Are lawyers looking for a career change?
At the beginning of 2022, the Singapore Law Society announced a record number of lawyers leaving the profession during 2021. This is by no means unique to Singapore. Indeed, a study of international lawyers from February 2022 found that 54% said they were “highly likely” or “somewhat likely” to move to a new workspace by 2027. More concerning is the fact that almost half of these wanted to leave the profession altogether within this time frame.
In absolute contradiction to the above, the Law Society announced earlier this month that the number of practicing solicitors has reached an all-time high. Does this mean that the UK needn’t worry about this emerging trend? The short answer is no.
The Great Resignation has not quite hit the legal profession within the UK. However, the problem should be viewed as more akin to a storm brewing than an imminent tsunami. This is because it is not simply international lawyers who are contemplating leaving the profession, but young international lawyers. Average satisfaction for Australian lawyers was seen to be lowest with those aged 21-30 according to a 2021 study.
For the time being, there is still demand from young, hungry professionals to become lawyers. However, the concern comes when so many of those who do qualify quickly decide that the job does not meet their expectations. This exposes the industry to a potential mass exodus should retirements from an aging population overlap with resignation en masse from younger lawyers.
Burnout within the legal profession is nothing new, and it is something the Pinsent Masons Vario team have previously focused on. But why do so many young lawyers now want to leave the profession early and what can be done to keep top talent involved?
Why are many lawyers unhappy?
It is thought that as many as 37% of UK lawyers have considered leaving their job because their role has adversely affected their mental health.
Poor work-life balance is a key contributor to the above statistic. A very modest billing target of 1,400 hours per year requires 6 hours of time recorded work per day. Though this may not sound like much, it fails to account for non-billable work, and it doesn’t allow for any annual leave (or sick leave) taken by the employee.
Larger firms often have higher targets and 12 hour days have fast become the norm in many big city firms. Across the spectrum, it is estimated that most lawyers work between 1 and 10 hours overtime every week. Ultimately, this inevitably eats away at their family and social lives.