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The Banking and Corporate legal market place is the place to be in 2015!

Posted by: Laurence Simons 17/02/15

Legal vacancies for the banking and corporate industries have increased and make up approximately 14-36% of all legal vacancies in London at any given time according to Business Intelligence company Vacancysoft. This was the trend in 2014 and it seems to be continuing in 2015 with high figures in January. While May 2014 saw the peak for banking and corporate roles (35% of all legal roles), November wasn’t far behind with almost a quarter (24%) of legal vacancies coming from Banking or Commercial.

Here at Laurence Simons, we noticed remuneration levels remained similar between 2014 and 2013 as companies rewarded and retained their best staff through bonus payments. There was a mixed picture across the sector as some companies were able to pay greater bonuses than others. We anticipate this trend to continue in 2015, leading to a relatively strong pool of senior investment banking legal talent open to a move.

Additional data from vacancysoft reveals that firms are clearly hiring at the junior end of the market with a quarter of all 0-2 PQE roles being in the Banking and Corporate industries. Only 14% of all 5-8 PQE roles were for Banking Lawyers, which could suggest companies are rewarding their most senior staff to retain their services.

While we can only predictions certain things, one thing is for sure the banking and corporate sector is on the up and 2015 looks certain to be an interesting year for this industry.