The battle for talent at the top end of the legal profession continues to make headlines. Telephone number salaries offered by big law firms certainly make for good copy — and good clickbait.
But this is not the only trend in the legal market that ultimately determines whether talented young associates and senior associates decide to stay on and go for partnership track positions at elite law firms. In addition to pay, there is the burning issue of work-life balance.
For a growing number of associates, the option of going in-house becomes ever more attractive over time.
At the most junior end, cash is certainly king. Last month, the latest spikes in the U.K. recruitment market saw two big U.S. West Coast firms raise their newly qualified lawyer offering to £180,000 ($229,000) per year in London.