Despite its proximity, New Zealand fared remarkably different to Australia during the GFC. New Zealand fell into a deep recession in 2009 that may have resurfaced even before the Earthquake in Christchurch last month with TVNZ reporting that NZ's Reserve Bank Governor Alan Bollard recently labelled the economy as "very flat".

Meanwhile, the clean-up and reconstruction bill from the earthquake is expected to run into the tens of billions but may also help to stimulate some aspects of the economy - such as construction - with likely flow-on effects for the legal sector.

According to Darise Bennington, the managing editor of Lawyers Weekly's Auckland-based sister publication NZ Lawyer, the last couple of years have been quiet for the New Zealand recruitment market. An expected upturn mid-2010 never eventuated with lawyers preferring to stay in their current jobs and a significant number of lawyers returning from overseas.

However, Bennington says there has been some lift already in 2011 with a number of young lawyers seeking international opportunities overseas and leaving behind vacancies in the process. "The market is still fairly quiet and firms seem quite cautious in their recruiting. However, there does seem to be more growth in roles for lawyers at the two to three years' PQE level - which makes sense, as it is these lawyers who are now heading off on their overseas experiences."

The good: Close to home, similar culture, an absolutely beautiful place to live.

The bad: Close to home, similar culture, small market, less pay, may not be seen as "international experience" for future employers.

Realistic option? Not yet. Too many New Zealanders with excellent international experience are returning home.

Keep in touch with the latest legal news from New Zealand by visiting NZ Lawyer online at http://www.nzlawyermagazine.co.nz/

Click on the images below to discover the 2011 legal job hotspots for Australian lawyers: