News

How Risk Minimisation is Slowing Your Career

When it comes to decision-making about their own careers, many lawyers take the “safe” short-term option over the best long-term commercial option. This makes sense to them for a number of reasons. Firstly, lawyers are trained to identify problems and be risk averse from the very start of their careers. Secondly, many lawyers don’t have the confidence to make commercial decisions. It is not something that lawyers have to do often in the course of their careers, and it is not something that is a requisite skill in being a lawyer, particularly in the private practice world.

The reality is as follows: very few employees in any industry understand the relationship between risk and reward in their careers, let alone those in a conservative profession like law. This lack of insight manifests itself in a number of different ways – taking longer to make partner, letting employers off the hook during reviews, and generally giving law firms significantly more strength when it comes to bargaining.

For example, at EA International we are forever speaking to people who would not contemplate a small step back in financials in the short-term for significantly more reward in the long-term. Even for coveted in-house jobs where “supply” far outweighs “demand”, people aren’t willing to take that step to get their foot in the door and succeed in the long-term in an in-house environment.

The act of passing up invaluable opportunities in the overseas market is also a prime example of risk minimisation at play. The Australian dollar is relatively high and we are currently seeing large numbers of Australian lawyers doing a straight conversion of the Australian dollar to other currencies. They are then looking at prospective salaries and taking that converted result to mean that they will be ahead or behind of their peers without taking into account things like the real cost of living in both jurisdictions. This is a demonstration of lawyers being focused on the small picture and short-term. The benefit of moving overseas is invaluable – both professionally and personally – and a chance to accelerate your career in an exciting and different jurisdiction. On return, you have more leverage than your peers and the opportunity to move up through the ranks quickly!

Ultimately, risk-averse, black letter lawyers are not the ones who progress the quickest. It is the lawyers who are most engaging, commercially-minded and willing to effectively ‘build’ their own business who create a business case and reach partnership first on that basis. These are the lawyers who ask for what they want come review time, who take the step overseas to get priceless experience and who make the lateral move to accelerate their progression rather than getting stuck in the bottleneck in their current firm.

There will always be times when pure financials don’t reflect the real value of the opportunity in the market. In the commercial world, being able to see long-term benefits is an extremely important skill that will allow you to maximise potential in your career.

To speak to a consultant about how to maximise your career through international relocation, lateral moves or in-house transitions, send us an email at ea@ea-int.com or give us a call on 9266 2900.

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At EA International, we see many lawyers looking to exit the law altogether. Many of them rightly see an in-house role as a stepping stone to a commercial or management role.

The perception and the reality of making such a transition are slightly different. If a commercial non-legal role is your ultimate goal, the transition has to be performed cleverly.

When making the move to an in-house legal team, it is important to be careful not to overplay the fact that a non-legal commercial role is the ultimate goal. First and foremost the company is looking for a lawyer to undertake their legal functions. Often in an interview for an in-house role, a candidate will suggest that they’re not really interested in the legal aspect of the role and instead prefer the commercial side. This approach will usually result in the candidate not being offered either role. It is important to recognise that, primarily, the company are looking to recruit an individual with legal skills - if they wanted to recruit for a non-legal commercial role they would have done so.

It should be further recognised that you may have to fulfil the legal role, learn the industry, up-skill and gain the trust of the business before shifting to more commercially-oriented responsibilities within the company. This may take time, but it will present you with an edge over competitors. When considering an existing employee for a commercial role, the company will take institutional knowledge of the business and past performance into account, allowing for an easier transition. This learning period will also allow time to fully appraise a non-legal commercial role and decide whether it is something you wish to pursue.

When looking to make the move it is important to target those companies that have a history of flexibility in allowing for movement between legal and commercial sectors – those with a more open path for prospective candidates to transition their skills. Some companies will offer secondments to commercial areas of the business and this is a good way to determine if such a role is going to be right fit. When seeking these roles, research what function, duties and skills are required and talk to people in similar positions to get an idea about what competencies are needed and what their experiences are like overall.

If you are considering making such a transition, call our Senior In-House Consultant, Andrew Murdoch, on +61 2 9266 2909 for a confidential discussion about your career.

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International Post-Qualification Differences Explained

We are often asked by Australian and New Zealand lawyers why their experience is discounted by international firms in various overseas jurisdictions, particularly those whose salary lockstep is based on the England and Wales qualification process. The table below outlines the training and qualification dates of UK lawyers compared to Australian and New Zealand lawyers.

Essentially, admission requirements are far more stringent and time-consuming in the UK than they are in Australia and New Zealand. UK lawyers do two full years of training across four different areas of practice – basically working as graduate lawyers for a full two years – before becoming “Newly Qualified”. They are then considered a NQ lawyer for another twelve months before getting to the one PQE level by UK standards.

In comparison, an Australian lawyer will get to the one year level after working as a graduate lawyer for 6 to 12 months depending on their admission timetable. So, after having worked for five years, an Australian or New Zealand lawyer will have about four years of post-qualification experience, but a UK lawyer will only have two. There is a basic reason why international firms apply an equivalency level between 18 and 24 months – to bring parity between locally qualified lawyers and overseas laterals.

Lawyers should appreciate there is nothing punitive about the discounting process. It merely reflects the significantly greater experience UK lawyers get before the "NQ" level in, what is usually, a far larger and more internationally focused market where lawyers work on bigger and more complex matters from day one.

As the middle of the year rushes closer, law firms are gearing up for performance reviews. In the current economic climate, the review period of 2012 will be an interesting one.

What to expect in 2012?

As a lawyer, performance reviews present the opportunity to discuss salary, workflow and in some cases, progression. Heading into a review, it is important to do your homework. Have a look at salary guides and market updates and inform yourself about the level of remuneration you should be receiving. EA International has salary bands listed within our local City Guides which should assist.

With the economy as it is, however, it is important to be realistic. While EA International does not expect salary freezes, expect any uplifts to be on the cautious side this year. For those looking for more financial reward, don’t despair! Firms in the Australian and New Zealand legal space are increasingly looking to bonuses as the preferred method to reward performance.

What if you don’t get what want?

If you are unhappy after your performance review, it is important to be proactive. Having taken on board the feedback from supervising partners, seek advice on where you stand in the market. Our local private practice consultant, Shaaron Dalton, will be happy to advise you on what you should be receiving for your level, alternatives in the market and any growth in your area of expertise.

Progression

One of the main concerns raised at this time of year is progression rates. There is a genuine feeling in the market that people are not progressing as fast as they had expected. The fact is, primarily as a result of the GFC, partnership tracks are no longer assured for high quality lawyers in large firms and bottlenecks are popping up in an increasing number of practice groups.

For those who have their eyes on the partnership track however, it is not all bad news. Positioning yourself early in a firm that is not as top heavy and has fast-track partnership options is a recommended option for mid level lawyers and junior Senior Associates. For lawyers in the top-tier, a common misconception is that if their firm is top heavy, all other top tier firms must be as well. This isn’t necessarily the case, and it is important to remember that bottlenecks often occur in specific groups within a firm, meaning that such problems are not universal.

In addition, within specific practice areas, new entrants to the market or boutique or mid-tier firms can have brilliant partnership opportunities while still providing top-tier level work. It is an often over-looked fact that some mid-tier and boutique groups operate in the high end of the market with prominent client and attendant financial rewards. When the top six view a mid/boutique firm as competition, you’re on the money!

If you would like to discuss your upcoming review or long-term career with Shaaron Dalton, give her a call on +61 2 9266 2901 for a confidential discussion.

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Recruitment within construction/infrastructure in-house teams has been subdued over the past six months. This, however, belies the activity within these teams. Most in-house teams are being pushed to their limits as companies expect more for less – and this isn’t a situation restricted to the construction industry! Competition between companies to win work is fierce and turnaround times for tenders are tight.

Most of the construction/infrastructure teams are seeking approval for an increased head count to meet the greater demands placed on their teams. However, management continues to cite ‘market uncertainty’ to justify postponing recruitment. The exception to this has been in Western Australia and Queensland where in-house legal teams have been beefed up, particularly with project lawyers to work specifically on large gas projects.

As in-house teams are being stretched, companies have been forced to send work externally, and as a result, private practice construction teams are busy. At EA International, we expect the situation to shortly reach a tipping point where there will be sufficient ‘market certainty’ together with external legal cost pressures and large state infrastructure projects (North-West Rail Link/Port Botany etc) that will push in-house legal teams – and management – to recruit. When this happens there will be a rush for talented construction lawyers.

For further information on the in-house market please feel free to contact Andrew Murdoch on (02) 9266 2900.

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The news of the week in the Australian legal market was the announcement of a formal alliance between international law firm Linklaters and Allens Arthur Robinson. The firms have agreed on a formalized alliance arrangement rather than a full-blown merger that will see both firms leverage off each other’s global and Australian presences, respectively. The firms will remain as separate businesses but have an official referral process that will no doubt see increased services and capabilities for their respective clients. From a branding point of view, the Linklaters will retain their current name and brand, while Allens will make the minor adjustment of removing the “Arthur Robinson” from their present name.

For Linklaters, the alliance gives them a platform within the Australian market without having to open an office through a full merger, takeover or start up. They will become the next of the elite UK firms to gain ground in the Australian market hot on the heels of Clifford Chance, Allen & Overy and Ashurst. For Allens it gives them a genuinely international network of lawyers and services which they can now offer clients internally. By association, the alliance also gives them greater global exposure.

It’s a novel model; a middleground between opening an independent office and formally merging – routes that have been undertaken by UK and US firms in the past two years in opening offices in Sydney and Perth. No doubt the arrangement will give both Linklaters and Allens more flexibility to grow in market relationships that have shown potential, without the complex and costly commitment of a comprehensive merger (trickier still when both firms hold such a dominant position within their respective markets).

Given this decision to form an alliance over a merger, there will no doubt be questions amongst each firms’ associate-level fee earners as to what it all means from a practical point of view (in terms of the their current position within their firm and prospective international moves that they may be considering). This will be particularly relevant for Australian lawyers who may view the alliance as an offer to pursue an overseas career. Will it result in an internal move for Allens lawyers or will it remain a lateral move to a competitor? Will the arrangement be formalized with two secondment programmes in place? How closely and cooperatively will the firms work to give their lawyers these opportunities if they want them? All are valid questions. No doubt there will be sensitivities in some cases where, for example, an Australian lawyer at Allens wishes to apply for a position with Linklaters in one of their overseas offices. From a recruitment point of view, confidentiality always plays a part in the process as does the fact that partners don’t like to let their best people go. So how will such a process be managed on a case-by-case basis?

As with all lateral moves, lawyers should remember that they will still be effectively moving to a new firm or employer, albeit one they perhaps know better than they did before and the process may well become more streamlined with arrangements in place for secondments and other methods or sharing the talent pool. Again – in this context – confidentiality becomes more important than ever. Managing at arm’s length will always be the best way to approach things to ensure the right move is made and all suitable opportunities are explored.

