September is just around the corner, and so our specialist recruitment teams have provided some valuable insights into the jobs market within the legal industry:
In this Summer Jobs Market Review we will be looking at an overview of the legal market in general, recent job announcements within the industry, the most frequent roles placed across the country, the highest paying roles our specialists have placed and the most desirable skills and qualifications sought after by legal hiring managers at the moment.
The legal employment market is increasingly being driven by the job seeker at the moment. There has been a substantial increase of opportunities in the market over the last year and this has meant that there is a decrease of qualified professionals actively seeking employment as many have just secured roles in recent months and might not be contemplating a move anytime soon.
Legal salaries have steadily increased and counter offers are becoming increasingly common, resulting in higher salaries all round. When professionals have a variety of options to choose from, various other factors come into play which affects their decision such as location which results in companies outside of the city centre losing out on a number of prospective employees.
Due to this fierce competition, companies are having to be more flexible in terms of their requirements and consider legal professionals with generally strong professional experience and transferable skills as opposed to a candidate who matches the job spec perfectly. In terms of hiring, the most active sectors were Technology, Asset/Wealth Management and Insurance.
There has been a progressive decrease in data protection hiring activity on the market, as many of the data protection professionals have secured roles recently. This shortage of active candidates has meant that the market has stabilized however those within these roles are compensated generously by their employers.
Most in demand roles by region:
With the market more stabilised now in the areas of data protection, the majority of the opportunities are again in the general corporate/commercial space, regardless of the industry.
In private practice, Corporate and Technology roles are always areas in high demand
There is a prevalence of demand for roles in technology in Cork, as opposed to Dublin where there are roles available in a variety of industries. As the number of qualified professionals for these roles is significantly smaller in this region, companies tend to be more open to applications with a more general background and profile.
Highest Paying Roles - our teams have placed
Skills and Qualifications
A strong transactional background with good drafting and negotiation skills is highly sought after by legal companies. In the financial services sector, an ability to advise on legal/regulatory issues such as MIFID II and the CBI rules is also often essential. Demand remains strong for professionals with commercial contract experience. Experience in corporate governance also remains one of the most desirable attributes for employers. In terms of senior appointments, with the influx of new businesses starting up in Ireland, there is a greater need for those with managerial skills and experience heading up legal departments on a larger scale.