In the legal job market new private practice roles are being created due to an influx of project work. The banking, finance, property and construction sectors are still very busy across all levels.
Law firms are hiring on a permanent basis due to a higher volume of transactional work. Boutique and mid-tier firms are looking for Partners with an established client base to come on board.
The temporary recruitment market has slowed down in the Government sector as we wait for the newly elected state government to bed down their new policies, projects and budgets.
Top tier and mid-tier firms are looking at sponsoring Banking & Finance and Corporate M&A Lawyers from overseas for roles that are difficult to fill in the local market.
Lawyers increasingly need to be well rounded with great technical skills and the ability to develop business and build relationships. Firms are keen to secure this talent in order to maintain client relationships and build new ones in the competitive legal market place.
The market is seeing an influx of senior candidates who are at the Senior Legal Counsel or General Counsel level due to redundancies from commercial businesses. We are also seeing a large amount of junior candidates and graduates who are unable to find a foot in the door.
In terms of skills in demand for the April – June 2015 quarter, we’re seeing a high demand Banking & Finance Lawyers due to the lack of qualified people specialising in this area. The skills shortage has come about as a result of there not being enough work for graduates to become qualified. Transactional and project finance experience are required to help strategically advise on complex transactional matters within banking and finance teams. Candidates are sought for both private practice and in-house roles, especially those with capital markets experience.
Employers are looking for Property Lawyers with broad commercial property experience due to the increased activity in the property market. Candidates with both residential and commercial experience are in demand at the three to five year post admission level.
Demand remains high for Construction Lawyers with good experience at PAE level for both front and back end roles. Those with transactional, projects and PPP (public private partnerships) experience at the three to five year post admission level are in particular demand.
Corporate M&A Lawyers are also sought after due to the large amount of transactions and deals taking place. . Mid-level Transactional Lawyers are in demand as firms are looking to bolster their teams with professionals who can deal with the large amount of administrative work.
In terms of candidate trends, employees are seeking out professional development opportunities that will allow them to show an employer they are committed to furthering their careers. They are keen to look at firms and organisations that offer career progression and work/life balance.