(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:
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I got mine in September - 2.3%
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I think we will be getting 4-5% raises.
Counsel Responses:
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I find out tomorrow. Update: It's 7% - I'll take it!
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Saying no to them.
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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 =(.
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Are we thinking 3-4%?
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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.
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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.
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I was expecting a raise and an adjustment for inflation. Instead I just got an 8% “raise”.
Attorney and Associate Responses:
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TBD. We approve rate increases annually in Q1. We are a large F500 company.
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Clueless law firm attorney here - what “rate” are we talking here?
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7.7 more like 20% lol.
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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).
