Spring Market Update

Since our last update (December ’24), the recruitment market has remained relatively at the same pace as before. Core areas continue to get busier and law firm financial results are, on the whole, pretty positive. There is some geopolitical turbulence that has the potential to affect the market over the next few months however, we expect the next quarter to remain relatively busy.

In-Demand Practice Areas/Levels in London

We have seen an increase in the demand of private equity focused lawyers and leveraged finance has remained very strong.

The common theme that we get from clients (UK and US firms) is that there is a huge demand for quality mid-level associates (3-5PQE), especially in corporate. One of the main factors behind this is that during Covid, many firms were not taking on NQs in corporate as there was no demand and they could be utilised elsewhere. Combine this, with associates moving at the mid-level, whether that be to another firm, in-house, internationally or leaving the law creates this gap which combined with increased deal activity has created this need.

As such, if you are a corporate lawyer around this level currently, it is a great time to be looking out into the market and there should be plenty of options

London Salaries

Following positive financial results from a number of firms, we are starting to see an increase in salaries, especially with top-tier UK firms and silver circle firms. Generally, we are seeing the NQ rates at £110-£145k with these firms. Although we haven’t seen a reaction from the magic circle firms, they may get a little uncomfortable with the silver circle getting closer to them with salaries and react.

Moving from Australia/New Zealand to London & Dublin

As the market continues to get busier, the demand for overseas qualified lawyers will naturally increase. We are still struggling with a number of US firms who are focusing more on E&W qualified or Irish qualified lawyers. The exception to this again, is at the mid-level (5PAE+) where demand is very high.

The demand for Australian lawyers in Dublin remains stronger than ever. This is primarily across corporate and finance however associates have moved across a range of practice areas. Dublin can offer an improved w/l balance than London but can also be an easier springboard to London than one may find being in Australia/New Zealand.

Moving from Australia/Ireland to New York

I have recently returned from New York where I met with a number of clients and potential clients who have hired Australians in the past and the overall view is that the interest in Australian lawyers is increasing.

There is some apprehension regarding the new presidency which seems to be inconsistent with visa arrangements and what this might mean in the future. Although the Australian & US relationship has started off as rocky as other nations, the trading relationship between the US and Australia looks strong enough to withstand any headwinds.

The E-3 Visa, which is available to Australians, has long been spoken of from an Irish perspective and there has been an assumption that eventually, this would become available to Irish nationals. This was especially true last year when two bills were brought to Congress.

Under the current US administration, this now seems extremely unlikely. It’s no secret that Ireland’s relationship with the US has recently been quite strained and the governments on either side of The Atlantic have very different views when it comes to foreign policy.

Globetrotters

We have been getting the air miles in recently and will be travelling to all corners of the globe across 2025. Over the next few months, we will be in:

• Edinburgh – March 18th

• Glasgow – March 19th

• Manchester – March 20th

• Leeds – March 21st

• Brussels – May 14th

• Amsterdam – May 15th

• Singapore – July 15th & 16th

• Melbourne – July 28th & 29th

• Brisbane – July 31st & August 1st

• Sydney – August 4th – 6th

Get in touch if you would like to set up a coffee when we’re in town.