Legal Insights – Q4 Mar 2024
What are we seeing in the market.
- As firms gear up for their financial year-end, they’re currently rolling up their sleeves to plan ahead. They’re taking a good look at where they can grow and considering if they need to beef up their teams where demand continues to be high. It’s all about finding those opportunities to push forward and make the next year a success.
- In the current legal market in Scotland, the bulk of available positions tend to require at least four years of post-qualification experience (PQE). Firms are placing a premium on experience, seeking seasoned professionals who can hit the ground running. Interestingly, there’s a strong inclination among these firms to hold onto their Newly Qualified solicitors, recognising their potential and investing in their growth within the organisation. It’s a landscape where expertise is valued, but nurturing talent from within remains a priority for many firms.
- In terms of prospects for Newly Qualified solicitors might appear somewhat limited, with fewer roles expected to filter into the market. However, this trend also suggests a positive outlook for retention rates, as employers show a strong inclination to retain and develop talent within their firms. I also believe that firms who are keen to retain Newly Qualified solicitors will have the chance to apply roles at one to three years of post-qualification experience (PQE), reflecting a strategic approach by firms to maintain a skilled and cohesive workforce.
- In the legal market, salary reviews are anticipated to rise, although not as steeply as in recent years. Expectations lean towards moderate increases, reflecting the sector’s cautious yet optimistic outlook amidst economic fluctuations.
- Demand for legal advice has surged within both international and national legal firms across the UK, driven by businesses keen on cost-saving measures. This trend has seen a notable shift towards collaboration with regional offices over their London counterparts. As businesses strive to streamline expenses, accessing legal expertise from regional hubs has become an attractive proposition, highlighting a strategic move towards more cost-effective solutions without compromising quality.
Job of the Month:
Personal Injury Solicitor – Glasgow or Edinburgh
We have fantastic opportunity for a Personal Injury – Solicitor to join this top tier firm in either their Edinburgh or Glasgow due to continued growth and expansion of this team.
Skills in demand:
- Real Estate, Corporate at senior levels, Construction both contentious and non-contentious, Energy, Commercial Litigation, Planning and Personal Injury are all areas that continue to be busy with opportunities at various levels.
Quotes of the month:
“The reality is that to succeed in law you have to put your nose to the grindstone for a good few years and watch, learn, develop and grow.”
Meet the Legal Team!
Our Legal recruitment team continues to grow! Want to know the best consultant to fill your vacancy or who to contact about your next move?