find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
My next move: Is the start of a new financial year a hiring incentive in the legal market?

My next move: Is the start of a new financial year a hiring incentive in the legal market?

It’s still a cautious market and legal hiring this financial year will likely be influenced by a number of factors other than the financial-year cycle.

Law firms and in-house legal teams have typically organised their budgets for the new financial year and now have a clear strategy for future recruitment.

The new financial year is also typically a time when there is an influx of candidates in the legal market who are looking for a new role.

Candidates tend to look at this time of year because they might not be happy with their salary, bonus arrangement or career progression post-performance review. (As Lawyers Weekly has reported in earlier editions, certain employers have imposed a salary freeze this year.) We have also seen candidates whose increased workloads are taking their toll as team members have left and not been replaced.

Another factor that will influence business activity, and in turn legal hiring, is the federal election, but its anticipated that it will take some time after the election for there to be an upturn in transactional work (such as M&A and banking & finance). In the meantime, a number of firms have said that they are sitting tight or keeping steady, with a reduction in graduate intakes and flexible work policies being implemented to reduce or avoid potential redundancies.

While the large firms have been cutting numbers, mid-sized players have been more active on the hiring front.

There have been many notable top-tier partner movements to mid-sized firms.

The Australian legal market is also influenced by the international legal market and international economic activity generally. It is expected that local legal hiring will be encouraged when the international firms start hiring again.

Many of the global firms, as well as our large domestic firms, are rethinking their structure and making structural changes.

While it is anticipated that the market will remain conservative and there is unlikely to be a surge in legal hiring, employers will be looking to fill specific skill gaps in their teams (both in-house and private practice) and firms will continue to seek lawyers with a potential client base.

The legal hires that employers make this new financial year are expected to be extremely well-considered and strategic as they seek to maintain or improve their position in the market.


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

My next move: Is the start of a new financial year a hiring incentive in the legal market?
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...