If you would like to know more about how this situation will impact on your international career, contact one of our international consultants on +61 2 9266 2900 or email ea@ea-int.com.

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LONDON – DUBAI – TOKYO – PARIS – MOSCOW – FRANKFURT

The demand for finance lawyers in London and Europe has ebbed and flowed over the past nine months. After a solid beginning in 2011, we saw many of our international clients turn the taps off due to the continued difficulties faced by European economies as well as a tough lending climate. For the elite Australian and New Zealand finance lawyers looking to take their careers to the international level, there haven’t been a lot of options. But things are starting to change; for those with 3 to 6 years of experience in general lending, corporate finance, project finance or leverage and acquisition finance, there are a number of firms looking to hire.

We presently have number of international firm clients looking to recruit associates into their general lending teams in London and other global offices. We are interested in speaking with top tier lawyers with general banking or corporate finance experience, leverage and acquisition finance, asset finance, project finance and structured finance and securitisation experience. Lawyers with between 2 and 6 years of post admission experience and an interest in relocating within the next 6 to 12 months should give us a call to run through the range of options on offer in various locations around the world.

We are also managing a number of opportunities with leading US teams in London, again looking for finance generalists or those with debt capital markets experience. These are rare but lucrative opportunities for the right lawyer looking to make a move to London.

For more information or a confidential discussion please call one of our international experts on +61 2 9266 2900 or email ea@ea-int.com.

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A reminder to all those who have expressed interest in meeting the Linklaters’ partners in the coming weeks to get your CVs through to us as soon as possible. The timetable is filling up quickly!

EA International is currently managing a litigation/arbitration campaign for global law firm Linklaters. The global litigation and arbitration practice works with the highest-profile clients on their most complex, high-value and reputation-threatening matters. The team works seamlessly across jurisdictions and practice areas. Our client offers intellectually stimulating and rewarding work in an open, team-orientated and meritocratic environment that is already home to a sizeable community of Antipodean lawyers.

We are looking for top-flight litigation and arbitration lawyers to join their highly successful team in London. We are seeking interest from quality litigators, both junior and more senior, with experience of all types of high-value commercial dispute resolution. We are particularly keen to meet with lawyers with a background in financial services litigation, contentious regulatory and competition work, restructuring and insolvency disputes as well as white collar crime matters. Partners from the London litigation group will be in Australia and New Zealand for face-to-face meetings and interviews at the end of April.

To arrange a meeting, or simply find out more, contact Michael Bromley or Maciek Motylinski on +61 2 9266 2900 or at ea@ea-int.com.

Having wrapped up the first quarter of 2012, it is time to look and see where the opportunities lie for those wishing to make a move into the in-house legal market.

In Perth and Brisbane, the market is continuing to thrive with the resource boom still underway. Industries such as mining, construction and infrastructure are all obviously busy, but the knock on effect extends outwards to include companies servicing the boom such as transportation or service companies, amongst others.

In Melbourne and Sydney the market is steady, predominately in the IP and technology related sectors. There are, however, certain industries that are suffering, with retail and associated industries down due to the much documented decline in the profitability of the leading retailers. Also well-publicised has been the shedding of jobs at the big four banks, with the reality being that lawyers looking for an in-house role in banking and finance are likely to have difficulty in the current market.

The irony of the downturn in certain industries is that in-house teams across the board are extremely busy. However, with persisting concerns surrounding market volatility, in-house legal teams, particularly in international companies with offshore head offices, are having difficulty getting approval for headcount.

For the rest of the year however, the outlook is positive. International market unpredictability is settling as Greece heads towards a solution in Europe and as the United States shows signs of economic improvement. In New South Wales, a raft of planned government infrastructure projects are expected to increase market activity and result in headcount freezes being lifted within the construction and infrastructure sectors. With these teams already stretched, we anticipate that a little increased market confidence and activity will culminate in a tipping point, resulting in a strong demand for in-house lawyers. The experience level required will predominately be at the 2-7 year level, as is standard.

For further information on the in-house market please feel free to contact Andrew Murdoch on 9266 2900.

Real Progress

Congratulations to all of our former candidates who have been recently promoted to partner at Magic Circle and White Shoe US firms!

These lawyers are now partners at firms like Freshfields, Kirkland & Ellis and Walkers Global. Admitted as late as 2005, it is impressive to see such progress so early in their careers. It is exciting to see that great people can advance overseas and often do so faster than at firms in Australia.

Senior Associateship and Your International Career

Progression is one of the most misunderstood aspects of making an international move. It starts with the perception that making Senior Associate in Australia will have an impact on one’s ability to progress overseas, or alternatively, will affect the offer one receives. The reality is actually very different.

Firstly, the Senior Associate title and the significant wage increase that it brings is a uniquely Australian concept. International firms pay on a “lockstep” basis, so while some have titles between Associate and Partner, there is no corresponding large jump in salary. If anything, the title is more to do with seniority than merit. At most firms it is merely indicative of a certain PQE level, regardless of competence or achievements.

Secondly, international firms looking at Australian and New Zealand lawyers make offers based on the totality of peoples’ experience, not on the title they possess. This makes complete sense given that it takes longer to make it to SA at some firms over others in the Australian market. It is only right that titles are essentially irrelevant, as they would be quite unfair to compare, particularly when many firms don’t have a corresponding “Senior Associate” title at all, just “Associate” and then partnership.

Finally, most international firms when hiring are looking for people at the 2-4 PQE level. It tends to be more difficult to relocate with increasing seniority. The result is that many who decide to wait for the “Senior Associate” title with a view to improving their chances overseas, actually do themselves a disservice and ultimately limit their options of making a move because they become too senior. .

Making Partner Overseas

The second misunderstood element about international career progression concerns the partnership track.

Obviously the partnership track differs from jurisdiction to jurisdiction, and is highly dependent on the firm itself. However, it is certainly the case that in recent years people have been made partner faster in the Magic Circle than at the top tier in Australia. The reasons for this are complex.

The partnership track in Australia seems to be lengthening an extra 6 months every 2 years or so. It presently stretches out to about 12+ years in the top firms. We expect the pressure that firms have put themselves under for international tie ups will only make matters worse. As partnerships enter global equity pools, pressure will be on individual partners to increase their own profitability. However, increasing fees to achieve this is difficult – billing out in Australian dollars to clients that are used to certain prices means there will be resistance at that end. This strain will make it a lot tougher to justify an increase in partners in Australia, especially for the larger firms. So while mergers create opportunity, the reality of having to increase profitability while keeping fees steady can only mean one thing for progression.

That said, for those who regard partnership in Australia as the ultimate aim, an international stint is certainly neither a barrier nor a delay by any means (a quick glance through the biographies of current top-tier partners should be reassuring). In fact, many lawyers returning to Australia after an overseas stint find themselves in higher demand because of their international experience, with the result that they are placed slightly ahead of their peers, both financially and in terms of progression.

If you are interested in finding out more about your international career and progression, call one of our international consultants on (02) 9266 2900.

As the market for corporate transactions burgeons in Asia, we are seeing the benefits of language skills, particularly Mandarin Chinese, Korean and Japanese for candidates and their career paths.  Mid-level to Senior Associate candidates returning from Hong Kong, Singapore and Japan are very highly regarded in most major corporate and commercial law areas and in many leading firms opportunities which are not advertised are created for high quality candidates who also speak and draft in Mandarin.

Tier one Australian practices including King & Wood Mallesons and Freehills have recently advertised Sydney based roles with Mandarin Chinese and/or Korean language as a definite advantage for their positions.  Minter Ellison has confirmed that with the strength of their growing presence in China, not only in Hong Kong, but Shanghai, Beijing and now Mongolia, they are seeing a growing need for language skills across the corporate and project areas. This need is present not only overseas but within Australia too, as their Asian-based clients look to invest here.

Language skills alone do not of themselves create advantage; lawyers also need to demonstrate strong academic credentials and quality transactional experience.  However, language skills combined with a strong deal sheet or project list are certainly enabling lawyers to command a premium in this market and this combination often enables talented ambitious lawyers to fast-track their careers.

If you are returning from a leading firm in Asia or have been working locally and wish to further utilise your language skills and gain access to the highest quality work in our region, give Shaaron Dalton a call on (02) 9266 2906.

The recruitment process for in-house roles can vary greatly, however there are general differences between the private practice and in-house processes.

The CV

All CVs should be direct and succinct. Advice given to the business as an in-house lawyer will generally be to the point, so use your CV to demonstrate that you can impart your experience in a concise and well-structured manner.

You should also include aspects about your life outside your career. As an in-house lawyer, you will be expected to liaise with people from all aspects of the business, so show that you have had contact with people from differing backgrounds. Think surf lifesaving, book clubs and charity involvement – all of these things will be viewed positively.

The Interview

In-house interviews tend to vary significantly from private practice interviews.

As with the private practice, the interviewer will ask questions regarding your technical skills, but this usually forms a smaller portion of the interview. These technical questions will tend to focus on your ability to apply the law in a commercial and also pragmatic manner, as company employees will want to receive their legal advice in lay terms.

The interviewer will tend to take the skills listed on your CV as a statement of your technical abilities, and therefore will use most of the interview to explore interpersonal and character issues. In-house teams tend to be small (approx. 3-4 people) and so it’s crucial to have the right interpersonal fit amongst the team. In private practice, personalities tend to be more diluted by the size of team and the firm, but one bad apple in small in-house team can cause the team to cease functioning. In an in-house interview the interviewer will be trying to find out “who you are and what makes you tick,” to establish if you would get along with the business. In basic terms, they want to know that they would be happy having a coffee or drink with you.  If you give “text book” answers but fail to give the interviewer a sense of “who you are,” it is unlikely you will get the job. Accordingly, it is extremely important in an in-house interview to let your personality shine. They are recruiting you just as much for who you are and your ability to interact with the business as they are for your technical skills.

Additional questions to expect in an in-house interview regard your motivations for moving in-house and your knowledge and understanding of the company and the industry. It will be important to do your research prior to the interview. This includes reading press releases and understanding their products or services, but also being able to articulate your motivations for wanting the role.

Should you like any further interview advice or tips please feel free to contact Andrew Murdoch on 9266 2900.

The last few decades have seen a marked increase in Australia’s regulatory framework. While the rise of the “nanny state” is an ideological and political minefield, one group undoubtedly profits from these developments – regulatory lawyers.

The increase in regulation has been extremely broad and has permeated all aspects of economic and financial transactions. The most obvious examples are the increased regulation of the corporate world through regulatory bodies like ASX and ASIC, as well as the extension of the powers of the ACCC and competition law. Notably, these developments in competition law have given bodies like the ACCC the power to be proactive, as evidenced by their prosecution of Apple in the Federal Court this week.

