Is the world finally looking a little bit brighter for legal professionals worried about the effects of the Great Recession? The latest Global Legal & Compliance Salary Survey, conducted by specialist international legal and compliance recruitment consultancy Laurence Simons, reveals that there’s been a steady improvement in the way legal professionals see the economy. In the 2011 version of the survey, only 25 percent of respondents said they were optimistic about the economy, but this past year 46 percent were feeling good about its prospects.
However, the survey also reveals that despite this increased enthusiasm, compensation just isn’t what it used to be. “It is still very much a buyer’s market,” Danice Kowalczyk, managing partner for North America at Laurence Simons, told CorpCounsel.com. “Thus, compensation will be fair but conservative for a while—this is the new normal.”
