Q1 Recap, Q2 Hot Jobs, and 3 New Legal Search Consultants
We hope you all had a great Easter weekend.
Heading into April, law firms are very much gently touching the accelerator with regards to recruitment efforts. Firms are opening new needs for corporate lawyers and it appears that firms are priming themselves for a wave of lateral hires across the board.
Our New York Associate Director, Stefano Barbagallo summaries Q1, stating:
Like always, New York set the pace this quarter with global markets to follow. Q1 has been incredibly strong as firms implement their (new) re-calibrated hiring strategies amid soaring revenues. Roles are more abundant, but getting in the door remains challenging without the right background, experience or strategy.
The first quarter of 2024 has been pivotal in shaping legal market trends for the year ahead. We've seen a surge in demand for Debt Finance and Litigation associates across the U.S., with a steady increase in demand for M&A associates as deals and transactions gain momentum over the next six months. Biglaw firms are also on the lookout for talented Funds associates. Likewise in California, Litigation is booming, we are also working with several firms in the Sports and Entertainment space, who are activity recruiting mid-level associates. Reach out to Michael McGinnis, J.D. for more direction here.
Edging on the side of caution our Director in London Jonathan Taylor summaries Q1:
Q1 in London saw a busy start with improving economic data. This Q will show growth from the recession of Q3 and Q4 of 2023. Momentum is building nicely, and the expectation is a very busy transactional market in Q3 and Q4. There is still much caution in the air. The recruitment market is busy though and the City's elite law firms are actively recruiting across practice areas. Interview processes are typically moving slowly, sometimes weeks are passing between stages. The standard of candidate required is very high, the mid-level is still very much the desired level and UK trained is preferred. Australian candidates are gaining more traction though, which is a good bellwether and in stark contrast to 2023.
In London, top-tier firms are looking for lawyers across the Corporate and Private Equity space (UK-qualified, 3PQE associates predominantly). We are also actively working on roles across Funds, Data Privacy, Debt Finance, Structured, Finance, Insurance and Disputes. In recent weeks we have seen top-tier Irish law firms intensify their recruitment efforts, particulary across corporate practice areas. Ireland presents as an attractive pathway, especially for Australian and New Zealand associates seeking international exposure before making a move to London. Read more about the Dublin legal market here.
Down under, Disputes remains busy with open roles across top-tier firms. In fact, there is increased activity across lateral hiring in general in Sydney, Melbourne and Brisbane with a significant uplift in Perth. Law firms here are actively recruiting across Projects, Energy and Infrastructure and are willing to pay in line with top-tier firms in Sydney. Therefore, if you are an associate in Perth looking for a new challenge or believe you could be better remunerated, don't hesitate to reach out.
Matthew Mayes, Senior Consultant in Sydney, addresses the Perth legal market, stating:
My conversations with partners in Perth are extremely positive. They're actively recruiting and willing to offer competitive salaries akin to those in Sydney. This is largely driven by the ongoing growth of the Western Australian economy, fueled by the mining and resources sectors. High-demand areas in Perth include energy, projects, environment and planning, employment, and commercial litigation. Senior associate salaries at top-tier firms in the state now range from $180,000 to $225,000 (Aud).
Company News: Cole Evarts joined our Sonder LA office as Consultant, Gabriella O’Grady joined our Sydney team from Corrs Chambers Westgarth, and Jeffrey Dunne started in our London team last week with vast experience in legal recruitment. Learn more about our new Consultants here.
Latest Articles
In The Headlines
Law Firm's Driving Positive Change & Innovation
→ Six out of the seven new partners at Vinson & Elkins recently welcomed newborn babies, all born within a few months of their promotion to partner, reflecting the firm attention to the 'whole person' focus. A new partner who had her baby in November said that pregnancy did not affect her path to partnership.
→ Nine firms in London have joined the Reignite Academy , providing more opportunities for lawyers who have taken a break from city careers to return to private practice. The nine firms now joining the programme are Herbert Smith Freehills, Hogan Lovells, Mayer Brown, PwC, Shearman & Sterling, Simmons & Simmons, Slaughter and May, Travers Smith and Guildford-based Stevens & Bolton.
→ Trowers & Hamlins has launched a new innovation seat for trainees, following similar moves by a host of other major law firms. Starting from April this year, Trowers’ trainees will have the chance to undertake a six month stint with the firm’s innovation team, enabling them to contribute to the firm’s innovation strategy while enhancing their technical skills through the use of various legal tech and AI tools.
The Sonder Podcast ??
Shaping the future of legal talent with Lloyd Gash and Rebecca Adlington .
For this episode we are joined by Lloyd Gash, a Senior Lecturer at The Dickson Poon School of Law, King's College London. Formerly a Dispute Resolution Solicitor in London, Lloyd's shift to academia reflects his commitment to learning and mentorship. He now finds fulfilment as a lecturer at one of London's top universities.
Lloyd sheds light on new and emerging teaching practices and initiatives such as the 'The Future of Legal Practice' series. Most importantly, Lloyd provides insight into what we can expect from the next generation of legal talent, and their influence on the modern day law firm.
Global Hot Jobs ??
London:
U.S.:
Australia:
Dublin:
International:
Wishing you all a great month ahead.
Global AmLaw 100 Recruiter | Championing Elite Lawyers | Advocate for Progress & Innovation | Lifelong Outdoorsman | USA
8 个月Cheers to Q2.
AmLaw 100 Recruiter ? Lawyer ? Former Biglaw, Funds, Secondaries + PE ? Sonder Consultants ????????
8 个月Spring has sprung!