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(Author) Legal Professional
I’m curious how other in-house teams are handling 2023 rate increases given the current inflation rate of 7.7% and the possibility of a recession in 2023? Are you holding flat or providing a slight increase in 2023?
General Counsel Responses:
I got mine in September - 2.3%
I think we will be getting 4-5% raises.
Counsel Responses:
I find out tomorrow. Update: It's 7% - I'll take it!
Saying no to them.
I think it’ll be difficult for companies to hold flat because of inflation, but because of the recession I’m anticipating a minuscule increase =(.
Are we thinking 3-4%?
No increase. “You’re lucky to have a job, look at FAANG/Twitter layoffs. This is an employers market now!” It’s somewhat miserable, but an easy job.
You're absolutely going to need to provide significant increases. We fought with the board over this, got budgeted 2-3%, and have lost 20% of our most senior attorneys.
I was expecting a raise and an adjustment for inflation. Instead I just got an 8% “raise”.
Attorney and Associate Responses:
TBD. We approve rate increases annually in Q1. We are a large F500 company.
Clueless law firm attorney here - what “rate” are we talking here?
7.7 more like 20% lol.
Are attorneys jumping companies? Seems silly to deny meaningful raises only to have to hire new people who will be looking for raises.
In-house? Be a part of the conversation on Fishbowl (anonymous).
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