As was the case in 2016 demand continues to outstrip supply quite dramatically at the 4 – 7 year PQE level. Businesses are constantly seeking talent at this level as candidates bring a solid foundation of skills but still have room for growth and development and the cost of hiring at this level is much less than that at the senior level.
Over the past 12 months there has been a consistent demand for lawyers at the mid-level across a broad range of sectors including IT/IP, Construction, Property and Commercial. We expect this trend to continue over the next 12 months (and beyond) as graduate intake numbers remain relatively low compared to pre GFC levels and overseas markets such as the UK and Asia have maintained a steady interest in securing Australian lawyers to plug gaps in their local markets.
The senior market has remained relatively flat with an oversupply of qualified candidates at this level competing for a small number of opportunities. We expect that it will remain challenging for senior lawyers to secure a position at an appropriate level both from a skills and salary perspective.
If you would like a copy of this guide or any information on the Australian In-house Legal, Commerce & Industry sector, please contact our team.