Lawyers in demand and in the money

23/7/2010

United Kingdom

- Private practice firms hiring paralegals again
- Financial services bonuses return to 2007 levels

Legal hiring activity continued to increase in all areas during quarter two, according to the latest market update from recruitment specialist Robert Walters.

Private practice firms recruited in far higher volumes than quarter one. Movement was across the board, with the smaller West-End and larger City and US firms actively recruiting again. There was significant demand for corporate, banking and real estate lawyers during quarter two and many firms also began to recruit paralegals again.

In financial services, there was demand in derivatives, real estate funds and credit trading, while litigators and regulatory specialists were also sought-after as firms focused on pre-empting new regulation and handling increased levels of litigation.

Toby Fowlston, Director of Robert Walters’ Legal recruitment division, comments:
“As pay freezes were lifted across the legal sector and recruitment increased, basic salaries started to rise during quarter two. However, in financial services, bonuses for many returned to something akin to 2007 levels. The increased appetite for paralegals in quarter two is also a very positive sign for the market and we expect this to continue as workloads carry on rising.”

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