According to the report, the UK market is currently seeing law firms still exercise some degree of caution, following Brexit and the snap General Election. As a result, recruitment levels remained dismal last year.

That being said, there has been a slight turnaround since 2017, with this year seeing UK firms, and US firms operating in the UK market, more interested in hiring Australian and New Zealand lawyers, particularly in the finance and restructuring space.

However, despite the interest, the report noted the barrier to entry for Aussie lawyers remains high and only “the creme de la creme can realistically explore roles with the elite New York firms”.

“Obtaining sponsorship is not usually an issue for most firms if you work in one of the key transactional practice areas,” it said.

Moving on to Italy, the report found the corporate, M&A, banking and real estate practice areas are seeing the highest levels of demand.

“Despite the market being dynamic, Italy remains a relatively domestic jurisdiction when it comes to openings in the legal sector,” the report said.

“Only occasionally do law firms look for common law qualified lawyers with experience in banking and finance, but when these requirements arise, the low salary levels (even if commensurate with a lower cost of living) make it difficult for these firms to attract foreign lawyers. 

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“In addition, knowledge of the local language remains a clear asset.”

In the Middle East, demand is picking up in the corporate, finance, projects and construction space. Similarly, the report found other legal roles in litigation/arbitration, real estate and IP/IT are also seeing demand.

The report found firms are continuing to look for foreign lawyers from the UK, Australia and New Zealand to fill out their practices to meet this demand, particularly those lawyers with between two and five years’ experience.

In Hong Kong, the most active practice areas are capital markets, banking and finance, funds, M&A and litigation, according to the report.

“Australian qualified lawyers with Mandarin capability are particularly sought after, as partners are attracted to the broad nature of their training,” the report said.

“Although Mandarin languages are always desirable, firms such as Magic Circle, major international, US law firms and offshore law firms are always keen to meet with Australian lawyers from top-tier firms looking to relocate to Hong Kong.

“With salaries sometimes more than double what the local market in Australia is paying, coupled with a low tax rate and a big expat community to socialise in, it’s with good reason that many Australians are making their way over to Hong Kong.”

In the Singapore market, the report found that the most sought after skills lie within the M&A, banking and finance, and construction practice areas, with firms holding significant appetite for newly-qualified lawyers and those at a senior associate level. 

“Increasing levels of recruitment activity coupled with a relatively small pool of candidates on the ground mean the appetite for internationally qualified associates across most practice areas will continue to be high for the foreseeable future,” the report added.

Lastly, the US legal market continues to be in overdrive. The report stated that New York is the largest legal market by headcount in the US, bringing in huge numbers of summer associates from around the country each year.

As a result, the report found that most firms are only considering lateral hires with bar admission and those with at least three years’ experience.

“Australian lawyers qualify for the E3 visa, which is much easier to obtain than other classes of work visa, but there is limited demand for foreign lawyers given the oversupply of qualified lawyers on the ground,” the report said.

“Firms are increasingly reluctant to go through the cost of sponsoring Australian lawyers through the New York Bar process as they are also seen as a future flight risk.”