Author:
26 Feb 2007 | 16:13 | 9 comments
"I am a junior associate at a US law firm. Through contacts at other law firms (senior associates I have worked with in the past) I am currently holding job offers from two other firms.
"I am happy at my current firm, but both job offers come with a pay-rise (and an equal, if not greater, quality of work). To be frank, I know that when associates threaten to leave, they can be in a position to negotiate their salary at their current firm.
"How does one go about doing this? Should I go to the partner and say "I'm leaving unless I get a payrise"? I want to minimise my chances of actually having to leave."
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COMMENTS (TOTAL 9 COMMENTS)
You need to work out who the decision-maker is and approach them discretely and tactfully. Many firms limit the ability of partners to deviate from standard pay scales, especially at the junior end, but often there is more flexibility than there appears and people are increasingly willing to use it.In any event, varying salaries can be very devisive and so partners will be reluctant to make a change unless they have confidence that you will be discrete. You can also bet on the fact that they will react very badly indeed to any suggestion that you are blackmailing them as a result of the other offers you have (and may see the offers as an indication that you do not see your long-term career with the firm).You are in a strong position anyway, so there is no need to overplay your hand. Simply make them aware that lawyers at your level are earning more and ask to be paid at a similar level, giving them the figure you think is market.If they say no or offer less then you will just have to make your mind up where your future lies, but arguing is not going to be career-enhancing and in the long run partnership prospects are better than a few quid more in the bank.
Anonymous -26 Feb 2007 | 16:53
When I left for investment banking on qualification, the law firm I worked for made a miserable attempt to keep hold of me. I was given subsidised housing, a pay-rise (relative to other NQs), bonus and gym membership. I'm pretty sure if I never indicated I was leaving for something else, whether it be another law firm or a bank, they would just offer me the standard 55k, which is pathetic pay.My advice is threaten to leave in an intelligent way i.e. tell the partners you are due to hand in your resignation letter in the next half-hour and you'll be amazed how quickly your law firm can draw up a revised pay package.Good luck. Money makes the world go round.
Ex-lawyer -27 Feb 2007 | 09:21
All the surveys show that individuals that hand in their notice and are "bought back" by their existing firm normally leave anyway within two years. This is because: (1) the individuals have shown their disloyalty and are therefore never seen in quite the same light again; and (2) the other fundamental issues regarding your leaving don't change.If you were worth more money to your current firm they would already be paying that amount to you - no sensible business would allow you to blackmail them and, if they do, they will always hate you for putting them in that position.
Headhunter -27 Feb 2007 | 10:53
If you're happy in your job, stay where you are. £55k may a "pathetic" salary in City terms but not compared with others in the profession - NQs in the legal aid sector can expect about 18k to 24k. That's pathetic.
Ex-City lawyer -27 Feb 2007 | 17:07
Don't give them an ultimatum - it just creates bad blood. When you have your appraisal, make sure you've covered all of your good points and make it clear you want to remain and progress your career at the firm, but if your pay remains at its present level, you will be unable to stay. You get a clear answer as to whether they want you or not and can make an easy decision to go or not.
Associate, US Firm -27 Feb 2007 | 17:32
Whilst legal aid law is, undoubtedly, undervalued, 55k is crap for the stress of a US firm in the City. I thought junior associates were low on ambition nowadays and just went for the most money on offer. Or maybe that was just me.
Associate, US firm -27 Feb 2007 | 18:51
I am surprised to see 'Headhunter' saying: "If you were worth more money to your current firm they would already be paying that amount to you."Having previously been a partner in an international law firm, I saw at first-hand people were not routinely paid what they were worth. Short-sighted, I know, but true.In my experience, the loudest shouters got more and were rarely adversely judged for shouting loud. I think the days of "collegiate" law firms are long-gone. Your immediate line management and the team around you may care about you, but your law firm regards you as a commodity.Your best solution is therefore to use this difference to your advantage: share your concerns with your line manager. They should then take your case up. If they do, then you are unlikely to suffer. If they do not, then you have all the feedback you need to make the decision to leave.
Sole practitioner -28 Feb 2007 | 11:51
Don't threaten to leave. Explain your dilemma to the partner you work for in more or less the way you have here: that you love your current job but have had an unsolicited offer from a former mentor of higher pay elsewhere. Then ask what they'd advise you to do. How they respond will tell you everything you need to know. Even the most traditional firms are surprisingly flexible for the right people.
Former senior associate, magic circle -01 Mar 2007 | 10:28
There is a third issue. The other firms may offer better work and more money, but what about the atmosphere?In my opinion, extra money is not worth moving to a job you are not happy in. I would be honest and explain to the relevant senior person that you dont feel you are quite paid market rates. I wouldn't use the other job offers as a veiled threat.
Associate, US law firm -02 Mar 2007 | 16:44
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