Rise in job levels by 15% boosts both private practice and in-house markets
09 Sep, 2013
The UK legal jobs market has benefited from a healthy influx of activity over the past six months, according to the latest market update from specialist recruiter, Robert Walters.
Within private practice there has been a significant increase in job levels across real estate finance, private equity, intellectual property and restructuring. These trends have been driven in part through recruitment activity by new boutiques and US law firms offering market-leading remuneration packages and greater levels of responsibility.
Within in-house, lawyers with financial services experience are receiving a number of offers and market leading salary packages as the impact of new regulations starts to bite. Demand outside of the capital has been boosted as businesses seek to cut costs by relocating some functions away from London.
The news supports the findings of the latest Robert Walters European Jobs Index, which indicates that burgeoning market activity generated a 14.9% increase in legal vacancies advertised in the UK between the first and second quarters of 2013.
Colin Loth (pictured), Director of Legal recruitment at Robert Walters commented: “Across each of our local offices we have seen a rise in job levels as firms look to fill gaps created by limited intakes of newly-qualified individuals and departures of experienced lawyers. In London there has been a particular spike in demand for lawyers with 2-5 years’ PQE who can hit the ground running.
“As market conditions improve we have seen salaries increase both for in-house and private practice lawyers. We expect this trend to continue in both London and the regions as firms in particular move away from the lockstep system in order to retain their best-performing individuals.”
The legal market update can be found online here.