Legal professionals struggle economically, according to a new report from across the pond. Does it hold water for legal professionals in the United States? If it does, the good news is that nothing seems to be able to stop the hottest legal hiring market in decades. If you are looking for sympathy, it is in short supply for lawyers for many reasons and expect to hear a plethora of violins in response to tales of economic woe. Legal professionals struggle with health and well-being, and have significantly higher rates of depression and substance abuse issues than other professions. Perhaps there is a connection between the two, with some graduates entering the legal market with over $300,000 in student debt.
“Two-thirds of legal workers struggle to make ends meet, according to new research, with nearly half running out of money before their next pay-check. The research, compiled by online job website CV-Library, reveals that 67% of legal professionals struggle to support themselves financially, but more than half (53.3%) are too scared to ask their employer for a pay rise. The study, which surveyed 2,300 British professionals, found that the majority of legal workers were more likely to apply for a new job, as opposed to ask for a pay rise, as 60% feel confident about securing a higher paid position elsewhere.”
Read: Two-thirds of legal professionals struggle to make ends meet at Legal Cheek