Equally visible in the legal world is the increased regulation of financial services, particularly in the areas of superannuation and funds management, and banking, with the new Personal Properties Securities Act 2009. Less obvious is the proliferation of regulation into areas like Workplace Relations with the Fair Work Act 2009, Occupational Health & Safety, Environment and Native Title, and Mining.

Obviously these regulatory developments are occurring constantly and the effect on businesses and corporations can be quite substantial. As a result, EA International has seen an increased demand for outstanding lawyers with applicable experience in all of these increasingly regulated areas, particularly in the top and mid tier. The demand is for lawyers who are across recent developments in their field and are able to provide clients with up-to-date information about the impact on their transactions.

We have numerous opportunities for experienced regulatory lawyers in all these areas throughout Australia. If you are a regulatory lawyer and would like to take advantage of this demand, contact our local consultant Shaaron Dalton on 9266 2900 or on shaaron@ea-int.com.

EA International is currently managing a litigation/arbitration campaign for global law firm Linklaters. The global litigation and arbitration practice works with the highest-profile clients on their most complex, high-value and reputation-threatening matters. The team works seamlessly across jurisdictions and practice areas. Our client offers intellectually stimulating and rewarding work in an open, team-orientated and meritocratic environment that is already home to a sizeable community of Antipodean lawyers.

We are looking for top-flight litigation and arbitration lawyers to join their highly successful team in London. We are seeking interest from quality litigators, both junior and more senior, with experience of all types of high-value commercial dispute resolution. We are particularly keen to meet with lawyers with a background in financial services litigation, contentious regulatory and competition work, restructuring and insolvency disputes as well as white collar crime matters. Partners from the London litigation group will be in Australia and New Zealand for face-to-face meetings and interviews at the end of April.

To arrange a meeting, or simply find out more, contact Michael Bromley or Maciek Motylinski on +61 2 9266 2900 or at ea@ea-int.com.

In a law firm, lawyers tend to be paid about the same as their peers in the firm at an equivalent level or capability, regardless of the team or group that they are settled in.  The same cannot be said for the in-house market. Salaries fluctuate markedly between different industries. For example, a front end construction lawyer at a large energy company will usually be paid more than a media lawyer at a large television channel at the same level.

The reason for the discrepancy in salaries can be simply explained by supply and demand.  As a general rule the “sexier” the industry the more people that are interested in working in it and the lower the pay. The sexier companies capitalise on their position and reputation in the market by attracting top quality lawyers at lower wages. At the sexier end of the scale are the media and fashion companies and at the other end are the “harder” industrial companies. For instance, an in-house position at a leading fashion house or sport channel will have more interested applicants than a sewerage treatment plant operator.

A common misunderstanding held by lawyers looking to move in-house is that the larger and more prominent companies pay better. The truth of the matter is that it is often the less well known companies that pay very well – they need to in order to attract the best candidates.

An additional misconception is that the more prominent the company, the better the work. As a consumer you will normally only hear about those companies that are public facing. It is essential not to assume that a company that does not have a large consumer presence is therefore a small company or offers poor work. There are thousands of companies in Australia that deal business to business and have no direct consumer presence, for example companies that make under-sea cables, create microchips for mobile phones; or are responsible for the development of a new radar system. These companies can also offer excellent work and good salaries. The key is to do your research on the company before deciding whether it is one you would work for.

If you would like to know more about the in-house market, opportunities currently available and how best to manage your move, contact our In-House Senior Consultant, Andrew Murdoch on +61 2 9266 2909 or at andrew@ea-int.com.

Where is Your Career Focused Long Term?

With the rise of international firms in the Australian legal market and the consequential fee squeezes occurring in bread & butter transactional areas of the practice, the legal landscape is changing and the mid market local firms are benefiting. (See our article on the rise of international firms in Australia). This is a trend that some of the managing partners of mid market local firms have predicted for some time and we are starting to see the truth of their views in the market.

There are some key practice areas where this trend is more prominent and we are seeing immediate results with an increase in career opportunities on offer in mid-tier firms due to increased workflow.

Property Roles in Sydney Mid-Tier

In the Sydney property space, lawyers are increasingly feeling pressure on their fees in the top tier. This is leading to a rise in high end work for mid and boutique firms, with the mid tier taking over the bulk of commercial and retail property work, leaving the larger firms concentrating more heavily on large scale resource projects, the infrastructure project space and property funds investment areas.

Another interesting trend is the growth of multi-skilled projects teams in the high end market, and the resulting movement of key lawyers from firms like Ashurst, Norton Rose and Freehills in the national mid tier market. These lawyers are now focussing on local property development and leasing work that used to be bread and butter in the larger firms, but has increasingly been squeezed out by competitive pricing.

With movement like this expected to continue, it is now a good time for mid and senior level property lawyers to start to consider where they want to work long term. If you are a top tier property lawyer considering where you want to position yourself for the future it would be worthwhile calling one of our specialist consultants for a chat about managing your career.

Workplace Relations Lawyers Jobs Bonanza

With an abundance of redundancies and insolvencies across the economy in the wake of tough financial times, combined with a recent massive increase in industrial activity,workplace relation teams in the mid tier have a drastically increased workload. Opportunities abound from junior to mid level lawyers in all the major capital cities in Australia for those who are keen to take advantage of this change.

Litigation

The mid market is also increasingly busy in the litigation space, particularly in areas like insolvency and regulatory litigation as a result of market wide demand for these services. The mid tier offers excellent options for increased client contact and autonomy, alongside increased control of hours which are rarely available in the top tier.

If you would like to know more about making a move to the mid tier and how best to manage your career change, call our local senior consultant Shaaron Dalton on (02) 9266 2900 for a confidential discussion.

For all the recent woe about old London town, things are not looking quite so bad for many lawyers looking for a UK stint. While it has been a very slow last 6 months with the injection of the latest round of EU stimulus and the upcoming bonus season we expect attrition rates to slightly increase, giving rise to further opportunities across a number of practice groups.

If you are a corporate or M&A lawyer, then your chances are currently spread very thin on the ground. The corporate market has continued to be flat as companies play a waiting game in the volatile European economy, with the result that Australian and New Zealand lawyers are finding it difficult to get a look in. There are however numerous great opportunities for funds lawyers, or corporate lawyers willing to transfer into funds. Financial regulatory lawyers are also being hired steadily across the board.

For lawyers in finance or project finance, the news is improving. Those with outstanding academics and excellent top-tier experience are still able to get their foot in the door, with some world-class firms presently interviewing a number of our candidates. Lawyers in the competition space are in a similar boat, with a steady demand for outstanding candidates.

Saving the best news for last, the London litigation market is currently exploding, with demand for the very best Australian and New Zealand commercial litigators as high as it has ever been. London is fast becoming the global leader in litigation and dispute resolution, with several new litigation firms opening in the last year. For Australian and New Zealand lawyers, this means that there is real opportunity to work with the top law firms in the City. Good news at last.

If you are interested in working in London and would like to know how best to manage your relocation, contact one of our international consultants on +61 2 9266 2900 or email ea@ea-int.com.

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If you are thinking about moving in-house or would like to keep it as an option as you progress through your legal career, there are a number of steps you can take to ensure you have the best possible chance of making the move when the time comes.

Firstly, you should align your experience with the in-house industry you would like to work in. Over the years we have seen lawyers look to make the move in-house to their dream company only to find that it was going to be extremely difficult – the back-end property lawyer looking to work in-house for a fashion label or the litigator looking to work for a technology company. When companies look to recruit they seek people with the skills most appropriate for their industry. For example, if you have a burning desire to work for a technology company but are doing property work you should look to transfer to the TMT team. You should make the move to the aligned industry as soon as possible. This is most easily done within the current firm in which you work, where you have the relationships and the connections to enable it to happen. It can also be achieved by moving firms, although this is more difficult.

It is important to note that there are some private practice teams from which it is very difficult to make the move to any in-house team. Very few companies are engaged in sufficient litigation or corporate activity regularly enough to justify having in-house counsel with these skills. That, in part, is why firms have such large corporate and litigation teams – it’s seldom work done in-house.

Further, undertake as many secondments as you can. Secondments are viewed very favourably for a number of reasons: they demonstrate your desire to move in-house; they show that you are able to adapt to the in-house environment and that you like the environment; and they give you valuable technical and soft skills. Again, if possible, align the industry of the secondment with the industry you ultimately wish to move to.

Finally, undertake as much contract negotiation and drafting as you can. A common thread of all in-house roles is the negotiation and drafting of contracts. The more contracts and the greater the variety of the contracts you have negotiated and drafted, the better.

Start looking for your in-house role early. The in-house legal market is a lot smaller than the private practice market and accordingly in-house roles come up less frequently, so you should allow yourself more time to find the right role.

If you would like to know more about the in-house market, opportunities currently available and how best to manage your move, contact our In-House Senior Consultant, Andrew Murdoch on +61 2 9266 2909 or at andrew@ea-int.com.

If you feel that you are underpaid and undervalued as a lawyer, the truth of the matter is that you may well be. Lawyers working very similar jobs in similar firms can be paid vastly different salaries, and the gaps only widen as you progress up the food chain. Being smart in managing your career can help you improve your financial position.

Huge variation in remuneration

Salary levels vary widely within the different levels of lawyers, with as much as a $20K - $30K difference in mid-level salaries between firms at the same level of the market. For senior associates, the salary variation can be even more marked, with a spread of between $20K and $50K.

Further, there has been a shift towards a culture of bonuses in an increasing number of firms in recent years. An often overlooked feature of remuneration packages, we have seen a trend in larger firms consistently paying upwards of 20% in bonuses. This not insignificant addition to a base salary is essential to keep in mind when thinking about getting the most financially out of your career.

Of course, lawyers often say that moving is not about the money! The question is however, why would you do the same work for less money than a similar person in a similar firm?

Possibilities and opportunities

Making the most of it financially involves having an awareness of the current market and taking good opportunities as they arise. The current local market offers large numbers of possibilities for lawyers across the board. If there is nothing suitable however, it is important to be patient and wait for the right role to arise.

For lawyers looking to move now, the market in both Sydney and Melbourne is patchy at present, with obvious strengths in energy & resources, project finance, M&A and workplace relations. There are steady opportunities arising for litigation, TMT, competition and insolvency lawyers and occasional good offerings in Property Law.

In terms of levels, the  4-6 years level is where the majority of roles lie, with some very good Senior Associate roles in busy teams and even partnership options in the second tier firms keen to capitalize on opportunity as the top tiers merge and consolidate their international competitive positions in our region.

In Perth & Brisbane, fuelled by the resources boom, there are strong options for lawyers at all levels across all areas of practice.

Flexibility is key for financial reward

Not all the best jobs are at your front door. To work in the fastest growing and busiest teams in this market may require relocation to different cities and states. As the gap between average salary levels closes between Sydney, Brisbane and Perth however, this may be to your financial advantage.

If you would like to know more about market remuneration and where you stand, call our local senior consultant Shaaron Dalton on (02) 9266 2900 for a confidential discussion.

