The power of Linkedin delivered this fascinating report into salaries for lawyers – which I believe makes interesting reading – whether you are a lawyer or not. The organisation surveyed over 500 lawyers in a range of firms, in both the UK and Australia, and includes details on benefits too so you can do a better comparison.
We often think the grass is greener – and the other day I was with a relatively small firm in the West End of London and were discussing the firm’s need to recruit a relatively experienced lawyer – probably with 3 – 5 years experience. They wanted someone who would arrive with a clear idea of how to develop business, be commercially minded and so drive revenue up. The trouble is, that the for the salary they were prepared to pay, and the approach they were taking – they were costing themselves nearly the same amount all over again. Salary £35 – 40k, advertising, and partner time another £10 – 15k, and still no ideal candidate.
Using surveys and attending interesting conferences: I will be delivering the Key Note at Ark’s Remuneration Conference on Wednesday 6th April (and I hope some of you will be there) is about how to ensure you have the right people with the right skills in the right place - contributing to the firm in the right manner. Balancing all the pressures, demands and needs firms have today is a huge challenge. So doing this with information has to be better than taking an educated guess!
For more information on how to develop reward mechanisms that will deliver that sustainable future, how to build in Portfolio Careers for your senior staff and Partners – so that they can continue to contribute well into their late 60s – do call. We now have a suite of solutions that will match your needs – and provide a strong future for your partners, Members, and Directors and all your staff.