I am writing this just coming out of 107 days of lockdown in Sydney so how the potential new outbreak affects business confidence is an unknown. Most lawyers I am speaking to are still very bullish and aggressively hiring across most practice areas and levels. We are starting to find face to face interviews are coming back. Most firms are still working partly remote and partly on-site. There is a particularly positive response from junior lawyers who have missed out on face to face mentoring and learning from being in and around other professionals in an office setting. Some lawyers are actually meeting colleagues for the first time, as they have worked with the firm for months remotely. It is clear that things will not return to the pre-covid normal.
The firms that insist on full-time back in the office are at risk of losing talent to competitors offering greater flexibility. Salaries are also on the rise as demand outstrips supply of experienced legal talent.
The COVID outbreak has indeed changed us on so many levels and it has pushed us to accept a completely new version of our day to day lives.
The last two years have profoundly influenced the way we work as well with more companies adopting the hybrid approach, allowing employees to work part-time from home.
With everyone coming back to the office, another question rises: Mandatory vaccination or not? This will be an interesting topic to keep our eyes on.
According to the Jobs Index from last quarter, other than interviews being postponed or moved to zoom the following trends have been observed:
- Biggest jump in roles are corporate and M&A
- Double the number of tax roles
- 50% increase in litigation and dispute resolution roles
- 27%- 30% increase in insurance/reinsurance roles and real estate
- 18% increase in banking and finance roles
- there was a slight decline in technology, employment and personal injury roles
- family roles decreased by 62%.
The main levels of hiring were at the director/partner level with a 125% increase and with a 66% increase in graduate/entry roles.
If you have questions about the market or salaries please contact Jason Elias on [email protected] or 02 9555 5711. Jason Elias is the Founder and CEO of Elias Recruitment, a boutique legal recruitment consultancy that specialises in finding lawyers for law firms, NFPs, and corporate in-house teams.
JOBS INDEX Q1 FY22
Banking & Finance
|Corporate / M&A||65||93||43%|
|Insurance / Reinsurance||33||43||30%|
|Litigation / Dispute Resolution||50||75||50%|
|Seniority||Q4 FY21||Q1 FY22||% change|
|Department / Div Head||7||4||-43%|
|Director / Partner||4||9||125%|
|Graduate / Entry||6||10||66%|
|Junior Associate / Manager||74||61||-17%|
|Mid Associate / Manager||298||373||25%|
|Snr Associate / Manager||220||225||2%|
Methodology: the Elias Legal Jobs Index is based from sample data extracted from Sydney and Melbourne law firm advertisements.