In this final edition of our salary comparison series, we look at Moscow which is the dark horse in this analysis (see New York, Cayman and Dubai analysis).

The Mystique of Moscow

Moscow is a unique jurisdiction, with close connections to both Europe and Asia. Despite a virtually non-existent legal practice two decades ago, the last ten years have seen a flood of excellent partners from London and New York to Moscow to build practices. The result is legal work of the highest quality, with an enviable spread of local and international clients. Add to this the strong financial rewards of working in Moscow, and this is a jurisdiction worth considering strongly.

Money & Moscow

For foreign lawyers, Moscow remains one of the few jurisdictions where lucrative ex-pat packages and hardship allowances are still on offer. Remuneration, although varied, is basically in line with New York rates once the hardship payment of around 20% comes into play. Both UK and US firms generally pay similar rates.

Added to the generous New York level salary is the fact that a flat income tax rate for Moscow residents is a mere 13%, with residents being defined as anyone who resides in the city for over 183 days of the financial year. But here’s the kicker; firms also pay ex-pat lawyers between $US5,000 and 6,000 in housing allowance per month.

Although Moscow can be expensive in parts, it remains in line with other developed Eastern European centres. While housing can be very expensive, the cost of living is, all in all, very reasonable.

To sum up, you could be earning a New York salary with about 50 to 60K on top to spend in the way of housing, with only 13% being taken off for taxation purposes. If you can stand the cold of a Moscow winter, you will no doubt have lots of money to spend in the European summer.

Taking all these factors into account Moscow may well be the most lucrative place for an Aussie or Kiwi lawyer to go.

If you are interested in working in a lucrative jurisdiction and would like to know how best to manage your relocation, contact one of our international consultants on +61 2 9266 2900 or email ea@ea-int.com.

As a general rule companies tend to look to recruit lawyers with at least two years experience gained in private practice. Companies take the view that firms provide excellent training in the initial years that they cannot offer. Whilst it is not impossible to make the move in-house earlier it is recommended that you spend your first two years in a firm. Law firms have the resources and framework in place to provide the training and support you need during those initial years, while in-house teams being generally smaller will not often have a dedicated training program. Companies will also tend to look for lawyers from those practice groups most closely aligned with their particular industry, i.e. IT practice group/IT company.

It becomes increasingly more difficult to move in-house from approximately 9 years PAE onwards. If you are applying for an in-house role and you are over 9 years qualified you may find yourself competing against a candidate that has had 5 years in private practice and 4 years in-house experience. Everything else being equal, companies are more likely to favour the candidate with the in-house experience because they have already proven that they can make the transition to an in-house environment. Additionally, beyond the 9 years, companies also question the motives behind your desire to move in-house. They will question why you haven’t made the move in-house earlier, as they are concerned that you may have chosen this option only because your partnership prospects are not positive, rather than because you truly have a desire to move in-house.

The best time in your career to move in-house is generally between 2 and 6 years post admission. Making the move earlier or later is not impossible just potentially more problematic.

If you would like to know more about the in-house market, opportunities currently available and how best to manage your move, contact our In-House Senior Consultant, Andrew Murdoch on +61 2 9266 2909 or at andrew@ea-int.com.

In this edition we take a look at Dubai and compare it to other lucrative jurisdictions (See our previous New York and Cayman analysis).

Like the Cayman Islands, Dubai is a tax-free jurisdiction. However unlike the Caymans, salaries in Dubai tend to be more in line with leading UK firms rather than US firms, however with the addition of significant benefits. This slightly lower salary base combined with the weakness of the Sterling (relative to the Australian dollar) means that Dubai may lag behind places like Cayman and New York in terms of nominal remuneration, but very much with Cayman when you factor in added benefits and the cost of living. To give an illustration, a 3-year lawyer at a magic circle firm in Dubai will be on a salary of approximately £85,000-100,000 ($A130,000-150,000) and up to 5 years on closer to £110,000 (A$165,000).

Yet despite this slightly lower average salary base, firms in Dubai have discretionary bonus schemes in place and lawyers typically make somewhere between 15% and 20% in the way of bonuses. Add that often-overlooked fact to the very reasonable cost of living in Dubai (particularly when compared to Cayman, New York and Sydney) and the salary begins to look increasingly attractive. There is even scope for some firms to provide housing allowances and other similar benefits.

On the face of it, Dubai may seem to be slightly off the mark with base salaries – but when zero tax is added to the aforementioned factors, it is clear that this is an extremely lucrative jurisdiction where you can make the most of it financially.

If you are interested in working in a lucrative jurisdiction and would like to know how best to manage your relocation, contact one of our international consultants on +61 2 9266 2900 or email ea@ea-int.com.

With the expansion of international firms into the Australian legal market over the last few years, there has been a focus on opportunities for lawyers across the board throughout the top tier. However, for those lawyers working in complimentary or advisory practice groups, the future may not be so bright.

Mergers like King & Wood with Mallesons and Ashurst with Blakes appear to be setting the tone for the future of the top tier. Whispers of high-level discussions between Magic and Silver Circle firms and the top-tier have arisen, with Freehills and Herbert Smith recently confirming they are in discussions. Add to that the standalone entrance of major players like Allen & Overy and Clifford Chance and the face of the legal market appears very different to that which many are accustomed to.

It is seemingly inevitable that all of the major international law firms will eventually have offices in Sydney. This will signify an increasingly intense competitive market, with firms like A&O already showing they can compete on the M&A tables after barely two years of operation in the region. In such a market where global equity pools suddenly come into play, expect to see a narrowing of focus – practice groups that bill big (think corporate, banking, finance and litigation) will begin to take precedence over the smaller, complementary groups. This will be compounded further as issues relating to historically high exchange rates begin to kick in.

This means that for lawyers in groups like employment, IP, media, government and insurance, the changing face of the top tier may not provide the opportunity that it does for corporate lawyers and litigators. It stands to reason that groups where clients have great cost restrictions are going to continue to be put under pressure as streamlining occurs. It would seem that the future of these groups is in the mid-tier or boutique space in the medium term, with many of these practice groups already excelling in the area. For those lawyers in such a group, now may be the ideal time to begin to reconsider your position in the market in order to settle your career long term.

If you would like to know more about the Australian local market, current opportunities available and how best to manage your move, contact our local consultant, Shaaron Dalton on +61 2 9266 2906 or at shaaron@ea-int.com.

2011 saw a welcome improvement in activity in the in-house market compared to 2010. In-house teams that had postponed recruitment in 2010 pending some clarity in the wider market decided that they could no longer manage on a skeleton staff, that uncertainty was the new “certainty” and looked to recruit (although not at the same levels as the firms). Within Commerce & Industry it will come as no surprise that industry sectors associated with the resources boom had the most activity (mining, energy, construction infrastructure) and that demand for lawyers in these sectors in Perth and Brisbane remained strong. With NBN getting under way and continuing changes in technology, the IT and Telco sectors also saw demand,particularly in outsourcing. General commercial lawyers with the ability to draft good commercial agreements have also been in demand as many smaller businesses look to recruit their first lawyer to reduce their external legal costs. Within Banking & Finance the market was steady, particularly within funds, insurance and investment banks. However, towards the end of 2011 activity at the banks diminished as the Euro crisis continued and the big four made dramatic staff cuts.

2012 - Despite the gloomy media predictions, at EA International we expect the in-house market to remain steady in much the same way as the latter part of 2011. In Commerce & Industry the resources boom looks set to continue and accordingly demand for lawyers that support that sector – i.e. infrastructure, construction and energy – should remain strong. In NSW, there will be increased demand for project and infrastructure lawyers,as the state government is expected to announce infrastructure projects that will most likely take the form of PPPs. As more and more organisations seek to lower their labour costs by pushing work overseas (think Qantas), IT outsourcing will continue to grow. The trend of recruiting a sole legal counsel to reduce legal costs will continue in much the same way as 2011. The retail, media and FMCG sectors will remain sluggish as they come to grips with the digital age and cautious consumers. In Banking & Finance, recruitment at the big four banks will remain subdued for the foreseeable future as they once again chase record profits. Funds and insurance should remain steady as these sectors are well-insulated due to compulsory super and necessity of insurance.

Moving forward, the good news is that all the in-house teams are exceptionally busy and would like to add additional lawyers to their teams but are waiting on head office approval. Should “certainty” return to the market in the form of a resolution to the Euro crisis, we would expect in-house recruitment to surge as companies make up for lost time.

If you would like to know more about the in-house market and how best to manage your move, contact our In-House Senior Consultant, Andrew Murdoch on +61 2 9266 2909 or at andrew@ea-int.com.

The year is almost over and we wanted to give everyone a brief round-up of the legal market in 2011:

• Throughout 2011, we’ve helped clients hire the very best in Australian and New Zealand lawyers across more than thirty different jurisdictions. In March, we were fortunate enough to manage the global Linklaters campaign, the largest recruitment campaign of any Magic Circle firm in the Australia/New Zealand region since 2008.

• Indeed, international destinations remain resilient and continue to hire. EA has been the leader for 11 years in assisting Australian and New Zealand lawyers to take their careers overseas and this year has been no exception. We have placed lawyers in New York, Amsterdam, Paris, Milan, Moscow, Brussels, London, Hong Kong, Singapore and Dubai. There remain opportunities across a range of practice areas but many are no longer advertised, making the market difficult to navigate. Speak with our international consultants for a full picture of which opportunities exist in various locations. Hiring remains strategic but the interest in Australian and New Zealand lawyers in particular is very strong and we envisage this to continue into 2012 as the European economic situation becomes more certain.

• 2011 has also seen the expansion of our local service. The addition of our new Senior Consultant Shaaron Dalton in July was welcomed in the face of strong demand in all of Australia’s capital cities, especially Perth, Brisbane and Sydney.

• Locally, the globalization of the legal market continues with Australia remaining a strategic target for international firms looking to set up offices in Sydney and Perth in particular. This year Clifford Chance, Ashurst and US firm Squire Sanders set up their operations through mergers and acquisitions of national and boutique firms in Australia. Next year we will likely see more new entrants and further market consolidation at the top end. These developments mean a range of new and interesting opportunities with global firms for Australian lawyers.

• Salaries in the Australian market have continued to grow with upward pressure coming from the influx of international firms that have opened their doors here. As competition for elite legal talent heats up, firms have had to make adjustments in reaction to the new levels offered by some of the international players. All of this is good news for lawyers throughout Australia’s major cities along with new bonus arrangements incrementally leading Australia closer to a US or UK model or bonus culture. Again, we see this developing further in 2012 and so get in touch with us for a complete and exact appraisal of your salary and market rates being paid by top tier, international and leading boutiques firms.

• Researchers to the team have been made throughout the year – we are proud to have the very best research in the Asian market, and will continue to lead the industry in 2012 with the introduction of a premiere In-House service.

