JACKSONVILLE, Fla., Nov. 1, 2016 /PRNewswire/ -- Special Counsel, the nation's leading full-service provider of legal staffing and eDiscovery solutions, today announced the release of its 2017 Salary Guide. The up-to-date salary data combined with detailed job descriptions and industry insights arm employers with the information needed to attract, hire and retain talent.
With the economy being the strongest it's been in years, more legal firms are now competing for a dwindling pool of skilled talent. Associate salary increases of $20,000 or more to first-year associates' base salaries and comparable increases for longer tenured attorneys are triggering a chain reaction throughout the industry. Dozens of top firms have taken action to match the industry pay scale, while others are holding salaries where they are or avoiding raises with one-time bonuses and other incentives.
"The legal industry finds itself in a period of dynamic change, which is creating new opportunities within corporate legal departments and law firms alike. As a result, finding the right candidate, with the right experience, will continue to be a challenge, as the demand for skilled applicants increases," said Laurie Chamberlin, president of Special Counsel. "Our 2017 Salary Guide is a resource to help employers offer competitive opportunities, that will not only engage strong candidates, but retain the top performers who help their organizations thrive."
This 2017 Salary Guide revealed key industry insights that employers should keep in mind as they prepare for the year to come:
- Higher Biglaw associate pay will ripple through the industry in 2017, and should help Biglaw shore up retention rates, but will also encourage fee discussions in an effort to share the burden of increased salaries with clients.
- Real estate and corporate law account for 29 percent of the legal services market and continue to show positive growth.
- Pressure on law school performance is catapulting a conversation of accreditation, with the ABA considering a proposal that would tie law school accreditation to a 75 percent bar passage rate within two years of graduation, certainly impacting the supply of new lawyers.
- The U.S. legal industry will continue to lead the way in eDiscovery adoption, accounting for approximately 63 percent of all investment, speaking to a larger trend that technology is a key component of universally every industry, including legal.
- International presence is more important than ever, with Cuba being an expansion example as relations with the U.S. continue to thaw, challenging legal representatives to adapt quickly to the rules of trade and conduct between the two nations.
The guide is based on national averages compiled through a partnership with CareerBliss, a career community that has millions of salary reports from real employees that are aggregated and formatted to be helpful to employers and employees alike.
Special Counsel Salary Guide Methodology:
The figures in Special Counsel's 2017 Salary Guide are based on national averages compiled through our partnership with CareerBliss, a career community dedicated to helping people find happiness in the workplace and in life. CareerBliss has millions of salary reports from real employees that are aggregated and formatted to be helpful to employers and employees alike. To further validate the data, each office in the Special Counsel nationwide branch network thoroughly reviewed the data. Based on that review, the figures were revised to ensure local accuracy. This comprehensive approach results in more regionally accurate data than the public data that is found in other salary guides.
About Special Counsel
Established in 1987, Special Counsel is the nation's largest full-service provider of legal staffing and eDiscovery solutions. Our reputation, size and scale combined with local market knowledge give us the distinct advantage in recruiting and retaining skilled legal talent available on a short- or long-term basis. Together with D4, our expertise extends to offering a comprehensive suite of eDiscovery and managed solutions. For more information, visit www.specialcounsel.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/special-counsel-releases-legal-salary-guide-300354873.html
SOURCE Special Counsel