Part two of the lead in to the release of our 2016 salary and remuneration guide brings us to a general market update, who is hiring and what are they looking for.
Before discussing market activity, it’s important to highlight that much of the below information is fed through from firms within the top 3 tiers of the local market. It is not always a reflection of the entire legal market and as such should be read in this context.
Looking at activity across both practice and industry we get a clear picture of the impact financial services buoyancy has on recruitment. Whilst volume loan sale related work has slowed late in quarter 3 the overall flow of banking and financial services (funds) related work continues to dictate a consistent volume of recruitment.
Another strong indicator for the overall health of the market is the spread of recruitment activity across various sectors both in practice and industry giving greater options to professionals seeking a change as demonstrated below.
It’s important to look beyond the sector activity however and also examine what level recruitment has taken place. As with previous years, associate level recruitment has been the key focus amongst the larger practice firms with 3 – 5 PQE being target years. Newly Qualified recruitment has at specific focus points during the year (April / December) been extremely busy but opportunity for junior lawyers has been consistent for the duration of 2015.
Senior level recruitment to include partner recruitment has probably had it’s busiest year of the last 4 – 5 which indicates a more opportunistic outlook amongst the firms. Couple this with an increase in salaries which will be discussed next week and it’s clear that the shackles of recession no longer bind the legal market.
On a final note, the number of permanent roles we worked on this year increased by 21% over last year, and the number of contract positions increased by 16%. Whilst these figures can partially be performance based and not purely reflective of the market it is a definite sign of continued growth.
Activity within the legal market, who is recruiting and what are they looking for? Written by Legal Director, Robert Connolly and published by Amicus Recruitment, 27.11.2015.