Lifestyle creep
In our latest career conundrum submission, a young lawyer wants to quit but is struggling to walk away from such a well-paid job.
“Hello Legal Cheek. My career conundrum hasn’t come up yet, which surprises me a bit. I’m approaching 2PQE at a London law firm where the salaries are towards the top end of the market. I have enjoyed some bits of the job so far and (most of) my colleagues, but I’m starting to think corporate law just isn’t for me. Even setting aside the long, stressful hours, I don’t find the work stimulating or rewarding.”
That said, it obviously pays very well and lets me live a certain lifestyle in London that I’ve gotten used to. So ideally I’d like to hear from people who’ve been in a similar position. What did they weigh up before deciding to stay or leave, and do you feel better for the choice you made? I’d also be interested to know if they chose to leave, how they found the financial adjustment? Thanks, R.”
If you have a career conundrum, email us at tips@legalcheek.com.
I’m so sorry you are experiencing this. I am in the same position too, 1.5pqe at a top London firm and considering my options. Good news is that I think a lot of the skills are transferable but it is difficult to think of what to do next.
I hate to break it to you – but the skills aren’t transferable (10yr PQE corporate lawyer here) – that’s something your law lecturer says in first year to let you know that even if you’re not sure about the chosen degree and career now, it doesn’t matter because you can change later. There is nothing that being in law teaches you that is so transferable above any other skill in any other profession. No other job cares if you can spot a double spacing and a cross-reference error in a 100-page SPA or that you know the difference between representations, warranties and indemnities. The longer you stay in it, the less chance you’ll leave.
I mean if you’re interested insurance work, those skills are definitely transferable.
News to me! I’d have thought research skills, being analytical/ability to read and understand complex fact patterns, long hours/resilience, ability to communicate complex issues concisely, working in teams… were transferrable and sought after in other professions. Perhaps it’s just 10 pqe corporate associates on legal cheek which lack transferrable skills?
You could always try in-house?
It doesn’t get better, but the money does.
Better to get out now before the golden handcuffs are truly slapped on. If anyone has any ideas for an alternative viable career which offers similar cash then I’m all ears.
Is this a life you want at 50 or even 40? Would you advise your kids/loved ones to do this?
Money is great but not at the complete cost of your life. Plan your exit, make a financial plan to exit (pensions will accrue over time) and get your life back. If you’re used to a certain lifestyle, now is perhaps the time to manage that and think about it, before, truly, there is no exit and you resent the life you made for yourself.
Get out while you can. If you are unhappy now then this will compound – the money will not increase that much (think tax and inflation) unless you make partner but the stress and responsibility will as you progress through the ranks (and few people make partner anyway).
The usual route is to transition into i) either a smaller law firm or in house or ii) a side hustle you have built up alongside the day job (coaching or some other business). If the latter make sure you have 6 months’ worth of living costs. If the former then reduce your baseline living costs as your pay will go down by at least 1/3. It may be painful but you will still be earning much more than most and you will benefit by getting a wider skillset as well (Biglaw trains people to be super niche) which can then be the springboard into a different career in professional services/business.
The biggest mistake is people thinking BigLaw skills translate well into other fields. They don’t.
It’s what I did fyi.
I completely understand, I am in the same boat working for an American law firm. Money is the only thing that keeps me going. I don’t plan on doing this for longer than I need to. For now, I am working to get on the property ladder and better my life, as somebody who got into this from a poor background. I still need to figure out an exit plan. No, lawyers absolutely do NOT have transferrable skills, they’re actually the most inflexible and stuck in their ways workers, they cannot see different angles to an issue other than their own view which they will fight people over about. If you go in-house, your salary will halve probably so only make the jump once you have enough savings. The reality in the UK is that you either have money but no life/time, or have life/time but no money. I am not ruling out moving countries tbh
Law is cool. What a great profession
Are big law partners truly happy?
That’s not rhetorical.
I’m offshore, which I see as big law’s strange sibling they keep locked in the attic.
Big salaries, but I’m not convinced the partners are living their best lives.
They all seem woefully resigned to a life of unbounded servitude.
They seem surprised that their kids are so maladjusted, despite all the money they throw at them.
I am told that partnership is increasingly unrewarding, with inflation, increased overheads, increased regulation etc.
It depresses me how quickly my partners respond to emails when they are on leave.
I’m 3yrs pqe and on my way out.
I disagree that there are no transferable skills from law but agree that its door-opening abilities have been vastly overexaggerated. I have been most surprised by the inability to move within law (I am a jack-of-all-trades litigator).
I had an interview with a regulator yesterday. One of the panel was a lawyer. As I gave examples for the competency questions, a knowing smile would creep across the lawyer’s face before she relayed her own experience. The rest of the panel expressed shock.
Now I just need to remind my parents (yet again) why I would ever want to leave this most prestigious of professions.
I’ve said it before and I’ll say it again. The key job to revert to if you want a balance of good pay, job satisfaction , meeting interesting and diverse people, a job that keeps you active and also if you’re that way inclined, opens up an amazing dating scene, is to become a hairdresser. You’ll survive the AI apocalypse and make lots of money especially if you open your own salon. For me it was a life changer and I now have friends who can shave my head for free.f
I left a Legal 500 Corporate firm for a small high street practice and it was the best decision I have made. Yes the money isn’t as good but you will still be comfortable and have a work/life balance which no amount of money can make up for in my opinion. I’d rather spend time with my family and clock off at 17:00 than be working late into the evening/early morning.
I wouldn’t leave law straight away if its the only firm or style of firm you’ve ever worked at there are plenty of different firm models rather than Big City Law.
Maybe have a look at moving disciplines as well, I moved from Crime to Corporate Employment Law then to Private Client Law and again no regrets and I enjoy this area of law far more.
How much do you make in a year blud ? liek £40k lmao ?
Have you tried moving firms? I nearly quit at 5 PQE because I was miserable, but I gave it one more go in case it was the environment and I am still in corporate law 3 years later. Every firm is different. It may be a paycut to go to a more reasonable-hours firm but it was the right choice for me!