The average annual salary of in-house counsel has risen over the past year yet massive numbers would not hesitate to scamper off to a new job, revealed a recent report.
The median annual salary increase rate for all positions across industries climbed by 4.3 per cent, up a fraction from 2016, according to the BarkerGilmore 2017 In-House Counsel Compensation Report. More than 1,500 in-house counsel in the United States responded to the online survey that was conducted from March to May 2017.
But that modest increase was not uniform across all sectors.
For the “survival of the profession,” the Quebec legal society is calling on its members to shift away from hourly billing to alternative pricing arrangements to better respond to client’s needs, foster greater access to justice for citizens, and encourage a healthier and more balanced professional life for lawyers.
But at a time when approximately 70 per cent of Quebec’s private practitioners still charge by the hour, the Barreau du Québec recognizes that its call for a paradigm shift will require a “total cultural change” that will be met with resistance by many lawyers and law firms who have done well by the status quo, said Claudia Prémont, the president of the Quebec Bar, which recently published an 84-page study entitled “Hourly Billing: A Time for Reflection.”
Insider trading can be a slippery slope for in-house counsel.