This biannual market review is brought to you by the international team at Origin Legal and shares sector updates, valuable insights and more.
Let’s face it, 2022 didn’t deliver a surfeit of good news, did it? Post-pandemic, it is scarcely believable that things could get worse, but they certainly had a go.
Despite everything, the demand for good lawyers remained incredibly robust. Hiring in 2022 was more competitive than at any point since the financial crisis, creating a candidate-driven market with an abundance of vacancies (you may have gathered this from the tidal waves of LinkedIn messages you have been receiving!). As always, competition pushed up salaries and despite the often-heard belief that these increases are unsustainable, Equity Partners in the top firms seem to be getting by.
So how is 2023 shaping up? So far, so good. The frenzy of early 2022 has eased but there remains a very healthy flow of new jobs across our core markets, and our clients are notably positive about their plans for this year. Despite the challenges facing the global economy over recent months, law firms have remained fully engaged in the ongoing competition for talent, and as a result, the signs are good for any lawyer considering a career move this year.