GLASGOW MSP Nicola Sturgeon is the hot favourite to replace Scotland's First Minister Alex Salmond.

The Southside MSP, 44, is top of the list of successors, according to bookies.

Ladbrokes slashed her odds from 1/2 to 1/4 shortly after Mr Salmond stepped down and William Hill placed her at 1/3. Scottish bookmakers McBookie.com put her at 1/7 favourite to become the next leader and said it would be a "major shock" if the party chose someone else.

She said she could think of "no greater privilige than to seek to lead the party."

Ms Sturgeon, who has served with the Scottish government since 1999, paid tribute to Mr Salmond after he stepped down yesterday.

She said his achievements were "second to none", both as SNP leader and Scotland's First Minister.

She said: "The personal debt of gratitude I owe Alex is immeasurable. He has been my friend, mentor and colleague for more than 20 years.

"Quite simply, I would not have been able to do what I have in politics without his constant advice, guidance and support through all these years.

"Alex's announcement inevitably raises the question of whether I will be a candidate to succeed him as SNP leader.

"I can think of no greater privilege than to seek to lead the party I joined when I was just 16. However, that decision is not for today."

But in an interview in March with the Evening Times Ms Sturgeon admitted she had thought about being First Minister.

She said: "There's nothing wrong with being honest and I have wanted to be at the top. I would be lying if I said no. One day that might be a possibility."

She added "I don't spend a lot of time thinking about it."

Ms Sturgeon, whose husband Peter Murrell is SNP chief executive, said her priority now was to get some rest over the weekend and spend time with her family.

She said it had been "a long and hard campaign."

She added: "I also want the focus over the next few days to be on the outstanding record and achievements of the finest First Minister Scotland has had."

Other runners named by the bookies - including Glasgow MSP Humza Yousaf -were tied at 10/1.

They were Derek Mackay, Mike Russell, plus Alex Neil and John Swinney, who both ruled themselves out of contention. Justice Secretary Kenny MacAskill was listed as the 20/1 outsider.

Ms Sturgeon made her name as an SNP youth organiser after joining the party in 1986.

She attempted her first foray into politics when, acting as a solicitor for Drumchapel Law Centre in 1992, she stood as a candidate for Shettleston. State-school educated with a degree and law diploma from the University of Glasgow, she has been the Deputy First Minister since 2007 and the Depute Leader since 2004.

In 2004, she announced that she would stand as a candidate for the leadership of the SNP following the resignation of then-leader John Swinney.

However, she later stood aside to allow the return of Salmond, spending five years as Health Secretary and Deputy First Minister. In 2012 she was put in charge of overseeing the referendum.

Her mother, Joan, is SNP Provost of North Ayrshire Council, where she has been councillor for the Irvine East ward since 2007.