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In this edition we examine the situation in the Cayman Islands (see our previous newsletter for a New York analysis).

Salaries also start at around US$150,000 for associates with a minimum of 3 years post qualification experience. One of the requirements for obtaining a work permit in Cayman as a lawyer is you must have gained a full three years post qualification experience in your home jurisdiction. Again salaries move up about 10K each year and Senior Associate salaries for lawyers with 5 or 6 years of experience start at US$200,000. From there salaries tend to plateau at around US$250K for lawyers with between 8 and 10 years of experience.

Firms also have generous bonus schemes in place typically paying between 15% and 30% depending on individual billings and firms wide performance. All of this is tax free mind you, so you keep every penny. The flip side of Cayman is the cost of living is significantly more expensive than New York or Sydney in almost every way, largely due to the remoteness of the Island. Assuming the cost of living is between 20% to 30% on top of Sydney or New York that takes some of the edge off the tax free nature of the place.

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The New Year is just around the corner and those who are thinking about a potential in-house move can start putting plans in place. EA International is pleased to announce our new in-house offering as of January 2012. We are looking forward to being able to provide Australia’s elite legal talent with an in-house service of the same level and quality as our local and international practice offerings. With the addition of one of Sydney’s top in-house recruiters, we will be well placed to assist you with your move across the full spectrum of in-house legal opportunities, across a diverse range of sectors. Register your interest now to get the pick of opportunities from early in the New Year. If your plans are more medium-term, we would also like to hear from you so we are fully appraised of your plans and preferences and able to get you information on new roles from month to month.

Stay in touch with us through our website or newsletter for exciting new content about transitioning your career from private practice to in-house, along with the latest salary and job information for lawyers looking to make such a career change. There is a lot to consider in making the move out of private practice and lawyers need to seek the advice of experienced consultants to ensure they are making the right choices and considering all the relevant factors. EA will be well placed to counsel you through the process and provide you with honest advice about your prospects and the best avenues to pursue.

For more information on the state of in-house opportunities throughout Australia give us a call or register your interest here. Alternatively, subscribe to our newsletter to get a fortnightly update on the best in-house roles in the market.

The next series of newsletters will analyze the financials, cost of living and tax arrangements that will hopefully point you to where you can make the most money. There is always a lot of debate about where an Australian lawyer can make the most money and with the Australian dollar moving up and down like a yo-yo in recent months, a brief analysis is certainly overdue. Most lawyers would say that New York or one of the off-shore jurisdictions like the Cayman Islands or Dubai appear to make the most sense given the very high salaries paid in New York and the tax free status of the latter locations. Given how much the Australia dollar has appreciated in the past 6 to 9 months, particularly against the US dollar and Pound Sterling, many lawyers (particularly mid to senior level associates with leading firms) are finding it difficult to justify their overseas moves financially – or so it seems.

In this edition we look at New York. Typically salaries in New York for a first year associate start at US$160,000 and go up by about 10K each year or class band so a 5 year associate is typically making about US$230,000. Bonuses amongst the elite US firms are also paid yearly on top of the base salaries and are usually about US$30,000. In comparison, a first year senior associate (5 years of experience) in Sydney usually starts off on a salary of about A$150,000 and as we know bonuses here in Australia are more discretionary and fall short of the 30K US firms pay in New York. So a 5 year lawyer in New York can make circ US$260,000 whereas in Australia (even with e.g. a 20K bonus) the same lawyer is on about $A170K as a first year SA after 5 years of experience. That is about a 90K difference when the Aussie dollar is at parity. No small change. So New York remains one of the most lucrative places for a lawyer to work on the back of very high base salaries and huge annual bonuses. The other thing to note is New York remains a relatively inexpensive place to live and even rent in Manhattan is no longer streets ahead of what you pay in undersupplied Sydney! Taxes are also high but not as high as the top marginal rates in Australia.

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Another day another rush of hysterical headlines predicting either the onset of GFC mark 2, the “inevitable” breakup of the EU, or the “hard landing” for Chinese growth! If it’s not banks being depicted as ruthlessly protecting their margins in talking down the economy so they have an excuse not to lower rates when the RBA does, it is self interested pollies looking to score cheap points. To say the media are exaggerating the highs and lows is an understatement – they want to portray the economy as rocks or diamonds, but the reality is somewhere in the middle. Although we at EA are not economists, we are experts in legal recruitment. While there are clearly issues to deal with, our clients are telling us that the reality on the ground is far different from what you might perceive in the MSM. So what is actually happening right now?

• Every major international firm has seen an increase in turnover for the first 6 months of the financial year (for example A & O up 11%, Norton Rose up 7%). While many predict the second half to be flat, they are universally busy in Asset and Structured Finance, Restructuring, Litigation, Financial Services and Projects, just to name a few groups. In Asia, most of the growth is in Corporate, and in the Middle East, firms have slowly been recovering and have actively been hiring in Projects, Energy, Finance and Litigation. Couple that with significant increases in firms partner profits (for example £2.2m at Linklaters up from £1.56m at the top of equity) and it is not exactly an ugly picture!

• The general sense of conservatism about hiring, which has been particularly evident in the last two years, has limited growth for some time. The flip side to this is that most firms are very lean and have maintained high levels of utilisation, and are therefore much better placed to focus on groups which may become more active again, like Insolvency. Those who have hired for the last two years have done so for a reason – they are hiring to replace. As attrition rates remain at around 15-20%, this will continue.

• UK and US funds are driving acquisition and funding growth in Europe, Asia and the Middle East. As the US slowly strengthens, more funds will flow into the EU. There is significant money parked on the sidelines with US funds that will inevitably flow into discounted assets, so even a recession in Europe won’t lead to the same credit crunch that we saw in 2008. Most firms are of the view that the ECB will either significantly drop rates, or undertake some form of QE. Either way, international lawyers tend to work for inbound clients and the flow of money into economies in Europe will actually lead to more work for international firms (but less for the local firms).

• Outside of Australia we have placed people and worked with firms hiring Australian and New Zealand lawyers in Amsterdam, Milan, Frankfurt, Paris, Brussels, Jersey, Moscow, London, New York, Cayman, Dubai, Abu Dhabi, Hong Kong, Shanghai, Tokyo and Singapore in 2011 alone.

Not exactly the picture the press are painting, is it?

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Offshore financial centres are shifting to the mainstream, which has led to significant growth for off-shore law firms outside of their historic centres. The offshore financial industry is in transition from institutions purely serving wealthy individuals and large international businesses, towards a wider clientele of middle market corporate consumers and private customers who are drawn to the expansive trust, brokerage, fiduciary and other services. The formation of offshore trusts and companies is booming.

The massive growth in offshore investment funds is indicative of this shift. Offshore investment funds already represent assets of more than $1 trillion and in an increasingly global economy, investors are looking for increased gains, inbuilt tax benefits and fewer border regulations. The urge to invest directly in emerging markets is driving the growth of offshore funds still further.

The Channel Islands, made up of the bailiwicks of Jersey and Guernsey, are renowned as one of the leading offshore destinations in the world. With a combined population of about 160, 000 people and lying about 15 miles off the coast of France, the location is the perfect launch pad for the UK and continental Europe.  Lawyer salaries are comparable with London rates. A 5 year PQE corporate lawyer might expect to receive a starting salary between GBP£75-85K. With Guernsey at the forefront of offshore investment funds, this is the perfect jurisdiction for lawyers to specialise their skills and practice.

Moreover, the new changes to the Cayman Islands Immigration Laws are making life a lot easier for expat lawyers to manage work permits. Effectively suspending the unpopular ‘roll-over policy’ and creating long term work permits, these amendments passed earlier this year are well-timed to facilitate lawyers jumping in and benefiting from the growth in global offshore funds and work created from the new clientele.

Asia, too, is experiencing a revival of offshore firms from the Channel and Cayman islands. China, Singapore and Hong Kong host offshore firms offering a global practice while maintaining the ‘Cayman’ attitude, rendering them great places to work. If you are interested in working in an offshore firm in Asia, get in touch with one of our international consultants on +61 2 9266 2900 or ea@ea-int.com for a confidential discussion.

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Lawyers who think strategically about their career path have been shown to achieve a better career trajectory than those taking a laissez-faire approach. In making a well-planned career move, much can be achieved in terms of higher quality work, higher remuneration and a clearer pathway to partnership.

Executives in large organizations are often trained and coached about career management skills from an early stage and taught about the business they work for.  In law firms, it is not until a couple of years from partnership (if you are on the right track) that such management training begins.  As consultants, we see the difference taking a strategic approach to your career can make to the quality of your work, interest in your work and of course remuneration and partnership prospects.  Too often we deal with senior lawyers who have sat and waited for opportunities to arise and found that they never actually did.

The key triggers we see for a strategic move are as follows:

1. Change at supervising partner level: The partner may have left, may be planning to leave or may be relocating to another office.

2. Financial: Why work for less money in one firm when another pays 20% more for the same work?

3. Work levels: Too much work may create excessive hours; too little work may cause boredom and fear of financial/job instability.

4. Quality of work: Where the kind of work is no longer sufficiently stimulating or there is a movement towards doing less enjoyable work.

5. Difficult Partner/Colleague: It is not necessary to work in a negative environment while there are many positive ones to choose from.

6. Promotional Prospects: In top heavy practice groups we routinely speak with lawyers who are keen to know of opportunities offering a clearer path.  They do exist, but don’t leave your run too late.  We advise lawyers concerned about their group’s gearing to speak with us early – especially in the first two years of senior associateship because it is easier to establish yourself in a new firm at that level and to achieve the career impetus you are seeking.

If you see your own situation above and wish to speak with a consultant for advice on how to handle your career strategically please call us on (02) 9266 2900 or email ea@ea-int.com

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Structured finance is once again vogue du jour with firms in Sydney, Amsterdam, Milan, Singapore, London, Hong Kong, and Cayman conservatively growing their teams. Rising like a phoenix from the ashes, the post-GFC structured finance market has seen a considerable resurgence in the last twelve months, including structured products like Derivatives and Debt Capital Markets. As general lending and equity markets have continued to challenge businesses (and governments) looking to raise capital, the Debt markets, and more specifically the Bond and Derivatives markets, have taken up much of the funding slack.

The Bond market, for example, as a proportion of Global GDP has increased to 130% last year, from 119% in 2008, with this market now significantly larger in capitalization than global equity markets (at $55 trillion). Increases in Derivatives markets are evident as well, with 2010 witnessing a 25% increase in total trading with some 22.4 billion derivatives contracts traded worldwide, the highest level seen since 2004. This has certainly off-set the still-difficult Securitization markets which, while showing signs of improvement, are still largely inflated by government issuance and restructure rather than private company activity (with “placed” issuance still nowhere near levels seen prior to the GFC). What this has entailed for most structured finance lawyers (and those wanting to be one) is a diet of Debt Capital Market and Derivatives work, and far less Securitization than they might have consumed in the past.

