Approaching five years' PQE? It’s time for a career spot-check

Lawyers approaching the five year post-qualification mark tend to use this milestone as a time to take stock of their careers. It is a good moment to assess whether you are truly happy with your current role and direction, and if it is likely to deliver on your ambitions over the next five years.

We are not necessarily talking about lawyers who are unhappy in their current roles; instead, it’s about assessing where you want to be professionally in the coming years. In fact, many of the lawyers we to here at Michael Page Legal speak to conclude that their current role and firm can satisfy their mid-term goals.

So what about you? Have you had a look at your career progression and ambitions as you edge towards that five years’ PQE mark?

The starting point is to work out what is important to you now and what will be important to you in the long term. We often find that the biggest considerations for lawyers at this stage centre on one of the following:

1. Money 
2. Progression 
3. Work-life balance and flexibility
4. Private practice vs In-house

Let’s examine each of these areas so that you can give your own career a mini spot-check.

1. Money: Am I being paid enough?

There have been significant uplifts to many junior and mid-level solicitor salaries since the pandemic. In the regions, newly-qualified salaries have risen to as much as £65,000, meaning that some more experienced lawyers have found themselves being paid less than their more junior counterparts in other firms.

Money has therefore become a key driver for solicitors at the two to five years' PQE mark looking to move jobs. Michael Page Legal has produced a comprehensive salary guide for both private practice and in-house solicitors - for the latest benchmarking, access your free copy today:

2023 Legal Salary Guide

2. Progression prospects: Climbing the ladder

When it comes to your progression aspirations, the first question to ask yourself is “Do I want to be a partner in a law firm” – yes or no?

If the answer is “No”…

If you’re starting to feel that the answer to this question might be “no”, then don’t worry – you are not alone. A growing number of lawyers are not attracted by the idea of partnership and the responsibility that comes with it.

That doesn’t mean you are not ambitious; but maybe your ambitions have changed over time. If you’re more motivated by quality of work than responsibility and management, is your current firm allowing you to focus enough on the fee earning, client-facing side of your role? 

If the answer is “Yes”…

Others remain focused on reaching the partner milestone. If you fall into this category there are two further questions you need to ask at this stage in your career:

Am I realistically going to reach partner at my firm in the next five years?

If you aren’t sure about this, and think a move could be on the cards sooner or later, it’s worth considering when the right moment might be. 

If you make a lateral move later in your career, firms will expect more from you. You’ll be a more senior, more expensive hire, and will have to expect elevated scrutiny around the strength of your network and client following. A lateral move later on in your career will also require you to re-establish yourself internally and this can take time.

That is why the four to five years' PQE mark can been seen as the perfect time to take the plunge, as it gives you ample time to establish yourself on both fronts. Plus, at the four to five years' PQE mark, employers base recruitment decisions more on expertise and ability, and less on external network. Of course, showing an appetite for business development is a plus. 

Equally, at this time in your career, firms will still see you as fairly malleable, and if you are looking to make the step up into a larger firm, it is not too late. It may become trickier to do so the longer your career progresses.

And the even bolder question: Do I want to be a partner at this firm?

If you’re having doubts about whether your current firm is right for the long term, it’s definitely time to take stock! 

Perhaps you’ve seen some of the frustrations and red tape the partners at your firm face. In this case, a move to a smaller firm may work. Some may see this as a risk, but being part of a smaller team can expedite your path to partnership. You’re also likely to get a lot more autonomy, allowing you to develop your own brand and client base.

Submit your CV today

3. Work-life balance and flexibility 

After hitting five years’ PQE, many lawyers find that their priorities have changed. What seemed like a great lifestyle and career path as a junior solicitor might not seem so attractive any more. Working at the very best firm and acting for the very best clients often comes with a compromise: your own free time.

Desire for a better work-life balance is one of the biggest reasons lawyers register with Michael Page Legal. This has become an even more prominent motivator with the emergence of home and hybrid working. During the post-pandemic rebound, demand for legal services rose sharply - but with quality talent in short supply, talented junior lawyers have been under immense pressure, often working long hours and weekends. Some might say that this is part and parcel of being a lawyer, but many others have realised that it doesn’t have to be the norm.

We’ve helped numerous lawyers change roles before the five years' PQE mark, moving to firms with a genuine focus on flexibility and policies like part-time hours, remote working, and job sharing. It’s not an urban myth – these firms really do exist! Many lawyers have found it refreshing to be able to maintain the quality of their work, and have actually enjoyed a lot more client exposure.

Lots of teams remain bereft of quality mid-level lawyers. We are seeing numerous regional and national players snap up talent from larger firms by allowing more flexible working. 

4. Private practice vs In-house

Lawyers often see ‘in-house’ as the perfect escape from the headaches and hazards of private practice. After all, doesn’t life as an in-house solicitor allow you a better work-life balance and the chance to move to move away from a KPI-driven and chargeable-hours culture? 

It really depends on the organisation and role. We’ve certainly seen a lot of private practice lawyers move to in-house roles and never look back. They feel valued, and closer to the commercial rationale of the legal advice they are giving.

Equally, we speak to in-house lawyers who have longer (and at times more stressful) working days than they did in private practice. Think carefully about what is motivating your desire to move in-house and whether you have found the right role for you.

It is certainly on option worth considering as you approach five years’ PQE. Employers tend to prefer candidates with previous in-house experience for more senior in-house roles, whereas lower level roles can often be more flexible, allowing a lawyer to make that first jump from practice to in-house.

Whatever you decide to do at this stage, you have a wide array of options in front of you and are in a great position to make choices about the mid and long-term trajectory of your career.

For a confidential discussion about career opportunities, contact Conor Farrell, Manager at Michael Page Legal.

Conor Farrell, Manager, Michael Page Legal

E: conorfarrell@michaelpage.com

T: 07467000461