There is no point trying to recruit an interim lawyer for an in house locum assignment – they cost a fortune
One of the most common misconceptions that companies have about hiring interim (ie short term or fixed term contract) lawyers is that they are expensive. You can go online and see the prices quoted by the various providers of interim solicitors and barristers for ad hoc ‘on demand’, in house projects or maternity leave cover. They usually start at about £125 per hour and upwards.
Why are quoted hourly rates so high for In House Interim Lawyers?
Very often it is because the hourly rates are being quoted to you by divisions of huge regional law firms, who charge hourly rates of £500 and upwards. As a result they see £125 per hour and upwards as being very reasonable!
Is there an alternative?
Yes definitely. There are interim and contract lawyers out there available to assist you at a fraction of the prices quoted by the large providers of project and interim lawyers. Providing the work is for your business, ie the lawyers will not be advising individuals or being named in litigation as acting on your behalf, hourly rates can start as low as £30 per hour. The average tends to be about £40-50 per hour.
How can this be possible?
Mainly because the larger providers online live inside the commercial bubble of the City of London and view £125 per hour and upwards as being cheap, whereas in reality it isn’t! Whilst it may well be reasonable for the provision of a solicitor working within a law firm with considerable overheads – professional indemnity insurance, staff costs, office costs, ec.. etc. – it is definitely not reasonable for the provision of services by a solicitor working remotely or on site at your offices. £125 per hour represents an annual salary of about £225,000 per annum. Most solicitors do not earn that in 2-3 years!
Yes but surely the advice will be substandard
No, not at all. The solicitors providing services at lower hourly rates are those who have recognised that in house legal departments do not expect to spend significant sums on legal advice where it is not actually necessary to do so. Even £45 per hour equates to an annual salary of £81,000 and this is about the level a good number of in house legal counsel receive themselves.
How do I get more information?
Email us at email@example.com or call 0800 246 5001.Register Vacancies