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Legal – Mid Year Market Report 2012

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Legal recruitment in the financial services sector suffered in the second half of 2011 and was the worst performing area of corporate governance recruitment. It at least partially recovered during the first half of 2012 as the number of vacancies rose.  Whilst vacancy generation accelerated in the second quarter of 2012, a portion of this increase is seemingly due to lawyers leaving the financial services sector for a wide range of reasons.

In the final quarter of 2011, Eurozone inspired uncertainty brought the expansion of in-house commerce legal teams to a halt. In 2012, the struggling global economy has increased the focus on containing costs and limiting non-essential investment, which includes recruitment. In-house commerce recruitment remains under pressure. 

  • New vacancies from our sample financial services groups rose from 38 in the second half of 2011 to 44 in the second half of 2012.  
  • The number of lawyers accepting new in-house positions in the second half of 2011 was 61% lower than the peak achieved in the first half of 2010.
  • Salary increases achieved by in-house financial lawyers changing jobs rose from 7% in the second half of 2011 to 13% in the first half of 2012.

 

For a detailed analysis of the current Legal recruitment market, complete with up to date predictions, click on the graphic to download the full report.

If you have any problems accessing the report or would like to discuss any aspect of it, please call 020 7936 2601. We hope you enjoy the report and would very much appreciate your feedback.

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