Hiring a great attorney for your firm isn’t just about finding the right fit—it can also come with a hefty price tag. Whether you’re recruiting a mid-level associate or a top-tier partner, the costs can add up fast. Here’s a breakdown of what you might be spending when bringing a $200,000 attorney on board:
- Recruitment Agency Fees: If you’re using a recruiter, expect to pay between 15% and 30% of the attorney’s first-year salary. For a $200,000 attorney, that’s anywhere from $30,000 to $60,000.
- Advertising Costs: Posting a high-level position on job boards or legal platforms can get pricey, especially if you want to target a specific audience. You could spend between $1,000 and $5,000 on ads, depending on how long your search runs.
- Time and Resources: Don’t forget the internal costs. Partners, HR, and other staff involved in the hiring process are investing valuable time. When you add up those hours, it could cost you thousands—especially if the search is prolonged.
- Signing Bonuses and Relocation: To sweeten the deal for top candidates, you might need to offer a signing bonus or cover relocation expenses. These extras can range from $10,000 to $50,000, depending on the situation.
All told, recruiting a $200,000 attorney could run you anywhere from $40,000 to $115,000 or more. And if the salary goes up, so do the costs.