Hello and welcome to the August in-house legal job market update.
We’re seeing a number of trends at the moment. One is lawyers with less than 10 years experience are very reluctant to move, which is creating a huge lawyer shortage in that sector of the market.
Organizations are finding it very difficult to attract candidates. This lack of candidates at that level is being exacerbated by reluctance of private practice lawyers to move in house. Typically, we see swathes of lawyers at the three, four or five and six year level looking to move in-house. This is just not occurring at the moment. That could be just because of the recent lockdowns and the uncertainty regarding the market.
We’ve also seen salary increases of around 10% right across the in-house legal market this year. Suspect it is due to make up for lack of salary increases last year.
There’s also been recent talk about the great resignation of those people looking to move jobs that have been unwilling or unable to make the move over the past 15 months. That started to occur before the recent lockdowns. We expect the recent lockdowns has put that on pause for the moment, but that pent up demand will be released as the vaccine roll out gets greater traction. So towards the end of the year, I expect that the job market will be exceptionally fluid.
For those of you in lockdown, take care and stay safe and speak again shortly.
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