New research reveals “underappreciated” associates likely to leave law firms

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Associates are considering leaving their firm due to feeling “underappreciated”, a new survey by Thomson Reuters has found.

Of the 40 associates who took part in the research, 25% said they were “somewhat likely” or “highly likely” to move from their current firm within the next two years.

Among the reasons given for their desire to leave was feeling underappreciated and their law firm’s compensation system.

The survey then went on to ask respondents about the factors that would encourage associates to stay at their firms. In answer to this, three in 10 associates cited alternative career paths to partnership and 58% said higher compensation.

Learn more about the different types of lawyer, including associates and partners in this article.

Natalie Runyon, director of environmental, social and corporate governance content and advisory services at Thomson Reuters, said: “Management within law firms will be concerned to see that such a high proportion of associates still don’t feel appreciated in the workplace.”

She later added: “Law firms have increased salaries in the last couple of years to help them bring in and retain the brightest and best legal talent. However, this in itself may not be enough.”

Thomson Reuters conducted additional research with ‘standout lawyers’ – a group they define as the top-performing lawyers at in-house council. Nearly one-fifth said they were “somewhat likely” or “highly likely” to change jobs in the next few years. Again, the most common reason for this was due to their current or latest compensation.

In both sets of research, a better pay package was indicated as the most important change that would encourage individuals to stay at their firm.