Both law firms and in-house legal departments increased hiring activity in late 2020
The recruitment of legal talent in Singapore by law firms and in-house legal departments is on an upward trajectory, according to the results of a study conducted by global executive recruitment group Ethos BeathChapman.
“With the roll-out of COVID-19 vaccines restoring market confidence, the legal recruitment outlook in Singapore is positive,” said Linus Choo, head of the group’s Asia legal recruitment practice.
The recruitment market had floundered at the start of 2020 during the onset of the pandemic, with many law firms in the country instituting pay freezes and cuts. Nonetheless, the study revealed that through these measures, the majority of firms were able to retain staff as well as streamline operations to bolster efficiency and limit cost.
“Singapore’s legal industry has not been immune to the effects of COVID-19 but has shown weatherproof buoyancy in its ability to adapt, pivot and digitalise,” Choo said.
As 2020 drew to a close, hiring activity began to rebound, with firms snapping up junior lawyers at the associate level in fields like labour and employment, fraud and regulatory investigations and restructuring and insolvency. Ethos BeathChapman said that this trend has continued into 2021.
In addition to developing young talent, law firms have also begun establishing various career paths for senior lawyers, highlighting proficiency in different languages as a skill sought after by many firms in line with firms in Singapore winning regional mandates.
“Just as digitalisation, adaptability and agility kept the legal industry resilient, lawyers must also be prepared to upskill, adapt and pivot into growth areas to stay relevant in our post-pandemic world,” Ethos BeathChapman said.
Within the in-house space, in-demand areas include logistics and shipping, e-commerce and digital payments, private equity, renewables, asset management, healthcare, pharmaceuticals, life sciences and technology. IP and data privacy and protection specialists in particular have become popular in the market given the recent implementation of amendments to the Personal Data Protection Act in Singapore.
The results of the study were detailed in Ethos BeathChapman’s 2021 Singapore Legal salary report, which was released earlier this month. The study also looked into the salaries of private practitioners as compared with those of in-house counsel in 2021.
