A boutique law firm of exceptional quality and talent where clients' and lawyers' interests are aligned by collaboration and innovation
A recent Guardian article highlighted the allure of starting salaries for young lawyers, reaching up to £180,000. While these figures are undoubtedly enticing, they often come with unsustainable cost and sacrifice, which rarely decreases as the roles become more senior. This way of working often demands long hours, intense competition, and relentless pressure, contributing to a significant mental health crisis in the law (https://www.theguardian.com/business/article/2024/jul/27/starting-salaries-are-180000-but-do-young-lawyers-believe-the-hours-stress-and-burnout-are-worth-it).
According to LawCare, there was a 14% rise in requests for mental health support last year, with a notable portion citing workplace bullying, harassment, or discrimination. The 2021 report revealed that 69% of lawyers have experienced mental ill-health, a staggering figure. Elizabeth Rimmer, CEO of LawCare, points out that professional indemnity insurers are increasingly concerned about “people risk". She notes, "Stress is an issue affecting the wider sector because lawyers work long hours and often get involved in cases where things are going wrong or have gone wrong".
Anxiety and self-doubt are overly common in law firms. Laura Empson, a prominent academic, exclaims, “insecurity is built into the business model” at many of the large law firms. Considerably less than 50% of those who complete their training contract will become a partner. It is this competitive atmosphere which drives lawyers to overwork themselves in the hopes of being noticed, creating a detrimental cycle of stress and burnout.
These issues are not only confined to the legal sector. The investment banking industry has also faced scrutiny, as evidenced by a leaked report from Goldman Sachs in 2021, where junior bankers described “inhumane" work conditions. This highlights a broader, systemic problem across high-pressure professions and the risk of losing talented individuals across the wider corporate sector.
Fee-share law firms prioritise flexibility, autonomy which can support well-being; operating on a model where lawyers earn a percentage of the fees they generate, rather than a fixed salary. This structure eliminates the need for the relentless pursuit of billable hours, but without a focus on collaboration and team culture it can also lead to a silo mentality where each lawyer operates as their own entity. Bexley Beaumont replaces internal competition with collaboration. Lawyers can manage their workloads in a supportive and collegiate team culture, allowing for a healthier work-life blend and a focus on delivering quality service to clients.
Bexley Beaumont is committed to fostering an environment where mental health is not an afterthought, but a priority. We believe that well-being is integral to professional success and personal fulfilment. By offering flexible working arrangements, robust support systems, and a team culture that encourages collaboration, improved mental health naturally improves. We aim to redefine what it means to be a successful lawyer.
Elizabeth Rimmer rightly critiques superficial wellness programs, stating, "There is a tendency for firms to think they are doing all the right things and have ticked the mental health box by offering things like yoga – but you are not going to be able to yoga your way out of burnout."
Traditional and fee-share firms both have valuable roles to play in the legal sector. Fee-share law firms can provide a progressive alternative with less risk of burnout. Bexley Beaumont combines the best elements of both models, and it is only by integrating and cementing this new way of working, can we cultivate a more supportive and balanced legal profession.
To discuss any of the above further, please contact Karen: karenbexley@bexleybeaumont.com | 07971 859332
