Savings in the wake of COVID-19

Despite the economic instability of the age of coronavirus, lawyers may have been able to cut costs across the board. Here’s how they can stay on track financially as the post-pandemic landscape looms.

For many lawyers across the country, COVID-19 has been a fraught time financially, with salary cuts, pay freezes or even furloughs and redundancies impacting upon the fiscal health of professionals. However, even for those whose pay may have fluctuated in this time, lawyers can and potentially should be better off financially in the wake of the pandemic.

The reason for this, Plexus associate director Sam Burrett identifies, is that the cost of lawyering has decreased.

“You no longer need to travel into the city for your job, buy coffees with colleagues or shout a round of drinks on Friday afternoon,” he posited.

“In addition, you’ve probably bought fewer expensive office clothes in the last six months while you’ve been working in your pyjamas.

“It usually costs more to be a lawyer than most people realise, but many of those costs have been minimised by lockdown and remote working.”