Currently, demand for structured finance lawyers is high in Sydney, with many firms looking to expand their practices in these areas. Notably, newly opened international firms, both in Sydney and other Australian jurisdictions, are looking to build their practices as well. For those looking abroad, structured lawyers are in demand right across Asia, particularly in Singapore and China. Finally, beyond the Asia-Pacific region, further opportunities can be found with our clients in London and Amsterdam.

If you are a structured finance lawyer looking to make a move, get in touch with one of our consultants on +61 2 9266 2900 or ea@ea-int.com for a confidential discussion.

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Australia’s well-regulated banking environment and booming resources and infrastructure sectors provide strong offerings for NZ lawyers close to home.  The addition to the Sydney and Perth markets of Allen & Overy in 2010 and Clifford Chance in 2011 added Magic Circle options for talented practitioners.  The trend towards international powerhouse firms has continued with top tier Australian firms cementing international ties very recently. Blake Dawson has merged with Ashurst LLP and is set to rename as Ashurst in March 2012, while Mallesons’ joint venture with China’s leading firm, King & Wood, was also recently confirmed.  Credible international opportunities offering high level, cross-border transactional exposure are now available by just “crossing the ditch”.

What are we seeing?

M&A MINI BOOM

Fuelled by venture capital entering the market in the tech and energy sectors, M&A, private equity and ECM transactions are on the increase.  Activity abounds from local and international private equity houses and venture capitalists.  Senior Associate and mid-level roles predominate as quality transactional experience is sought. Remuneration prospects are strong with M&A roles carrying AUD$120 - AUD$150K packages for mid-level lawyers and AUD$170 to AUD$200K plus at 2-4 year Senior Associate level in Sydney.

FINANCE & PROJECTS STRONG

Finance roles also abound in Perth, Sydney, Brisbane and Melbourne.  Project finance is prominent with roles for experienced lawyers at all levels.  Resources and infrastructure related PPP’s create opportunities in transport, energy, telecommunications, waste management, health, retirement and renewable energy sectors.  Strong offerings also exist in securitisation, DCM and derivatives for creative, product-oriented finance lawyers.  Leveraged, asset and property financing roles show boutique and mid-market options running head-to-head for quality with the tier one international offerings.

ENERGY & RESOURCES ACTIVE

Exciting project opportunities are available in Brisbane with coal, LNG and water featuring highly over the past year.  Mining is again booming in Perth, and Chinese and US investment is creating new mines, ports and infrastructure projects to facilitate increasing production and demand.  Lawyers with finance, corporate transactional experience or infrastructure project skills are highly sought after and rewarded with above market salaries.

If you are considering an overseas move and would like more information about Australian options, please contact one of our experienced consultants on +61 2 9266 2906 for confidential inquiries.

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While transactional lawyers fear further global instability, there is no doubt that Litigators have been the great benefactors of increased disputes all around the world. Whether the disputes are between the world’s largest financial services providers and regulators, brought on by shareholders against the likes of Bernie Maddoff, or in projects and construction litigation inspired by failed mega developments, the GFC has seen a dramatic increase in large scale litigation and a subsequent growth in the size of litigation practices. Given the lengthy timescales many of these matters need to reach their resolutions, there will be work in Litigation for many years to come.

Indications of this demand can be seen across the globe. In the U.K., JSC BTA Bank v Ablyazov is a GBP1.5 billion dispute involving 50 associates, 22 partners and 32 barristers. Across the pond, the U.S. Federal Housing Finance Agency has claims against 17 banks to recoup $196 billion for Fannie Mae and Freddie Mac initially spent on mortgage-backed securities. Changes to financial regulatory rules motivated by the GFC have also resulted in significant increases in advisory work for financial services litigators (specifically, the Dodd-Frank reforms in the U.S. as well as the tightening of the regulatory framework in Hong Kong and Singapore).

In the Middle East, the brunt of GFC-related disputes has occurred in the real estate, projects and construction spaces. As disputes become more accepted in the region, there is certainly a positive future for litigators there. In the last three years, the global ADR market has continued to develop with a new center opening in Dubai and the continuation of rapid growth in hearings throughout all leading global International Arbitration courts.

Consequently, our clients in the UK, the Middle East and Asia are actively hiring mid-level Australian and New Zealand lawyers with experience in banking, insolvency or regulatory disputes, general commercial and corporate disputes, and construction, projects or real estate disputes. Click here to find out more about the types of roles we have on offer or contact one of our international consultants on ea@ea-int.com or call +61 2 9266 2900.

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Although the growth of the international firms tends to dominate headlines, the strong national and boutique “mid market” practices have also been putting the squeeze on the top tier and this is a trend that is set to continue. As decidedly more adaptable organisations, these firms continue to provide opportunities for lawyers seeking quality of work, opportunity to grow a practice, and a more balanced lifestyle. Mid tier firms tend to prosper off strong local relationships with institutional and government clients, and with continued pressure on in-house counsel to minimise legal spend, the flexibility of mid market firms to respond to these market changes has also seen an increase in specialised work flowing to them. We are now seeing firms with increasingly strong practices in construction, property projects, banking & finance, TMT and competition as this trend continues beyond the GFC.

Remuneration levels for mid-level and Senior Associate lawyers in medium-sized firms also rival the national top tiers, particularly when billable hours are taken into account.

In spite of recent reports of a drop in market confidence and predictions of a downturn in hiring within the mid-tier market, we are seeing those firms with strong national practices and institutional or government clients regularly hiring quality candidates. Several firms have plans for strategic growth and building quality requires careful recruitment. Such firms have budgets to attract excellent practitioners with ambition, drive and flexibility.

Lateral partner hires from top tiers are prominent with firms like Corrs Chambers Westgarth, Middletons, HWL Ebsworth, Johnson Winter & Slattery and Maddocks having added partners in key growth areas from Blake Dawson, Freehills and Baker & McKenzie in the past year.

If a move into the mid-tier is something you are considering please call one of our consultants on (02) 9266 2900 so we can keep you informed as positions arise.

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While we wake to headlines expounding the constant side-show that is the present EU-sponsored Greek bailout, EA International has continued to move Australian and New Zealand financing lawyers to teams throughout Europe this year, and there are certainly some great opportunities out there for people who want to work on the continent.

The legal markets in Frankfurt and Milan, despite what you might have read, continue to hire banking, projects and capital markets lawyers. This demand is driven both by an increase in restructuring work, and because so many German and Italian banks and Corporates have continued to invest throughout Europe and North Africa. Even with the high Bond market instability – or possibly because of it – DCM and structured finance work, and the restructuring of various structured vehicles, seems to be making up a significant portion of our clients’ practices at the moment.

In Frankfurt, we have found that Project Financing practices that have a broad international client base have continued to be busy, particularly those with clients in the energy sector. Lawyers with large-scale project experience are particularly sought after along with general finance lawyers interested in doing more project finance work, as well as asset finance which remains a key area of demand across Europe.

On the Italian front, Milan remains the finance centre of Italy and Australian/New Zealand lawyers with finance or debt capital markets backgrounds are in demand. English law teams will hire from this part of the world and language skills and EC work rights are not an obstacle.

For lawyers looking for a more exotic jurisdiction to work in, these jurisdictions present real opportunity for those with the requisite top tier finance or capital markets experience. EA International has moved many Australians to work with these magic circle firms in Europe and so is well-placed to assist lawyers looking to make the transition. Click here to find out more about the types of roles we have on offer or contact one of our international consultants on ea@ea-int.com or +61 2 9266 2900.

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Somewhat paradoxically, Abu Dhabi has been thought of by many expatriates as the ugly sister of its neighbour, Dubai. Yet Abu Dhabi is the seat of government in the United Arab Emirates, and it is also the state’s centre of industrial, commercial and cultural activities. Moreover, as the wealthiest of the emirates deriving most its income from oil and gas, Abu Dhabi supported most of the other emirates, particularly hard-struck Dubai, throughout the global financial crisis.

In doing so, Abu Dhabi halted its growth throughout the GFC, but has since started to continue its expansion. The government is looking to invest massively over the next two decades as part of the 2030 master plan, with the emirate set to outpace Dubai’s construction volume in the next few years. Vast infrastructure projects like Khalifa City and Yas Island (home of the Abu Dhabi Formula 1 GP) are the result of billions of dollars being pumped into the economy. This progress has been carefully planned and it seems as though the government is intent on expanding properly and efficiently. Not surprisingly many leading international firms are either establishing a presence in Abu Dhabi or expanding their operations there to benefit from this substantial investment.

THE LEGAL MARKET

With this expansion and the rising prices of oil and gas, it is to be expected that demand for excellent lawyers in Abu Dhabi is rising. Most of the Magic Circle firms have offices in the emirate, as do most leading US firms. Opportunity is vast in practice areas like construction, energy, oil and gas, projects and corporate, and many more. Whilst most firms have only recently received their permits to open their offices more recently and the while at this point the teams remain relatively small compared to Dubai, there is no question Abu Dhabi is the growth engine of the UAE and also offers some of the best corporate, financing and projects work in the Middle East. Unlike some of the expansion in Dubai however, the magic circle firms are growing their practices in Abu Dhabi based solely on increasing work demand, and this organic pace of growth should ensure a balanced recruitment market in the long term. For any lawyer serious about taking their career to tax-free UAE, considering Abu Dhabi as an option is a must.

LIVING IN ABU DHABI

For lawyers with young families, Abu Dhabi is ideal. Parks, beaches and play areas abound and the international schools are excellent. There is also a large and welcoming expat community which makes the social integration easier.

More generally, the expatriate standard of living is high and the fact that the region is a tax haven means remuneration for lawyers is amongst the highest in the world. Contrary to popular myth, alcohol is available (with a licence!) and English is an official language of the region. Overall, the emirate is also well organized and easy to get around, is only 1 ½ hour drive from its sister Dubai and suffers far less of the traffic issues than many of its neighbours.

If you are interested in working in Abu Dhabi, get in touch with one of our international consultants on +61 2 9266 2900 or ea@ea-int.com for a confidential discussion.

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The Perth legal market is currently one of the strongest markets in the world. While financial market instability characterises most other jurisdictions, this global base of mining and resources is continually growing and offering lawyers across a range of sectors enormous opportunities - both in terms of quality of work and career progression.

AREAS OF GROWTH

The energy and resources sectors in particular continue to grow, with massive ongoing investment spurred by the hunger for resources throughout Asia. This growth will only continue in the future, and expand beyond Asia with massive opportunities in Africa which the Federal Government has recognised with the announcement of a $30 million initiative to promote mining development, with much of this work driven out of Perth.

As a result of this economic growth, the demand for corporate and commercial projects lawyers with energy sector experience has never been greater, along with finance lawyers at all levels, up to partner. Furthermore, there has recently been a substantial demand for commercial litigation, insolvency and workplace relations lawyers, particularly at mid and senior associate levels, as part of a knock-on effect of market growth.

