Following on from last month and the feedback from the recent Lexis Nexis report into the legal profession This month I wanted to address money!
This month: Achieving a higher salary/ better benefits package
This is a big one, perceived by many as the ultimate driver,
71% of people stated that an increased salary would keep them in a role.
69% of legal associate/ senior associate saying that they would move for a higher salary.
Having worked as a legal recruiter and head-hunter for over 15 years now I can honestly say that when people come to me asking for a new role only because they want a higher salary then it is hard to help them. Where someone’s only consideration is money it is almost impossible to find a firm that fits, or understand what culture they are looking for. Even if you just look at the biggest, highest paying firms in their location then the match is unlikely to work. Not least presenting at interview and stating that you are only looking for more money won’t wash with many interviewers!
Invariably it is more nuanced and in truth there are aspects of the role, your quality of work, your colleagues, managers, lack of appreciation or lack of positive feedback that are not sitting right with you. The focus is really why you are now looking for more money to make it worth your while.
Any role has to be ‘worth the money’ so if you feel that you are paid a pittance you are not going to give it 100%. Likewise if you are paid top end of the market, and you know it, longer hours will feel like they are the investment for that increased reward.
As is always the case it is about your own personal balance, where do you put the emphasis in terms of time and money? And don’t forget this inevitably will change over the course of a career, so keep a watch for when you feel the balance getting out of kilter for you.
As most firms have finished with promotions and pay reviews now, do get in touch if you are feeling overlooked, like your salary is not keeping up with the market or just to determine whether you are inline with the rest of your local market.
