In House legal benefits packages top ranked
In House lawyers are enjoying the most comprehensive benefits packages in the legal profession and are rated 2.5 times better than those offered by high street firms according to a new ranking index launched by Douglas Scott Legal Recruitment.
In House legal benefits packages were top ranked 590 on the benefits index where 1,000 equated to 100% of lawyers employed in the working environment receiving 100% of the benefits. Next best came the packages offered in US and International law firms which were valued at 571.
Top 50 UK law firms scored 558 points for their benefits package and those ranked 101 to 200 came fourth with 538. Top 100 firms, those ranked 51 to 100 scored 531 points.
Benefits packages offered by smaller law firms with a network of two or more offices came in at 382 and Single Branch High Street firms a bottom ranked 221 on the index.
The research shed some light on the dynamics shaping success and even survival in the different types of law firm and working environments. Larger firms clearly have one eye on talent attraction and retention as they fine-tune elements of their packages and maximise the employer proposition. Conversely, smaller, budget conscious firms tend to shy away from benefits that will have a direct cost impact but are more creative with existing resources or the free stuff.
A top ranked three quarters of lawyers employed in Top 200 environments benefit from above the statutory minimum 28 holidays per annum. A third of lawyers employed on the high street enjoy the same benefit although this increases to nearly 50% if there is a network of offices. It’s a similar story with sick pay, although a more extreme 74% of lawyers employed on the high street must rely on SSP to cover any periods of illness.
Insurance and assurance
In House, US and International, Top 50 and Top 100 law firms start to flex their muscles when it comes to enhanced benefits such as Critical Illness, PMI/Dental and Life Assurance. 37% of Top 50 lawyers, 34% of In House and 30% of Top 50 benefit from critical illness cover. 71% of Top 50, 67% of US and International and 62% of Top 100 lawyers have PMI/Dental cover. 58% of Top 100, 56% of Top 50 and 52% of US and International lawyers receive Life Assurance as a benefit.
Work life balance
23% of In House lawyers enjoy flexible working with a next best 17% of legal professionals employed by the Top 50. There is not a large spread between the remainder of employer types with Top 200 at 15% and High Street at 8%. A third of lawyers employed by US and International law firms benefit from Enhanced Maternity or Paternity, 27% of Top 50 and a hairs breadth between Top 100 and 200 hovering around the 23% mark. Maternity and Paternity leave is a different proposition for Single and Multi-Branch High Street firms with 2% of the former and 5% of the latter offering an enhanced package.
39% of In House lawyers will receive a bonus this year and 35% of those employed in US and International legal working environments. 27% of Multi Branch High Street firms’ lawyers are also incentivised by a bonus scheme just 1% behind those employed in Top 50 environments.
A third of lawyers employed by High Street firms enjoy free or subsidised parking, 36% of In House lawyers and 32% of Top 200 too. Out town locations may play a part in the ability to offer this benefit. High Street and Top 200 firms lead the way when it comes to offering free or subsidised legal services to their employees, the nature of the products and services offered by In House, Top 100, 50 and City firms probably takes the option off the table.
31% of In House lawyers receive a car allowance, the benefit is not widely available across private practice with Single Branch High Street firms the most likely with 3% of employees having the option.
Forget about gym membership if you work for a High Street employer, 0.5% with a Single Branch offer the benefit and 5% with Multi Branches. US and International blaze a trail with 41% of lawyers enjoying the benefit and Top 50 next at 23%.
51% of lawyers employed by US and International firms benefit from travel season ticket loans with Top 100 and Top 50 next best at 39% and 37% respectively. 23% of In House Lawyer and Top 200 lawyers have the option, 1 in 10 working in Multi Branch High Street environments and just 1 in 100 in Single Branches.
And finally 60% of In House Lawyers have the use of a work laptop or mobile, around 40% of lawyers working in US and International, Top 50 and Top 100 and 35% in the Top 200. 30% of Multi Branch High Street firms offer the benefit and 13% of Single Branch.
If you are a candidate, or hirer or just someone interested in legal sector data then why not email email@example.com who will gladly provide you with a more detailed table to help your drive your decision making process or research.
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