THE INTERNATIONAL INFLUENCE

Perth’s geographical proximity to Asia and the international nature of the legal work in the region has meant that the Perth market has seen continued diversification away from the national top tier options to an increasingly international make-up. Firms like Allen & Overy, Clifford Chance, Norton Rose, Squire Sanders Dempsey and Ashurst have already or are in the process of establishing their offices in Perth, offering local lawyers the opportunity to work for an international firm on Asia’s doorstep. As a result, lawyers are able to experience the best of both worlds by having the chance to work for a global firm, retain their Australian lifestyle and still receive truly international exposure on the back of the firm’s strong international networks.

This situation has led to upward pressure on salaries for lawyers at all levels, with lawyers in Perth now making the same as their counterparts in Sydney. Further, mid to senior level candidates looking for genuine progression are currently spoilt for choice, with larger numbers of top quality firms looking to fill spots in similar fields.

EA International has also seen Perth become an increasingly attractive option for off-shore lawyers as well as those on the east-coast looking for a sea change to a market with a stronger demand for their skills.

EA International is a market leader in assisting lawyers with their local and cross-jurisdictional moves and has long-term, first-class relationships with many of the leading international and top tier Australian firms. This makes us well placed to assist you with your next career move. Whether you are looking for a change of lifestyle, better quality work, opportunity for progression or simply more money we can certainly guide you through the process and ensure you end up in the role that is right for you.

Click here to find out more or contact one of our consultants on ea@ea-int.com or call +61 2 9266 2900.

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The past eighteen months has seen an increasing demand for competition lawyers in various overseas jurisdictions. Both in Europe and Asia where the competition and regulatory frameworks are becoming more and more established the demand for lawyers with competition and regulatory skill set has never been greater.

EA has been assisting a range of international firms in finding suitable qualified Australian and New Zealand talent to join these international teams. We have in recent months secured roles for lawyers in Brussels, London, Hong Kong and mainland China. This a good time to consider your career options if you are a competition lawyer with between 2 and 6 years of experience gained at a leading Australian or New Zealand practice. This is a wonderful opportunity to take your career to the heart of competition law in Belgium or work on truly international and pan European matters in London. Alternatively if you are looking to secure a role in a burgeoning market then Asia offers plenty of opportunity, as the regulatory frameworks are established and international firms are growing their anti-trust and competition law teams in Hong Kong, Shanghai and Beijing. Those with Chinese language skills are particularly sought after.

There has never been a better time for Australia’s and New Zealand’s elite competition lawyers to take their careers to the international level and EA International is best placed to provide you with the best opportunity for you.

We presently have roles with a number of UK and US firms in Brussels, London, Hong Kong and China.

For more information contact us here or give one of our international experts a call on +61 2 9266 2900.

Singapore is often forgotten by Australian and New Zealand lawyers looking to make an international move despite it offering just as much opportunity as the popular jurisdictions of Hong Kong or Tokyo.

In fact, the Singaporean economy is tipped to overtake China as the fastest growing economy in Asia. Last year, the Singaporean economy grew at an impressive 14.7% and is projected to grow at 5% this year which, given the present global financial climate and the maturity of the market is significant growth. Much of this growth is off the back of large-scale infrastructure projects in Indonesia and Singapore itself.

With this continued expansion, the legal market is also growing and many Australian law firms are seeking to establish new offices in the jurisdiction. Additionally, there are opportunities in many of the world’s leading law firms who have run practices out of Singapore for decades.

AN INTEGRATED INTERNATIONAL JURISDICTION

Our client’s practices in Singapore are intimately integrated into their global networks. Unlike the often disjointed approach taken by many Australian firms who struggle to even integrate between capital cities, most large global firms work far more closely together. As a result, as a lawyer in Singapore you would expect to spend considerable time working throughout the region and with colleagues from Hong Kong, Tokyo and London. The work is therefore primarily cross-jurisdictional and of a high quality.

LIFESTYLE

Singapore is also a particularly easy place for foreign lawyers to live due to the fact that English is an official language and because there is a strong expatriate community. Its location makes it an outstanding launch pad for travel throughout the region with the possibility to spend long weekends travelling throughout Malaysia, Vietnam, Thailand or Indonesia. Furthermore, Singapore has a flat tax rate and strong relocation packages, making it a more attractive option than many other global cities. Finally, it is so close to home that it appeals to those who want to experience an international city while still being able to come home regularly and inexpensively.

Click here to find out more or contact one of our international consultants on ea@ea-int.com or call +61 2 9266 2900.

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The Paris legal market is a unique mix of high end local firms and international firms from the UK and the US. As one of the major financial centres in Europe, international firms in Paris have experienced strong growth in the last 12 months, particularly in the areas of banking & finance, projects, M&A and capital markets.

These are the areas which are particularly receptive to Australian and New Zealand lawyers, particularly those who also have a relevant UK or US qualification. Although French language skills are a significant advantage, particularly in M&A where practices tend to be locally focused, lawyers without language skills could make the move to a dedicated English practice, where they will do the same work as their counterparts in London. Currently, EA has a number of roles available for finance lawyers in Paris who have EU working rights.

Click here to find out more or contact one of our international consultants on ea@ea-int.com or call +61 2 9266 2900.

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While financial markets are a little unsteady around the world, the market for financie lawyers is consistent. There is particularly strong demand for lawyers throughout London, Continental Europe, Asia and Dubai with Magic Circle and other leading international firms. The specific type of experience that our clients are looking for varies – from project finance to general banking, asset finance and structured finance.

While merger activity increased markedly from 2010 to 2011 compared to during the GFC, there is still less demand for lawyers working in leverage finance and acquisition finance. That said, for lawyers from Australia and New Zealand, the mix of specific finance experience is considered less important than their quality of experience, the quality of the firm from which they are coming and their willingness to move into a new, often more specialized, area.

EA International currently has some exciting roles in Paris, Amsterdam, Frankfurt, London and many more places. Go to our live roles page to find out more.

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Since 2010, six global law firms have opened their doors in Australia. The recent merger between Blake Dawson and Ashurst has triggered discussion about the globalisation of the Australian legal market and the impact that the merger will have on national law firms. Many in the media are asking whether the global firms are here to stay. In reality, the better question is whether the local top tier firms are here to stay, and if so, in what form?

There is no doubt that there are more international firms on their way, and many of the leading firms in Australia like Mallesons Stephen Jacques have acknowledged they have had discussions with likely suitors. With that in mind, as a lawyer in Australia, you should really be asking what the “top tier” will look like in the next few years, and ultimately how you can position yourself to take advantage of the opportunities international firms present.

TREND TOWARDS GLOBALISATION

The globalisation of the Australian legal market is not a recent phenomenon. Firms like Allen & Overy, Clifford Chance, Norton Rose, Ashurst, DLA Piper, Holman Fenwick, and Squire Sanders join a list which already included many US firms in establishing a presence in Australia. Whether through mega-mergers like Blake Dawson and Ashurst, acquiring complete teams like Squire Sanders or building organically like Holman Fenwick, international firms are making a real success of their moves into the market. The growth of Allen & Overy and the ability of Norton Rose to completely change the image of Deacons is illustrative of this success.

As global firms continue to grow there is no doubt that clients in Australia are coming to assume that law firms operating on a global platform provide a point of difference. This very fact is what has driven the Australian firms to establish their own international networks in recent years. Ultimately, the global strategies of top firms to position themselves in the Asian legal markets is also indicative of preparing themselves for a long-term tie-up.

OPPORTUNITIES FOR LAWYERS

With this shift in the Australian legal scene comes great opportunity for local lawyers, and for those who want to come to Australia or return home. The approach taken by firms like Allen & Overy and Clifford Chance when coming into the market has meant that there is now real opportunity to work in Perth or Sydney in fast-growing truly international businesses with considerably stronger international platforms than any of our top tier. These are real opportunities to get in on the ground floor and make a name for yourself within an international practice. In Perth for instance, Squire Sanders – whose fourteen foundation partners were poached from Minter Ellison – is looking to have an additional 6 partners and 40 lawyers in the next six months.

Having the very best relationships with the world’s leading international firms after years of sending Australian and New Zealand lawyers to over 30 of their offices worldwide, EA International is especially well placed to advise you on your options in the new Australian offices. To hear more about the changes in the local market and how it could affect your career, please feel free to call any of our consultants for a detailed discussion on +61 2 9266 2900.

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The legal market developing in Asia presents some of the most exciting international opportunities available.

In Hong Kong, the market continues to demonstrate a strong demand for Australian lawyers. This part of the world is a truly international and dynamic hub of legal work and culture. The work is first class cross-border work throughout Asia and remuneration in the large firms is at a market leading level. Work is available in a variety of practice areas, but there is particularly high demand for lawyers in the corporate teams, with a strong emphasis on M&A, private equity and corporate funds. There is also a strong demand for banking & finance lawyers in this exciting city.

Language skills are not necessarily a pre-requisite for Hong Kong, but those with fluent to business Mandarin language skills are at great advantage. Language skills are also a great asset to lawyers looking to work in nearby Shanghai. Moving slightly further south, international firms in the vibrant city of Bangkok are also seeking experienced corporate lawyers. A slightly smaller legal market than Hong Kong, opportunities in these areas are generally harder to come by and so this is a unique moment. As in many parts of Asia, language skills are not essential but are a definite bonus.

A notable practice area of growth across Asia is energy and resources. Due to continued growth in London, Asia and the Middle East in this market, there are roles for junior to mid-level energy lawyers looking to take their careers to Asia. With a particular strength in the oil and gas sector, lawyers with experience gained from leading Australian energy teams throughout Sydney, Melbourne, Brisbane and Perth are particularly well received. If you are a lawyer with at least 3 years of experience in one of these areas, email Maciek Motylinski or Michael Bromley or call +61 2 9266 2900 for a confidential discussion. Alternatively, head to our live roles page to see a sample of the roles we have available.

The Middle East is a hot-spot for lawyers. International law firms are expanding to meet the demand of the rapidly growing economies in the United Arab Emirates, Oman, Qatar and Bahrain. The leading international firms are focused on building their practices in projects and infrastructure, corporate M & A, finance and capital markets; however practices like real estate, IP/IT, telecommunications and dispute resolution are also starting to develop quickly.

Despite the amazing career opportunities available in the Middle East, the area is somewhat misunderstood. From a security perspective, the downturn during the GFC and the subsequent redundancies in the region have no doubt left potential candidates nervous. However, healthy growth has returned to the region over the past 18 months and there continues to be a strong demand for quality lawyers across a range of practice areas. Firms are being far more careful in their hiring strategy and are focused much more on experienced lawyers. That said, there are a select number of roles in M&A and finance available for more junior level candidates. The lessons of the GFC have been taken on board and firms continue to hire strategically and for organic growth rather than opportunism.

