Job economics

There has been a rise in the number of senior-level candidates—partner- and associate-level—on the job market, due to firms cutting back on high-salary staff, according to recruitment firm Badenoch & Clark.

However, litigation lawyers continue to be in demand as the recession continues to fuel disputes.

Sole practitioners are increasingly turning to locum work as a result of the higher cost of professional indemnity insurance.

NHS foundation trusts are still favouring in-house legal staff rather than outsourcing the work at a greater cost.

Financial services companies have hit the brakes on legal hires, other than business-critical staff, as they wait for the European debt crisis to show more solid signs of resolving itself.

Meanwhile, an increasing number of private-practice lawyers are considering moving to in-house financial services roles.

However, Duncan Ward, legal operations director at Badenoch & Clark, says: “Most are proceeding with caution, undertaking greater due diligence as there are still downsizing and redundancies happening in major investment banks.”