Good news is in store for corporate and banking & finance lawyers as a new report reveals that the demand for such skills seems about to resurface in 2010, while lawyers under pressure looking after the workloads of departed staff may soon be offered relief.
The latest Hays Quarterly Report released today finds that opportunities in sectors such as banking & finance, property and insurance are on the increase, providing an opportune time for lawyers to finally make their moves.
It also finds that employers are keen to recruit to take advantage of the best talent already available on the market, while firms that faced cutbacks in 2009 are on the lookout for new recruits to cope with emerging "normal" workloads.
According to Carolyn Dickason, Hays Legal regional director, the increase for demand comes down to the vacancies that were left unfilled through 2009 as staff departed, combined with a resurgence in business confidence prompting employers to reassess their need to fill vacancies.
"For many employees, the last few months have meant coping with extra work and employers realise they risk losing those dedicated employees if they don't feel recognised, rewarded and, most of all, supported," Dickason said in a statement following the release of the report today.
The Hays report found that mid-tiers in particular are increasingly looking for senior staff in their corporate teams, while an increase in large transaction and syndicated lending is boosting banking & finance opportunities. The shifting property market is driving the need for property lawyers and lawyers in insurance are continuing to benefit from downturn-related insurance matters.
See the full report here