While by most indicators the number of legal jobs advertised is rising – currently, for example, legaljobscentre is showing over 1,000 ads – candidates still need to have realistic salary expectations.
“Employers are working to retain their current staff, which means salaries for new hires will be relatively modest and in line with existing staff salaries,” said Hays Legal director, Darren Buchanan. In the current market, a 3-5% increase on current salary is a realistic expectation for lawyers looking to change roles. In some instances lawyers have received counter-offers of up to 40% of their current salaries, but these are the exceptions rather than the norm.
To keep things in perspective, he advises job seekers to work out their current market value. “It’s important to be realistic, so you don’t price yourself out of contention with over-inflated salary expectations,” he said. Referring to market salary figures is a good reference point for negotiating pay.
Yet according to one lawyer at a specialist firm, even pulling out market salary figures might not always be the best way for candidates to negotiate. “[Lawyers] should not push salary figures unless they are sure they have the job in the bag. It’s hard to tell in these sorts of situations. Sometimes the reaction is more ego than on your actual skills or experience,” the lawyer said. “[It’s important] with all things pay-related to think it through.”
Tips to working out how much you are worth
- Make a self-assessment of skills and experience according to years of practice
- Research market salary guides
- Find out how your target firm/company uses salary banding
- Consult with peers or lawyers already practising in the area
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