Paralegal Power
Here’s an interesting nugget that may give an insight into law firm leverage going forward. According to the Institute of Paralegals there are now 60,000 to 70,000 paralegals in solicitors’ firms, outnumbering associate, assistant and consultant solicitors combined says The Times . With assistant/associate levels at major firms likely to see a net fall by the end of this financial year, it is a notable statitstic. Furthermore, The Times commentator continues – almost surreptitiously, paralegals who may …
Here’s an interesting nugget that may give an insight into law firm leverage going forward. According to the Institute of Paralegals there are now 60,000 to 70,000 paralegals in solicitors’ firms, outnumbering associate, assistant and consultant solicitors combined says The Times . With assistant/associate levels at major firms likely to see a net fall by the end of this financial year, it is a notable statitstic.
Furthermore, The Times commentator continues – almost surreptitiously, paralegals who may have law degrees but no professional qualifications are taking over increasing amounts of work. And it’s not just inside law firms; there are already 6,000 paralegal firms, and, with the Legal Services Act ushering in new structures, the Institute of Paralegals predicts that in two years there will be “more paralegal law firms than solicitors’ firms — and they will not be regulated”.
So opportunity and a challenge…
Paras on the march [The Times]
September 15, 2009
This goes against the grain of law firms being able to charge more for expesive assistants. Why take on more paralegals than qualified staff?
September 15, 2009
How so?
Paralegals cost less to employ and can basically do the same quantity of work as junior lawyers. Cost breakdowns are arbitrary anyway and can be hacked to equal fees charged.
Net result = Better profit margins for partners (and spouses)
September 16, 2009
Deskilling again Been going on in industry for years.
I hope that paralegals enjoy the low pay and the repetitive, boring work that an LL.B brings.
September 20, 2009
Continuing a trend, I think. Definitely makes sense for firms’ profit margins!
October 7, 2009
Yeah definitely a good direction. Good for the law firms and good for their clients.