Comparative Analysis of the 2012 and 2024 Intellectual Property Salary Surveys

Comparative Analysis of the 2012 and 2024 Intellectual Property Salary Surveys

The salary landscape within the intellectual property (IP) profession has evolved significantly over the past decade. By comparing the 2012 and 2024 salary surveys conducted by Fellows and Associates, we can gain valuable insights into these changes and understand the factors driving salary growth and shifts within the industry.

Salary Growth Over Time

In 2012, the average salaries for various technical specialisms within the IP profession were comparatively modest. For instance, professionals in biotechnology earned an average salary of £77,000, while those in electronics/physics earned £73,000. These figures were primarily for professionals with 2-3 years of post-qualification experience (PQE). In contrast, the 2024 survey shows a notable increase in these figures. Biotechnology professionals now earn an average base package of £103,000, whilst those in electronics £95,000 for the same experience level. This substantial growth reflects broader economic trends and the increasing value placed on IP expertise.

Regional Disparities

The regional distribution of salaries has also seen changes. In 2012, there was a clear distinction between salaries in London and other regions, with London-based professionals typically earning more. By 2024, whilst London remains a high-paying region potentially due to factors such as a higher cost of living, other regions have seen more significant salary growth, reducing the disparity. The average base package in the UK outside of London has increased to £89,000 for professionals with 4-5 years’ PQE, compared to £101,000 within London with the same experience level. This trend suggests a decentralisation of high-paying roles, possibly driven by increased remote working opportunities and regional development policies. In our experience working in the regions does not diminish your career prospects, which these figures reflect to a degree. A lower cost of living, access to the same clients, and sometimes increased responsibility and independence from early on, coupled with less competition for roles, all play in the region’s favour.

Variations in Technical Specialism

Technical specialisms have consistently influenced salary levels. In 2012, trademark attorneys with 2-3 years of post-qualification experience (PQE) were at the lower end of the salary spectrum, earning an average of £59,000. This trend continues in 2024, although the salaries have significantly improved to £85,000. However, the growth rate in more technical fields such as biotechnology and electronics suggests a higher demand and greater appreciation for these skills in the modern market.

Gender Pay Gap

The gender pay gap was a significant concern in 2012, with male attorneys with 3-5 years of post-qualification experience (PQE) earning approximately 14% more than their female counterparts. The 2024 survey indicates some progress, but disparities remain. Female respondents report an average base package of £80,000 compared to £95,000 for male respondents. While the gap has narrowed, ongoing efforts are required to achieve true pay equity in the profession.

Employment Type Influence

Employment type has historically impacted earnings, with industry roles typically offering higher salaries than private practice for less experienced attorneys in 2012. By 2024, this trend persists, but the gap has narrowed. The average salary for 6-10 years’ PQE industry-based professionals is now £105,000 compared to £97,000 in private practice. This suggests that private practices are becoming more competitive in their compensation packages, likely in response to talent acquisition challenges. It is also worth noting that as experience levels increase and attorneys can join a firm’s Partnership, the earning potential in private practice does surpass that in industry. However, the differing workload and responsibilities on offer can be more persuasive for some than a generous pay packet.

Career Progression and Qualification

Career progression remains a critical factor in salary determination. In 2012, recently qualified attorneys earned significantly less compared to their more experienced counterparts. This pattern continues in 2024 but with higher overall salary levels. For instance, newly qualified attorneys now earn an average base package of £71,000, compared to £55,000 in 2012. This highlights the increasing value of early career IP professionals in the current market.

Conclusion

The comparison between the 2012 and 2024 salary surveys reveals significant growth and changes in the IP profession’s compensation landscape. While overall salaries have increased substantially, regional disparities and gender pay gaps persist, albeit with some improvements. Technical specialism continues to play a crucial role in salary determination, with a notable increase in the value of biotechnology and electronics expertise. Employment type also influences earnings, with private practices becoming more competitive. As the IP profession continues to evolve, ongoing monitoring and analysis will be essential to ensure equitable and competitive compensation across all regions and demographics.

The latest Fellows and Associates Salary Survey 2024 is available to read here. If you would like to make your own comparisons of past surveys, they can all be found here.

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