Looking for a Job in Law but unsure about what sort of methods can work for you? You might have tried various networking events, or social networks but things might still be looking tough. So what are the best ways to find a law Job?
According to an article by Brian Tannebaum, It is important to analyse your interests and skills and work to possess a specialisation. It’s not just about ‘niche’ practices but also finding a specialisation within your practice. You need to do a lot of research in a particular area instead of just working on every single area of legal industry.
It is also suggested to write about your specialisation or something that is in your area and putting a lot of research in it. Make it something that is relevant to your practice.
Furthermore, people looking for job in this field need to understand legal industry and the latest in the industry. The Legal industry includes all companies that provide legal services. Barristers, legal support offices, solicitors etc. are all part of it.
Market research by IBISWorld’s Legal Services is helpful to understand the legal market size and its further growth potential. According to the research, the Global Financial Crisis has caused a decline in the industry and the last few years have been very challenging for the industry. However, though revenue has dropped, profit margin has remained high. In fact revenue continued to grow throughout the decade 2001-2010 though most growth came from increase in price and not in volume.
According to an article by George Beaton in 2010, as a result of recession in Europe, there has been a good amount of interest shown by international players in Australia. For instance, entry of International Law firms Allen & Overy, and Norton Rose. The chances of mergers and acquisitions also increased as a result of competitive conditions during those times.
Some important industry stats according to this research are:
|Annual growth 08-13
The Legal Industry often depends on technological knowledge and skills. The advancements in World Wide Web, introduction of web 2.0, new software, mobile applications, and advanced information systems have all made positive impacts on the industry. However, the advancement in technology doesn’t mean the industry does not depend on labour anymore. It is still affected by the overall increase in labour costs. After all, labour costs are expected to account for estimated 38% of industry revenue.
Finally, if you are keen on what sort of roles or positions open up in this industry then it is best to look up the jobs at a specialist recruitment website such as www.lawjobs.com.au. If you check the website you will notice various vacancies in this industry such as Project Finance Lawyer, Property lawyer, corporate / debt restructuring lawyer, insolvency / restructuring lawyer, insolvency litigation lawyer, senior associate corporate lawyer and much more. Most of these positions require two or more years of experience and such positions offer a handsome salary with some salary packages sitting at more than $200k per year.