What is it about going in-house that seems to increasingly draw attorneys from law firms to in-house legal departments? According to a recent survey by NALP, the attrition rate for experienced attorneys with about five years of experience jumped dramatically, from 60 percent in 2000 to 78 percent in 2005. A BCG Attorney Search survey concluded that approximately 80 percent of attorneys actively seeking positions were interested in in-house opportunities. These attorneys expressed concerns regarding their work/life balances, rising billable requirements, business development demands, repetitive work, and unlikely prospects of becoming partners. To fully understand this trend, one needs to take a closer look at the factors prompting a growing number of attorneys to transition from law firms to in-house legal departments.
Usually when a large company faces a lawsuit, the suit isn't filed by one of its top in-house attorneys. But that's exactly what General Electric Co., the world's second-largest company, is dealing with.
Are you overworked? Tired of stressing about your billable requirements? Dissatisfied with the level of responsibility you are given or the quality of your deals? Miss having a life outside of the law firm? Not confident in the ability to make partner at your law firm? Been daydreaming lately about finding the perfect in-house position?