How do I make money as a self-employed solicitor?
“How do I make the numbers add up?” This is one of the practical questions we get asked by solicitors considering a change of career to become consultants.
Consultancy is now a real alternative for solicitors looking to do private practice differently, with greater flexibility and far more freedom.
Many solicitors are reluctant to take a leap into the unknown world of self-employment because they have financial responsibilities and they are understandably nervous about not being able to make the money they need.
A greater choice than ever
Since Nexa was launched five years ago the options for solicitors looking to become self-employed has grown substantially. There is now a large array of different types of consultancy platforms and firms and this proliferation of choice is great for everyone.
However, we know choice can feel a bit daunting, so here is our guide to working out what is the right option for you.
Ask the right questions
Working for yourself
If freelancing, locum or contract work isn’t for you then you may be thinking about running your own legal business – alone or with a team – supported by a platform which takes care of all the back-office tasks, like Nexa.
As a consultant at Nexa you will be generating your own fees from your own clients (earning a minimum of 75% of your billing from day 1), but there are also other ways you can generate additional income. For example:
See what your future could look like
For a simple example of how the figures stack up, see our recent blog: What’s the catch? There isn’t one – our consultants really can cash in!
Take a look at our income calculator to see what your future could look like – it’s quick and easy to use.
Have more questions?
If you’re interested in finding out a bit more about life as a consultant lawyer and what we can offer you at Nexa , check out our careers pages here or, have a look at our brochure. For a confidential, no obligation chat, contact David Roth.
–Nigel Clark, CEO