For experienced lawyers, the Middle East offers “sexy” work. Essentially, the work is mostly cross-border transactions in a growing market with some of the world’s most qualified legal teams. Deals often involve clients from all over the world and so there is scope for business travel to Europe and Asia. On top of that, workplaces are extremely diverse and offer scope to vastly increase your professional network. For those that are looking to start an international career, the Middle East is an excellent place to begin.

From a lifestyle perspective, expat life in the Middle East is very attractive. While not an inexpensive place to live, salaries in the region are tax free and so expats in the “millionaires’ playground” tend to enjoy a very high standard of living. The region is also an excellent jumping off point for international travel. There is also a lot to do in the region and a climate that is ideal for those who enjoy the outdoors and an active lifestyle. Dubai in particular is a great place for families, boasting a huge expat community and support network, together with excellent infrastructure and outstanding international schooling. As one of the world’s highest paying jurisdictions, this tax free haven provides great scope to maximise the lifestyle and travel opportunities on offer within the region and internationally.

EA International’s clients in the Middle East are looking for lawyers with top-tier experience. If you are a lawyer from a top-tier firm with at least 3 years experience and good academics, a move to the Middle East is a fantastic opportunity to develop your skills. To find out more, email one of our international consultants, Michael Bromley or Maciek Motylinski or call +61 2 9266 2900 for a confidential discussion. To have a look at some of the roles we currently have available, go to our live roles page.

Post-review time and end of financial year, the local recruitment market is looking busy. Across Australia, firms are hiring consistently and there are a vast number of options. Boutique and mid-tier firms are currently in growth mode and opportunities abound for performing partners in a wide range of areas to take a move out from large firms.

In Sydney and Melbourne, most top and upper mid-tier firms are in the market for corporate M&A and banking and finance lawyers. Specifically, in the banking & finance area, there is a real demand for regulatory retail work and project and corporate financing experts who are mid-level or senior associates.

Looking to the East Coast more broadly, insurance litigators, particularly those with a focus on public liability and professional indemnity, are also being sought, not only in Sydney and Melbourne, but in Brisbane too. Growth in infrastructure project work has also seen increased demand for lawyers in front end construction, property development and property funds. Leadings firms in that area are searching for lawyers with between three and seven years of post-qualification experience.

Australia-wide, but specifically in the resources boom states of Western Australia and Queensland, employment lawyers with more than three years experience are being sought out by both large and boutique firms, and opportunities in this area abound.

For more information on the local market please contact Shaaron Dalton on shaaron@ea-int.com for a confidential discussion. To see a sample of the roles we have available, see our live roles page.

We are very happy to announce that Shaaron Dalton has joined our team of consultants to focus primarily on helping Australian and New Zealand lawyers find new domestic private practice roles. Shaaron provides over twelve years of strong research-based expertise in the recruitment of legal professionals at all levels including partnership.

Throughout the 1990’s, Shaaron was Principal of the Legal Division at Hamilton Jones & Koller Pty Ltd (HJK), Melbourne, handling search and selection of lawyers at all levels for top tier, mid tier and boutique specialist firms, chartered accounting firms, government departments and agencies, regulatory bodies and public companies, banks and financial institutions. From 2000 to 2010, Shaaron specialised in online recruitment as Marketing Director with Byron Media Pty Ltd, Sydney. For Shaaron’s full profile and details, go to our Experts page.

Even through the northern hemisphere summer (and the recent volatility) we have seen persistent demand for corporate lawyers all over the world and expect this to only increase in the next few months. In Hong Kong, the Middle East and London our Magic Circle and US clients are all very busy in their public and private M & A teams. With the expected strong pipeline of work over the next 12 months they expect to continue to build their practices. There are more than enough positive signs in the market to suggest increased growth, even with increased market volatility, such as Google's acquisition of Motorola Mobility, Solvay’s takeover of Rhodia and Time Warner Cable's purchase of Carlyle Group's Insight Communications.

If moving to a truly global firm and working on multi-billion dollar cross-jurisdictional M & A matters is something you have always wanted to do, than there has not been a better time in the last three years to make a move. If you are a corporate or M&A lawyer with over 3 years of experience from a top-tier practice with honours level academics, we would certainly be happy to discuss your options in more detail. Give us a call or send us an email to find out more. For a sample of some of the opportunities we have to offer, please see our live roles page and select your area of interest.

Despite the current volatility of global equity markets, the demand for strong Australian and New Zealand lawyers across the globe has certainly not softened. In light of the negative press predicting the next great depression, it is natural it fear that we are returning to the recruitment market of 2008-2009. That however, could not be further from the truth.

Firstly, at the time of the GFC, many large international firms had made the mistake of expanding too quickly, and the mass redundancies seen during this period was a winding back of this expansion. Over the last three years most firms battened down the hatches and moved into a period of consolidation where they simply hired to replace. Firms are now seeing retention rates stabilise at normal historic levels (around 15%), resulting in firm's constant need to hire to replace. This conservative approach has seen not seen growth in firm size, but means there is always opportunity despite volatility.

Secondly, even though it may seem like the sky is falling in, global growth was over 5% last year, largely driven by Asia and other emerging markets. Further, global M & A activity is markedly higher than it has been since 2007, with this year seeing a seven-fold increase in the value of public hostile M & A. So although things are unsteady in the US and Europe, global growth continues and we are not moving backwards. Emerging markets will continue to be the drivers for this expansion in the future.

So what does this mean for you? It means firms are still hiring in London, but also in Amsterdam, Brussels, Frankfurst, Dubai, Abu Dhabi, Singapore and Hong Kong and we have hundreds of options in these places for lawyers with the right skill sets and experience in Corporate M & A, Banking & Finance, Projects, Financial Services or Litigation.

Plenty of volatility, but plenty more opportunity.

In mid-2011, EA International has seen a rise in demand for Australian and New Zealand lawyers in continental Europe. In Amsterdam, Brussels and Frankfurt our international clients are looking for experienced lawyers in the areas of competition, debt capital markets, structured finance and project finance.

This is an exciting opportunity for lawyers in these areas to experience a new way of life in an amazing European destination. The high level, cross-border work will be conducted in English and you will have the opportunity to work in a dynamic, international team. We have moved a number of people to these practices over the years and the partners are therefore well aware of the strengths of Australian and New Zealand lawyers and everyone has always given us positive feedback on how easy the moves have been.

If you have 3 or more years of relevant post admission experience in the competition, capital markets, banking or project finance space from a leading national or international practice and strong academics, we have a lot to offer. For a sample of some of the roles please see our live roles page and select your practice area of interest or for a more details discussion feel free to contact Michael or Maciek directly.

Recent weeks have seen a continuation of increased levels of recruitment activity in London, Asia and the Middle East. Following on the heels of firms that have already this year conducted recruitment campaigns in Australia for their global offices it seems more are planned. EA international is at the forefront in managing recruitment campaigns in Australia for leading international firms and with more such events penned in for September now is a good time to evaluate your plans even if your timing is for early to mid-2012.

Even if you are unsure such recruitment drives provide a unique opportunity to meet with relevant partners on the ground in Sydney, Auckland, Brisbane and Melbourne that will no doubt help you form a view. For a detailed brief on upcoming global recruitment campaigns in locations like London, Dubai, Hong Kong, Singapore as well as continental Europe give one of our international experts a call on +61 2 9266 2900 or email us at our contact us page.

It won’t come as news to anyone that the cost of living in Australia’s capital cities has skyrocketed over the last few years and shows no sign of abatement. Whether it is the price of property (in Sydney and Melbourne over 9 x median income), the cost of consumables and staples or the ever increasing cost of energy there is no doubt that although we live in the lucky country, it is an expensive place to be.

(See: www.theaustralian.com.au/news/nation/less-bang-for-global-buck-in-our-capitals/story-e6frg6nf-1226090205317)

For lawyers, particularly those outside of the partnership, even though they make relatively good incomes it is still incredibly difficult to actually get ahead (or buy your own home) in a capital city. This desire to build a nest egg and ultimately enter the housing market has been a key motivator for young professionals to spend some time in an overseas jurisdiction.

Yet while the present strength of the Australian dollar has certainly brought this into question, what most people fail to see is that given you will spend significantly less money in many of these cities you will still be able to save far more than you can in Australia. Naturally if you go to Cayman or Moscow or the Middle East with low tax rates and high salaries it is an easy equation to work out, however for the majority of lawyers who first move to London it has been a cause of concern. Clearly London has never been the place to go simply for the money. Yet the negativity we sometimes see around the strength in the dollar is actually misplaced when considered in light of the real cost of living in London (and compared to that here). You can still save money, enjoy the European experience and come back a much better lawyer whether the Australian dollar remains at historical highs or returns to its long term average.

Australia’s resources boom has had a dramatic impact on the legal market’s in Perth and Brisbane. With global law firms opening offices in Perth on the back of skyrocketing levels of investment in mining and energy projects, the market for lawyers is booming. The story is much the same in Brisbane, with the growth mostly prompted by an increase in large-scale infrastructure projects and extraction of resources such as coal seam gas.

EA International has long worked with the leading firms in these jurisdictions and has seen a marked increase in the number of opportunities available in energy and resources, construction, infrastructure and corporate. These highly competitive, fast-growing legal markets are offering increasingly lucrative deals to lawyers with such experience.

If you are a lawyer with experience in one of these areas from a leading national or top tier firm looking to take you career to the heart of the resources boom, we would like to hear from you. For a sample of some of the roles on offer see our live roles page and select your practice area of interest.

EA International has long worked with many of the leading UK and US law firms in the Middle East.

and we are pleased to inform a marked increase in the level of activity in Dubai and Abu Dhabi. We are now seeing a consistent demand for quality transactional lawyers across a range of practice areas including banking and finance, corporate/M&A, energy and resources and major projects.

(Watch: Dubai Tourism Campaign Video)

If you are a lawyer with 3+ years of experience in one of these areas from a leading national or top tier firm looking to take you career to the Middle East we would like to hear from you. For a sample of some of the roles on offer see our live roles page and select your practice area of interest.

The Lawyer, the UK’s leading legal publication.

Linklaters sent partners and HR representatives from various offices including London and the Middle East, interviewing over 50 outstanding lawyers in Sydney, Melbourne and Auckland.

The firm ultimately hired across a range of global offices and practice areas including banking and finance, corporate/M&A, capital markets, energy and resources, major projects and litigation. Linklaters was the first international firms to conduct such a campaign since 2008 and we are pleased to have been able to manage such a significant global push by one of the world’s pre-eminent commercial firms. The campaign was a strong demonstration of Linklaters continued commitment to the region and their long history of hiring Australia and New Zealand’s best legal talent.

Following on from the campaign make no mistake that Linklaters continues to want to hear from great lawyers across a broad spectrum of practice groups and we are naturally well placed to discuss these options with you further. If you would like to find out more please contact Maciek Motylinski or Michael Bromley for a confidential discussion.