Watch these hiring and pay trends for legal industry

Evolving economic conditions have workers and employers reassessing compensation, career priorities and recruiting strategies. The 2024 Salary Guide from Robert Half outlines timely employment trends and starting salaries for hundreds of positions across multiple professions. Featured below are the key highlights to know in 2024.

1. Cash is still key. Nearly 4 in 10 (39 per cent) workers say their greatest frustration about job hunting is not being offered a pay package in line with expectations, and more than one-third (35 per cent) of hiring managers report an uptick in job candidates who ask to negotiate compensation packages. In addition, 35 per cent of workers said they will look for a new job if they don’t get a raise.
2. Flexible work holds weight. 3 in 4 workers cite flexible work schedules as the top perk they want in a job, and nearly half (49 per cent) now feel that a hybrid schedule is the ideal work structure. Separate Robert Half research reveals that six in 10 workers would rather stay in a job with flexible work options than accept a position with higher pay but rigid in-office requirements.
3. Companies are poised to pay up for top talent. 92 per cent of hiring managers face challenges hiring skilled talent, and as a result, 4 in 10 employers plan to increase starting salaries in 2024 to attract and keep highly skilled workers. In addition, 39 per cent said they are adding new perks and benefits.
4. Salary transparency offers a hiring advantage. More than half of hiring managers said that including salary information in job postings helps attract qualified candidates (55 per cent) and saves time in the interview process (54 per cent). Workers also want pay transparency and 63 per cent said they would take themselves out of consideration for a role if salary ranges aren’t provided upon request.
5. Negotiation pitfalls are common. While more workers are negotiating salaries, additional Robert Half research shows that nearly half (47 per cent) admit to making a salary negotiation mistake, the most common being accepting too low of a salary for their skills and experience (30 per cent).

“Economic uncertainty and cost of living continues to be a top concern for professionals, resulting in the high prioritization of salaries as workers look towards 2024”, said David King, Senior Managing Director, Robert Half, Canada and South America. “Now more than ever, it’s crucial to for companies to ensure that they are benchmarking salaries and overall compensation, perks, and benefits, in order to both attract and retain valued talent, enhance employee satisfaction, and maintain continuity and productivity across their business.”

While overall salaries are expected to rise in 2024, increases are likely to be more measured than in recent years. Some roles, however, are especially in demand, and are expected to remain so into the new year:

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Visit the Robert Half 2024 Salary Guide and salary calculator to view location-specific salary ranges and national data for hundreds of positions, as well as the skills commanding salary premiums, in demand skills and certifications, and the professions doing the most hiring. Robert Half is a global recruiting firm.