Legal Job Market in London
In order to ascertain what the current state of play is in relation to the legal job market in London, you first need to know where to look. We have identified a number of key employment and wage statistics from which you can identify what the key trends may be in the legal sector in London:
Current demand for legal professionals is forecast to be 3.5% higher in 2020 as compared to the previous 5 years. There were an estimated 146,000 direct legal jobs in the UK in 2019. London typically has 12% of those jobs, with a forecast 3.3% growth expected in 2020 . The UK sees an estimated growth in legal jobs to actually be higher than the previous forecast of between 2% and 4% between 2016 and 2020. Supervisory, administrative and support roles are expected to increase by 8.5% by 2024. The slowdown in demand for partnership lawyers is forecast to continue until 2022 where it will increase to 7.4%. Demand for lawyers in London is forecast to increase by 19.6% until 2026 with 5,841 legal professionals in London predicted to be hired in 2022 alone.
Black and Minority Ethnic groups earning between £46,500 and £52,000 were found to earn 11% less than their eraite counterparts in the US legal profession in 2016.
Different Types of Legal Jobs
Legal jobs in London come in many different forms to suit the personalities of each lawyer as well as the demands of a relevant field. Some of the many options include solicitors, barristers, legal advisors, paralegals, and in-house counsel. Solicitors are highly trained lawyers who act for clients in a range of legal matters both financial and personal. Their typical clients include individuals, companies, and government bodies. The solicitor’s role is to advise clients, represent them at court, draft legal documents and give information on the law. Solicitors can carry out conveyancing and wills, and can also represent their clients in criminal, family, and civil matters. Some solicitors specialise in areas such as environment, competition, entertainment, immigration, intellectual property, tax, anti-bribery, data protection or other areas of law. Barristers represent people and companies in court. They also offer their opinion on the case and negotiate settlements. Barristers tend to specialise in one or two areas of law. (In America, what is not considered a "solicitor" is often called a "lawyer". And, necessarily, lawyers do counsel and advise their clients too!) Legal Counsellors are legal experts offering advice and guidance on a variety of business issues. These professionals advise clients regarding either legal matters and/or provide legal advice to those working in the country or overseas for an various organisation. Their job is to assist organisations with B2B sales, lead generation, and customer relationship management. Paralegals help solicitors with all manners of law. They go by several other names such as legal assistants, legal secretaries, paralegals, or law clerks. They work within a variety of fields from commercial and business to international and human rights and they are hired when the organisation needs legal support for research, representation, drafting legal documents, or meeting with a client. To ease your path as a paralegal, there are a few courses available to you. There are many training courses available from various organizations. It usually takes about three months to earn your paralegal certificate. Relatively new to the game, In-house Counsel work directly for a company rather than a private practice. They work with the company’s executives to ensure that their business practices are legal and that the company is in compliance with any and every regulatory agency. As an in-house lawyer, you might have to attend meetings with key personnel and make appearances at present board members and shareholders regarding the future of the company and any investment deals. It’s your responsibility to keep representations of the company within the limits of the law.
Necessary Qualifications and Skills
As with any profession, certain qualifications and skills can increase employability for legal positions in London. For the majority of roles, it is likely that employers will expect applicants to have completed a degree. While not essential, a law degree can be highly beneficial during the application process.
It may also be desirable for those wishing to secure a legal job in London to have completed recognised training. Traditionally, this training would consist of a Graduate Diploma in Law (GDL) followed by a Legal Practice Course (LPC) for those wishing to pursue a career in the city as a solicitor. Those wishing to become barristers would typically complete a Bar Practice Course (BPC). Over the past few years, however, many leading law schools have introduced their own integrated courses for budding legal professionals. Although these courses are often significantly more expensive, they can fast-track students to becoming a qualified solicitor or barrister.
Those looking to work in the legal sector in London will need to pass appropriate licensing exams, although the path for solicitors and barristers is a little different.
In order to become a solicitor, it is now compulsory to complete a recognised period of qualifying work experience in order to gain a licence to practice. Traditionally this would have been fulfilled by a two year training contract with a law firm. However, as a wider variety of firms now offer training contracts, there is arguably more opportunity to secure this qualification through a period of qualifying work experience.
While it is not a requirement to complete a specific period of training in order to become a barrister, those wishing to train as a barrister must successfully complete Bar School. This consists of postgraduate training either on top of, or instead of, the one-year BPC or LPC.
A number of useful skills can benefit those seeking a legal job in London. Many of these will be developed during academic studies or training, but it is possible for them to be honed and developed in other ways. First and foremost, individuals should be articulate, self-assured communicators. Teamworking is also essential, as is the ability to conduct thorough research and present findings in a clear, concise way.
Top Law Firms and Employers
On the other hand, as one of the world’s leading financial centers, London is a belle of the ball in the legal world. The most prestigious law firms in the UK are headquartered within the city limits, including Clifford Chance, Slaughter and May, Freshfields Bruckhaus Deringer, Linklaters, and Allen & Overy. These giants of the legal industry are some of the most sought after employers for law students who have recently graduated from colleges within the UK or abroad, and are regularly ranked at the very top of lists for prestige.
Aside from the largest law firms, however, there are also a number of in-house opportunities that are worth investigating. In addition to conventional employers like HMRC, the British Government, and the British Transport Police, there are many large companies that hire legal professionals on a regular basis in London. These employers include British Petroleum, Royal Bank of Scotland, Barclays, Lloyds Banking Group, the Bank of England, Aviva, Standard Chartered Bank, Legal & General, Capital One, Vodafone, British Airways, Airbus, Vodafone, and Rolls Royce. There is also a growing need for legal professionals throughout London on a purely contract basis, claiming well over 4,000 registered temporary legal jobs in London. Many roles require the ability to work in IP and IT, although a number of other open contract jobs are available.
