Wrapping Up 2024: Legal Market Insights, Promotions, and Career Guidance
A Year-In-Review
Despite a challenging economic environment, the year has been marked by resilience, robust market performance, profit growth, and strategic expansion. We saw a revival in dealmaking, the acceleration of global growth initiatives—including high-profile mergers—and a surge in partner hiring, particularly as US firms expanded their presence in London and deepened their reach across the US. These trends were accompanied by salary and bonus increases from associate to partner level.
Top-tier firms are navigating a landscape shaped by slower economic growth in key markets like the US and Europe, while emerging economies in Asia and the Middle East present new opportunities for expansion.
The focus in major markets such as London and New York, however, remains on high-value transactional work, particularly in private equity and M&A, with dealmakers anticipating global M&A volumes to exceed $4 trillion in 2025, driven by factors such as regulatory changes and economic conditions. Simultaneously, there has been a significant uptick in demand for finance lawyers, particularly in areas like leveraged finance and structured finance, as firms navigate complex cross-border transactions and adapt to shifting economic pressures.
Litigation, arbitration, and restructuring practices have experienced growth, reflecting increased global disputes and an ever-changing economic, political, and financial climate. Regulatory changes, particularly in ESG, data privacy, and tech-related fields, have also driven demand for specialised legal expertise.
Innovation remained at the forefront in 2024, with generative AI (GenAI) continuing to reshape the legal landscape. This transformative technology has unlocked significant productivity gains and new commercial opportunities, solidifying its role in driving growth across the industry.
It’s safe to say the groundwork has been laid for a busy recruitment market in 2025.
Sonder’s Global Impact
This year, we’ve achieved several milestones. Our business expanded across the US and Asia, enabling us to facilitate more placements across more countries than ever before. We’ve deepened our relationships with the world’s leading law firms and proudly supported associates and partners in reaching new career heights.
At Sonder, we recognise that every career path is unique, and we’re privileged to play a part in shaping yours. If you’re taking this holiday season to reflect on your next steps, we’ve compiled resources to guide you into 2025. Whether you’re exploring new markets, evaluating take-home pay, or planning your next career move, our team is here to support you every step of the way.
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Resources to Explore:
Tax Calculator: Compare take-home pay across key legal markets - https://www.sonderconsultants.com/tax-calculator
2025 Legal Trends: Insights into what’s ahead for the legal industry - https://www.sonderconsultants.com/articles/legal-recruitment-trends-for-2025
Salary Guides: Comprehensive benchmarks for legal professionals - https://www.sonderconsultants.com/categories/resource-for-lawyers
Career Advice: Market updates and recruitment tips - https://www.sonderconsultants.com/categories/career-advice
Current Opportunities: Explore roles that match your ambitions - https://www.sonderconsultants.com/jobs
Celebrating the Professionals at Sonder
In our latest town hall, we celebrated the achievements of our global team and recognised outstanding individuals who have recently been promoted.
Individuals Include:
As 2024 comes to a close, we want to take a moment to thank you—our network—for your trust and support throughout the year.
Wishing You Happy Holidays and a Prosperous New Year!