GIMME SHELTER - The rent is too damn high in Silicon Valley—and it’s driving off in-house candidates. So writes Caroline Spiezio, who reports that in-house candidates at all levels increasingly are turning down offers in Silicon Valley, citing the cost of living as the reason. What’s more, with the average pay for in-house support employees at less than $60,000, while the average home price in places like Menlo Park and Palo Alto stands at $2 million, in-house lawyers find themselves handling more administrative tasks while support staff openings linger unfilled, sometimes for months.
LESS IS LESS - May be time to tighten that belt, counselor. A full 82% of in-house legal leaders will be forced to cut legal spend over the next two years, according to a report by EY. Based on a survey of 1,058 senior legal practitioners from businesses in 25 countries, the report finds that rising business costs and in-house salary competition are some of the reasons, as are escalating salaries for outside lawyers. As Dan Clark reports, some 37% of respondents indicated that over the next two years they plan on cutting legal spend by 11% to 20%.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
