This research piece originally featured in The Lawyer and was covered by the Legal Gazette, Global Legal Post and Legal Cheek.
A third of lawyers are applying for jobs outside the legal profession, according to research we carried out on job-seekers who have been qualified for less than ten years.
We analysed the job searches of 1,486 lawyer applicants on popular job sites Reed and Total Jobs. The findings underline the retention crisis facing law firms struggling to hold onto talented junior lawyers.
68% of lawyers are targeting non-legal roles and functions other than the top seven most popular roles or functions shown in the graph below. It shows that over two thirds of lawyers are finding something different, highlighting variety of options that lawyers are choosing.
Over 30% of lawyers looking to change career are targeting in-house or non-legal roles in banking, finance, insurance, construction, energy and IT, where there is a higher in-house demand and where legal decision-making is fundamental to the value of the business.
The current situation is a talent retention crisis for law firms as the industry deals with millennials, a generation of professionals who demand work-life balance and a job that is aligned to their values.