Job for life?

My Mum and Dad are retired teachers. Not being pushy parents I don't think they much minded which career path I chose as I neared the end of my schooling '“ as long as it wasn't teaching.

I did toy with the idea of journalism for a time (hence my delight at now having an outlet through this monthly column) but ultimately settled on the law, going straight from Sheffield University to Chester Law School and then onto a training contract in Manchester immediately after that in September 1996. I considered it a safe bet in terms of a solid career and indeed have thus far been a lawyer in this city ever since.

Years ago, this tale was quite the norm. People qualified as solicitors and then the majority would step onto the upwards-inclining treadmill which they hoped would ultimately lead them to the dizzy heights of partnership and perhaps even the Holy Grail of equity to boost that pension fund towards the end of their working life.

There are of course always those who embark on one route only to find that it is not for them. One former solicitor friend of mine is now a university lecturer, and one guy from my university course recently Facebooked me to announce that he's become a futures trader as he can make way more money that way.

Recession realities

However, the country's current financial position is altering the legal landscape. Some people are being pushed into making decisions which a pre-recession crystal ball would not have predicted. I know of an equity partner who has resigned to take salaried partnership elsewhere, as the personal financial stresses of equity were too much to bear (even in the good times). Another friend remains the only member of a previously large remortgaging team and is feeling none too comfortable. Conversely, I witnessed at a recent round table meeting for law firm associates one fellow professional announcing that he felt personally untouched by the recession. Lucky him.

At the same meeting, which was chaired by Professor Stephen Mayson and invited views on the future of the profession, one solicitor said that he blamed bankers alone with their big salaries and bonuses for the country's economic problems. He thought that solicitors (whom he said are not as well paid as everyone thinks) would remain untouched by criticism as they simply 'carry out instructions on deals'. This was not a popular view, and came under rapid fire as it can be no defence for a solicitor to say they were 'just doing as they'd been told' when a deal goes horribly wrong, while still putting in a significant bill for their part in the piece '“ a monkey could do that. My response was that as a professional indemnity lawyer I was expecting a raft of claims against solicitors and surveyors to come in as people start to look for any and all professionals to blame for their financial woes, as per the pattern of the last recession.

When it comes to taking advice on regulation and compliance, it is worryingly the case that many solicitors' firms are saying that while they can see the value of the service, their financial priorities are elsewhere just now. I have no wish to scaremonger but categorising compliance as a luxury item while under the watchful eye of the SRA could turn out to be a costly gamble'¦

Taking a break

On a lighter note, one way in which many Manchester lawyers recently channelled any career stress was with exercise. On Sunday 17 May, Jamaican sprinter Usain Bolt and Ethiopian distance runner Haile Gebrselassie were joined on the streets of the city by two teams of runners from my firm '“ oh yes, and by 33,000 other people. As you may have seen on TV, Bolt smashed records for the fastest ever recorded 150m sprint despite the foul weather which our beloved city threw at him.

Weightmans' 10km runners fared slightly better with the morning's weather and put in their own sterling performances. The teams came 21st and 30th out of 163 entrants in the Large Business '“ Mixed Team category and raised over £1,200 for charity. It was my fourth Great Manchester Run and the atmosphere was brilliant, as it has been in previous years. I found it tough (I'll refrain from rehearsing my excuses about having limited opportunities to train, etc.) and saying I enjoyed the actual race would be inaccurate. However I did savour the post-event buzz and sense of achievement when I discovered that I'd finished in under an hour (58 mins and eight seconds to be precise). A glutton for punishment, I've already pre-registered for 2010's event. Bring it on!

For now however, I'm going to take a break from the realities of the recession, professional regulation and any form of serious exercise. By the time you read this I'll be in (hopefully) sunny Sardinia enjoying two weeks of making no decisions more stressful than which wine to try next and whether I'm in the mood for pasta or seafood. Ciao for now.