Wales - Legal Market Overview
As would be expected, Cardiff is home to the greatest number
of commercial firms with Swansea and Newport hosting a strong
contingent. Investment in the region continues apace, bringing with it
extensive regeneration and development, all of which signals good news
for local firms. But that isn’t to say that they only enjoy involvement
in locally derived work. On the contrary, the major players often play
a role in big national and international deals and pieces of litigation.
In
addition to offering mainstream areas of practice such as property,
corporate and employment work, the bigger firms are increasingly
boasting capability in more specialised areas of the law that have
traditionally been the preserve of their bigger London counterparts.
The recession that began in 2001 and the increased fluidity of niche
specialists leaving the capital in search of a greater work/life
balance have both contributed to this situation.
Legal salaries
The largest commercial firms continue to drive the salaries paid in the region, with the national / multi-office regional practices having to pay heed to their remuneration rates in their other offices when considering local pay scales. Due in part to these external factors, salaries in Wales measure up surprisingly well with other major legal centres in the UK. That said, expectations that they might leap upwards in the wake of the pay hikes doled out by the large London law firms last year have not been met.
For further information on the legal market and job opportunities in the South West contact:
Toria Walker
T: 020 7415 2828
E: toriawalker@taylorroot.com