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Will the party end in 2022? Not before it gets a whole lot louder

25 February 2022 / Seamus Hoar
Issue: 7968 / Categories: Features , Career focus , Profession
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Cash is king and lawyers are in demand, writes Seamus Hoar
  • Market expectations in 2022: salaries, jobs, office-working and culture.
  • What to expect when the market inevitably corrects.

Many of the top law firms have experienced serious increases in revenue over the course of the pandemic, as client demand has, arguably, been at its greatest over the past two years. In fact, according to MLA’s recent Global Law Firm Report, demand from clients is up 15-25%. As a result of this uptick, firms have been ferocious in their efforts to acquire both partners and teams. The pandemic has ultimately given rise to a near ‘perfect storm’, with appetite from firms, principally US, coupled with a lateral market at its most receptive to new opportunities. Ultimately, firms are paying more than they ever have for the top talent and cash is certainly still king.

As the market charges ahead, we can expect some stand-out factors to keep law firms up at night,

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Birketts—trainee cohort

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Brabners—Ben Lamb

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Real estate team in Yorkshire welcomes new partner

NEWS
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Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
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