Insights into the In-House Legal Market

What you might have seen from the start of 2022 is many articles or posts talking of the great resignation and how the market is hugely competitive. The goal of this blog is to try to give some insight into what we have been seeing so far, specifically in the In-House legal market. 

Practice Areas 

The market has been buoyant since the start of the year as we see companies hiring freezes coming to an end and pre-pandemic plans being able to take shape once again. This has led to a variety of roles and companies coming into the Irish market looking for Solicitors from a variety of teams. 

One of the most popular specialities we have seen is candidates coming from a commercial contracts background, this is to be expected due to the nature of the role an in-house counsel can play. This can be coming directly from the private practice or a candidate looking to move within their current company, as the market is so competitive it is not essential to be coming from an in-house background but an advantage, another nice to have is the experience on a secondment. 

There has been huge scope to what other areas our clients have been looking to hire from. These include Corporate, Regulatory, Commercial Litigation, and Employment but every day we are seeing new roles for candidates with different skill sets. 

We have seen an openness from clients to be flexible on PQE of a candidate or what team they are coming from. We would recommend applying or reaching out about any roles of interest as you could be the right person for them, they will give you time to understand a new area and support you in that. 

Industries 

It has been great to see such a variety of companies looking to grow and expand their in-house legal team. The main industry that is hiring in-house remains to be the Technology and Pharmaceutical space, due to the size of established businesses within the Irish market. 

We are seeing a rise in Fintech companies coming into the Irish market looking to grow out their EMEA presence with many HQs being set up in Dublin post-Brexit. There continues to be a steady stream for the aviation market in Ireland as they continue to pick up from Covid as well as the fallout of the Russian sanctions. 

Continued FDI should continue to see multiple industries grow in the current market as well as the growth of relatively newer spaces like Renewable Energy and MedTech. 

Flexible Working Models 

One thing that has become a key factor when looking at your next role is the working model offered by the company. It has been great to see a lot of businesses and firms embrace this new way of working. Still, a new phenomenon, some industries have not embraced it as much as others, but this was to be expected. 

Luckily many of the companies we are working with are fully embracing this new type of working, they have listened to current staff and what is on the market to realise this is what is best for themselves and the company going forward. 

We work with agile forward-thinking clients who have a work-life balance as a main priority to their staff, everyone works on their own so if it is 2-3 days in the office or remote working that is your preference companies have been really open to what will work best for their staff. 

Salaries/Packages 

With the market being as competitive as it is currently, we are seeing an increasing number of in-house roles accepting the fact they will have to attempt to get as close as possible to the salaries of those in private practice if you are to entice someone to make a move.  A variety of factors will come into play when looking at what a company will be able to offer in relation to salary or package. 

Some candidates might be looking to make a move in-house for a better work-life balance, some might want to look at being in a more commercially focused role. What we have seen is that companies at the early stages of setting up their legal function in Dublin will offset the potential workload with higher salaries. We have seen companies offering from the ranges of €90-120k+ DOE to candidates to help them in the early stages. You need to be confident and prepared to start as a potential standalone as you may be used to coming from a well-established team within a firm. 

Alternatively, we see clients and companies manage around the fact they might not have the same type of budget as the larger companies set up in Ireland. They might look to have a smaller salary range but can offer stock options within the company that longer term might be a better outcome. It is important you consider all factors and have a definitive idea of what your motivations are for a move and that it is the right one for you. 

You will have a new lease of life when your bonus structure has changed, you can say goodbye to billable hours and business development. You can change your focus to what is best for the company and what will help take them forward without the pressure of having to answer to clients. 

It is an optimistic time to be looking at the in-house legal market with some of the most exciting companies now looking to hire in Ireland. We want to help you find that right fit and make sure that the next move is the right one. 

If you have any questions on the current in-house legal market or want to get an idea of if now is the right time for you. Please reach out to my email at z.deboe@masonalexander.ie and we can set up a call.