Salary and Benefits Packages
The salary expectations and benefits for those working in the legal sector in London can differ greatly, but the general trend is that they have significantly increased over the past few years. Lawyers also have significant earning power compared to average UK workers. The increase of salaries is in line with the cost of living in London, which presents huge challenges for those just starting in the law sector.
In London, paralegals earn a salary ranging from £19,000 per year up to as much as £30,000 at the higher end of the market. Trainee solicitors start on salaries of £23,000, increasing to £28,000 per year. Articled clerks can expect to earn around £25,000 to £30,000.
For newly qualified solicitors, the starting salaries range from £39,000 to £45,000. From mid-level solicitor up to a partner, the salaries can range from £60,000 to over a million pounds at the very highest end of the range . Senior associates can earn anything between £100,000 to £150,000 depending on the firm and their earnings as a percentage of profit shares.
Salaries for solicitors in overseas law firms based in London vary greatly depending on the location of the parent firm. For instance, US law firms can pay starting salaries of £73,000 for newly qualified solicitors. City firms generally pay more than high street firms, which in turn pay more than boutique firms.
Depending on the type of firm, there are many additional benefits that may be offered to employees. In addition to pensions, annual leave and bonuses, many firms offer perks such as health insurance, private medical cover, membership to professional associations – such as The Law Society or the Bar – financial assistance with studying and funding for staff room facilities. Some regardless of size even pay for gym memberships or offer discounts on spa services.
Networking and Professional Growth
The legal job market in London is highly competitive, making it essential for legal professionals to be proactive in their career development. Networking is a fundamental aspect of building a successful legal career, providing valuable opportunities to connect with peers, industry leaders, and potential employers.
One of the key strategies for career advancement in the legal field is becoming part of professional networks and associations. These organizations offer access to resources, training, and support that can enhance your skills and keep you informed of industry trends. Joining local law societies or professional organizations in your area of expertise can help you gain visibility and credibility within your professional community.
In addition to formal networking opportunities, attending legal events such as seminars, workshops, and conferences is an excellent way to meet other professionals in the field and learn about new developments in your area. Many of these events also offer opportunities for continuing education and professional development, making them a valuable resource for any legal professional looking to advance their career.
Another effective networking strategy is to leverage your existing connections to help you find job opportunities. Many law firms and legal departments prefer to hire candidates who have been recommended by someone within their network. Therefore, it is essential to maintain relationships with colleagues, alumni, and other contacts in the legal field to maximize your chances of landing a new position.
In conclusion, networking is a crucial component of professional growth in the legal sector in London. By joining professional networks, attending legal events, and building on existing connections, legal professionals can expand their knowledge, skills, and opportunities for advancement.
The Job Search Process
The legal job market in London is exceptionally competitive, making it crucial to use the right approach when searching and applying for legal jobs. In addition to general job boards that list an array of opportunities across a wide range of sectors, it is important for candidates to access industry-specific resources to stand out in the crowded field of applicants. Some of the best sources for legal jobs in London include the following: Recruitment Agencies Recruitment agencies are a good way to find potential job openings from employers who have hired through the agency in the past. Agencies that focus specifically on legal positions are particularly helpful, as they have relationships with many employers and can often provide you with private search opportunities offered only to them. There are dozens of recruitment agencies in London that focus exclusively on legal employment, including Lateral, Attorney General and Errington Legal. Large recruitment firms such as Hays, Bright Network and Longbridge are also worth checking out, as well as some smaller niche agencies like Larbey Evans Focused Legal Recruitment. Online Legal Job Boards Online legal job boards offer a broad range of postings throughout London. These boards should be used to complement other strategies used in the job search, providing an extensive overview of existing opportunities and daily updates. The following legal job boards are regularly updated and list legal jobs throughout London: During your job search, it may be beneficial to research the companies for which you would like to work and check their websites directly for any vacancies. Being able to describe why you want to work specifically for a certain firm in the cover letter could make a difference in a tight job market. Even if a company does not have an open position posted, it may be worth sending a speculative application demonstrating who you are and why you would want to work there. Similarly, expanding your search parameters to other areas within the legal field may produce unexpected results. Although this may mean considering more senior or junior positions, or jobs that require moving out of your desired practice area, being flexible and keeping an open mind about potential opportunities could give you a leg up on the competition.
Challenges and Possibilities
Like other major legal cities around the world, London faces challenges. Here, lawyers are operating in a climate of price sensitivity (and downwards pressure on pay), dealing with increasing competition and a status quo where massive international law firms have always dominated. So what are the solutions? Well, like anywhere else, lawyers need to be more confident in showing their value-add to clients. They need to embrace new technology not just in terms of one-off projects but as part of a strategic journey that brings them global strength . Areas such as legal project management, embedded innovation and analytics are great example where lawyers (and the wider profession) have much room for growth – and where they can make a significant impact to their organisations. All over London, legal professionals are assessing their own skills and career pathways and many are finding ways to grow. London offers a wealth of cutting-edge opportunities that will help legal professionals achieve their goals, not only in terms of career progression but through professional development. The sector is buzzing with innovation and change, from the success of start-ups like BPP Law School and the rise of the unbundled legal services sector, to developments in project management and artificial intelligence.