Many lawyers mistakenly believe that consulting requires a certain level of seniority before it becomes an option, but that is no longer the case. We’re seeing more and more clients bringing in lawyers with two to seven years’ post-qualification experience (PQE) on short to medium-term contracts, opening up the benefits of a consulting career to a new generation of progressive lawyers.
Moving into consultancy can allow lawyers who are feeling stymied by a lack of variety or career progression in a big firm to get exposure to more variety and gain in-house experience in quality commercial roles without having to make a permanent move.
A low risk move during heightened demand
In the current circumstances, legal consultancy offers an exciting alternative for lawyers who may have been planning a move overseas, but whose plans have been stifled by the pandemic.
While moving from a permanent role into consultancy might seem risky, there are opportunities now available that would not have been open to lawyers at the early stages of their career in pre-Covid times. This demand is being driven by factors such as headcount freezes on permanent roles as well as an increasing requirement for an expanded range of legal skills.
Ambition and professional growth
Many of the entrepreneurial lawyers that come to Peerpoint seeking a consulting career have some kind of side hustle or other interest. They might be running their own business or exploring artistic endeavours. By opting for consultancy, they don’t have to stop learning or building experience of good quality legal work while still pursuing those interests.
For ambitious lawyers, a consulting career can allow them to take calibrated risks which, when combined with a commitment to quality legal service delivery, can result in genuine career progression.
Greater flexibility and exposure
Many lawyers in private practice are faced with a limited picture of career success outside the partnership track. For these individuals, the greater flexibility and control that consulting offers, as well as good quality work, pay and career progression can be very appealing.
We also see a growing category of lawyers early on in their career being attracted to consulting because it offers exposure to new industries or types of work that they might otherwise not be able to experience.
Peerpoint: A safety net that helps you succeed
Peerpoint gives consultants the best of both worlds: an independent career with a strong safety net. We support lawyers transitioning into consultancy, provide feedback on assignment performance and help consultants leverage each new experience and boost their skills along the way. As we are part of Allen & Overy, consultants have access to a plethora of resources, our own training and development programmes, regular networking events, and one-to-one career coaching and support.
Our clients are increasingly keen to work with individuals with two to seven years’ top-tier PQE in banking and finance, international capital markets, corporate, financial litigation and investigations or financial regulation. Remember there is nothing career-limiting about legal consulting; because of the high-quality nature of the work on offer, it can only strengthen a CV for whatever opportunities the future may hold.