectual property specialists is growing in China, India and South East Asia, thus offering further opportunities for UK/European attorneys, as the working language is generally English. Remuneration packages in the Asia-Pacific region are substantially lower, in line with cheaper cost of living conditions, but the experience of working there for a time makes it well worth considering.
If you are seeking a training contract, a salary in the £20,000 to £30,000 range is the norm, but due to intense competition to enter the profession, some well qualified graduates have had to accept a figure below £20,000. By the time you qualify, however, you can expect upwards of £55,000, with a £5,000 increase generally offered after exam success in both the CIPA Finals and the EQEs. If you make partner the rewards will be worth all the efforts you had to put in to pass those challenging examinations – six-figure-packages and well above are common.
In terms of geographical differences within the UK, where you are most likely to make a start in your career, there is no doubt that London offers a premium on salaries once you are at least part-qualified, as this is where most of the opportunities are – with many firms being after the same candidate profile raising the ante. However, if you are seeking to develop your career outside of the London area, you may have to accept a lower package in exchange for the location of your choice. In-house opportunities are, to a large extent, obtainable only outside of London, as most patent departments are located close to companies’ R&D facilities, which may be a contributory factor in the differences between private practice and ‘in-house’ salaries.
To discuss your current situation, please contact one of our experience Consultants or Researchers on 020 7337 9890.
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