Why did you put yourself on the market in the first place? Were you were passed over for a promotion? Or you just don’t fit in? Does the money change things? Will the issues of the past continue to be a problem?
During this pandemic ...
Don't just put your toe in the water. Law school doesn’t prepare you for how to manage your career. They don’t teach you how to strategically position yourself in an ever-changing marketplace.
“Do your research. Dig into the company’s financial health to assess job security. Look at where its funding comes from, and make sure the projects you’ll be working on seem stable. Don’t lose sight of the long-term. Remember your career goals. Will this help you get there? Is the opportunity likely to come up again in the months to come?”
Rachel Feintzeig, Work Life Balance writer for the Wall Street Journal, Do You Dare Switch Jobs in the Coronavirus Economy.
Should I stay or should I go?
Layoffs were commonplace in the legal industry during the Great Recession. For now, large firms are opting to cut pay, reduce hours, and furlough lawyers. Law firms specializing in family, housing, and criminal law have been hardest hit due to local government offices being closed. Many firms are asking for more lateral associates and staff.
Counteroffers are up.
Interviewing and getting offers is not the way to negotiate a better compensation package. It’s a career killer. What you don’t want to do is create an environment of mistrust. You don’t want to put your career in jeopardy.
Your reputation at the firm will never be the same. There will always be a question of your loyalty. They simply will not trust you anymore.
“In my over twenty years as a legal recruiter, accepting the counteroffer results in being pushed out the door 85 to 90% of the time. The candidate is either let go for someone less expensive, or the promises made did not pan out. About 3- 6 months after the counteroffer is accepted, I get a call.” – Shari Davidson, President of On Balance Search Consultants.
Accepting a counteroffer is likely to damage your relationship with your current firm. Think about it, you just told your firm you are leaving and are now only staying because they threw some money at you.