Most lawyers think about the option of in house counsel at some time(s) during their careers. So the question is how satisfied with the work are those who dispense legal advice from inside business organizations?
A recent survey by Leopard Solutions may answer that question and more. Here are the takeaways:
In-house attorneys are, overall, satisfied with their work-life balance. 76% of respondents cite being either satisfied or very satisfied.
A return to a law firm is unlikely but not impossible. 52% of respondents said they would not consider a return to a law firm, many citing the billable hour and work-life balance as key drivers. However, financial incentives may be enough for some. Similarly, the number of attorneys returning to law firms from in-house positions dropped in 2022.
Corporations should look for opportunities for career advancement. Nearly half of respondents expressed neutrality or dissatisfaction with career advancement opportunities. This area is key for retention. A lack of opportunity may be driving in-house attorneys to the door.
Overall, corporations seem to be committed to diversity. 46% of respondents (41% of diverse respondents) felt their organization had made the commitment.
Law firms need to be strategic partners to their clients. Respondents look for firms to act as a true, strategic partners to and valuable resources. Firms can do this by providing practical business advice, offering innovating solutions, and helping their clients create new business connections.
So there you have it. If you want more detail, read the survey. I wish this information had been released in time for my new book. But, alas, the book went to print earlier this week. New Lawyer Launch: The Handbook for Young Lawyers (Full Court Press, 2022) will be available for pre-order in the next few weeks. Just in time for holiday gifting. I will keep you posted!