One legal consultant is saying firms should consider pay raises or risk losing lawyers. Oksana Bratanova
Mr Eckardt told Lawyers Weekly that big firm lawyers are expecting a 15 to 20 per cent salary increase, but in reality, most partners and HR professionals are only planning pay raises of about two to four per cent. He advises firms to take his advice in order to retain their lawyers, but is skeptical that firms will take his advice. His findings are based off of a national survey conducted by Robert Walters, which interviewd about 1,200 legal hiring managers on their recruitment strategies for the next six months.
The survey found that about 45 percent expect to increase wages in the next six months and 50 percent expect salaries to remain the same or to decrease. It also found that 20 per cent of legal hiring managers are more likely to hire in the next six months compared to the last six months, with mid-level legal professionals being the most sought-after candidates.
Source: Lawyers Weekly