In the legal world, it is that time of year again. The surveys have been done, the internal meetings had and salary bandings revised and the question of salary is once again a hot topic (whenever is it not).
Not unsurprisingly in Legal Recruitment, the issue of salary remains at the forefront of legal job seekers and it is our job to stay on top of who is paying what. The Lawyer plays a fantastic role in its broader surveys as do our own enquiries which is hugely benefitted from the national profile and scope of our business both in private practice and in-house.
London still provides the most dynamic of salary bandings across all levels where it is possible to see a difference of £75,000 between NQ roles at a small practice and those working for US firms. London however also has a huge property driver that continues to place great strain on its young (and old) workforce whereby the bottom line take home is crucial. I recently read that the average house price is set to hit £1million! As such the mighty dollar is fairly prevalent in legal job seekers’ minds.
The resurgence in real estate and corporate is creating significant opportunities for lawyers to increase their pay packets with a move to a larger (sometimes US) firm.
As a former lawyer and fairly experienced legal recruiter, I am always keen to impart a sense of caution that centres around motivation purely for the sake of money. An increase in pay is always welcomed, no doubt, however it is often not the sole reason for someone looking to move and other frustrations accompany money woes. If the money is not quite right but the team, the work and the feeling of belonging does, most often this wins out and provide, overall, for a positive working environment. Where those other aspects are missing the question of money becomes even more heightened and starts to dominate the narrative. I get that. I do. However our job is to find out all of the things that you want from your next legal job, not just money so that we can go out there and find as many of the things that you need as possible. Our aim is to find a long term position for you and ultimately a move for money and only that is rarely foundation for longevity.
In legal recruitment success comes from successful and open relationships and people engaging with you as an individual and understanding what you, as a candidate (and client), needs and wants. It all sounds very touchy feely and the truth is it is. Work and life go hand in hand so it is important to be open and engage with us on all fronts so we can do our best for you. It takes investment from all and it is one you will be thankful for.
By all means chase the money – we can help you do that but our aim is to do much more so that the collectively offering of any new legal role is, in the words of Mastercard, priceless.