Guernsey - Testimonial
An 8 year qualified Funds lawyer working for a leading Guernsey law firm
If you are a lawyer used to working on large banking, corporate or fund transactions then the work in Guernsey will be very familiar to you. Guernsey law firms are generally instructed by UK law firms, typically based in London and the other UK financial centres but will also have a spread of work coming from the local finance sector. The mix of instructions tends to be about 70:30 - UK law firms: local. Increasingly, Guernsey is attracting work from the emerging markets directly - both from an investment fund and capital markets / corporate side. This broadens the traditional way that the offshore markets operate.
As a result, working in Guernsey involves working with the best quality lawyers both as clients and as your colleagues. If you want great quality of work in a slightly more relaxed and friendly environment then Guernsey is a great place to work and live. You will tend to be involved in similar types of transactions as you may have been when working 'onshore' albeit that you will be working on a smaller part of a transaction and focused on Guernsey aspects. The clients will tend to be very similar to those clients with whom you have been working for in your job in London.
If you want to be doing this sort of work and still be able to go playing touch rugby, sailing or cricket in the evening then Guernsey is the place for you. The cost of living tends to be comparable to London although not as high as other offshore centres and paying 20% tax is a big help. Salaries are comparable to London salaries particularly once you have got over the 3 year PQE level.
Bars and restaurants are exceptionally good in Guernsey due to the high standard of living with a great French emphasis meaning that your moules mariniéres tend to be that bit fresher than anywhere in the UK! Being close to the UK allows you to visit friends and relatives there easily and keep in touch with the city lifestyle. It will also mean that your friends will want to visit pretty frequently. Proximity to Europe allows great travel opportunities.
There are very few people who want to leave Guernsey once they have made the move. It tends to suit those people who are outgoing, love their sport and outdoor lifestyle who want great quality of work in a challenging environment. What they want to leave behind tends to include the long commute, the tube and the hours and lifestyle that are necessarily involved in these types of transactions when sitting right in the middle of a deal onshore.