Too few lawyers in London, too many in Hong Kong: firms face recruitment woe

International law firms are facing a variety of recruitment and staffing problems across the world, with practices having to freeze staff levels in Hong Kong, according to a survey of global legal recruitment.The survey by recruitment consultancy Robert Walters found that in London, firms across the board have continued to grow at a reasonable pace, and there is still a shortage of good-quality corporate, finance, banking and tax lawyers.'Commercial property and litigation have also been quite buoyant, although with litigation, due to the increasing number of candidates looking for litigation as against the few roles in comparison, competition is great.

Firms are reserving their litigation positions for the best.'Supporting the findings of a survey by Michael Page last month (see [2001] Gazette, 25 October, 1), Robert Walters reported that its clients are increasingly turning to both English and foreign-qualified contract solicitors to fill the gap left when a position remains unfilled.

Salary levels rose throughout the previous year - quite radically in some cases - while scaled bonus schemes and a more generous holiday entitlement were said to be increasingly popular.The past 12 months in Hong Kong have witnessed a significant change in the legal recruitment market, the survey found.

While 2000 was a strong year for corporate work, the US economic downturn has resulted in 'a general stagnancy in both the investment banking world and the international law firms.

Most firms have announced headcount freezes and many are now over-staffed with corporate and banking lawyers'.However, the situation is brighter in Singapore, thanks to the commencement of joint ventures between a restricted number of international - mainly City-based - and local law firms, and establishment of formal alliances between other local and international firms.Robert Walters said: 'There are indications that the joint ventures and formal alliances will cause a gradual shift upwards in the salaries of certain local lawyers.'International firms have raised their salaries in response to the shifts in London and the US earlier this year but there is still a range of salary levels within the market, notably with US law firms putting pressure on the upper limits of the range.'The survey said a two-year qualified lawyer in London can expect 47-65,000, in Hong Kong 78-87,000, and in Singapore 56-69,000.

Some US firms in Singapore are offering two-year qualifieds salaries from 100,000.Neil Rose