Legal Market Review – June 2017

Written by Thomas Eckardt on 5th June, 2017 ·

Introduction

 

The legal recruitment market this year has been ‘steady’. Most released roles have been replacement as opposed to growth. However, there are a select few sectors that have seen continued demand.

Salary reviews are in process generally and we are starting to see initial indications below.

This is designed to be a guide for the market only. For more specific questions please contact me on 02 9043 8734 or email Tom@EGConsulting.com.au

 

In-House Market – FS

  1. Steady hiring throughout the year to date with strong, continued, demand for regulatory experience
  2. Good initial salary increases across the board from internal reviews; 5-8% increases being market standard at the moment
  3. Increased demand for mixed legal and compliance experience (particularly privacy experience)
  4. Lawyers with at least 5 years post admission experienced gained in private practice in highest demand
  5. Contract associates and temporary hiring continues to be a method of avoiding additional head-count issues.

 

In-House – Commerce

  1. Less active hiring than private practice or FS
  2. Salary increases slightly lower generally at 3-5% (depending on sector and company performance)
  3. Strong continued demand by lawyers looking to make the move into these sectors from private practice
  4. Senior Lawyers with 7+ PQE in demand with commercial law experience
  5. Again, contract hiring more common

 

Private Practice

  1. Salary increases consistent. However, lower than expected, 3-8%. Lateral moves between firms at 10 – 15%
  2. Bonus’ fairly poor at current indication
  3. High demand across corporate, finance and projects
  4. High demand for mid-level associates with at least 3 years post admission experience
  5. Permanent hiring the norm

 

International – London

  1. London hiring has been on hold generally for the past 3+ months. However, US law firms are now very active
  2. Demand for 1-3PQE lawyers with corporate and finance experience
  3. High salary offering at US law firms in London (increases of up to 40%)