'A generation gap has evolved' - the booming associate recruitment market in the aftermath of job cuts
The war for talent is on as transactional practices come up short following job cuts and freezes in the immediate post crisis years
December 01, 2015 at 08:51 PM
8 minute read
In the initial months post financial crisis it seemed barely a week passed without a law firm announcing job cuts. And at the bottom of the pecking order, associate ranks were inevitably among the heaviest hit. Alongside reduced trainee intakes, the number of jobs for junior lawyers took a dramatic dive in the immediate post-recession years.
But with the deal markets turned and transactional departments across the City once again busy, firms are on a mission to replenish their depleted associate stocks.
Legal Week's latest Big Question survey found over 80% of respondent firms were looking to grow their associate ranks, with much of the recruitment targeted at the more junior end of the market: almost 40% of respondents were aiming to grow at this level. In addition, over half (55%) of respondents said their firms were looking to increase, or had already increased, the number of trainees they employ.
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