Legal Finance & Accounting Market Insights Q2 2017

Published on 5^th April 2017

Following the uncertainty at the end of 2016, the legal finance recruitment market has been busier than ever in recent months. Job seekers have the confidence to move and take risks in the market, and a significant number of new roles have become available due to organic growth.

Skills in demand

Billing roles have been in high demand since the beginning of 2017, however many experienced billers are looking to move into a revenue/partner facing role. Pure billers are harder to come by.

E-billing continues to be a sought-after skill set and there is currently a general lack of these candidates in the market as this is a newer area within legal finance.

Experience of Elite 3e remains highly desirable due to the number of firms upgrading their software, and demand for this will continue to grow.

On the temporary and contract side, many Legal Cashier roles have become available while on the permanent side, we have seen a rise in Credit Control vacancies.

Commercial/Pricing focused finance roles continue to be a growth area for the legal sector and we have seen a high demand from revenue controllers wanting to transition into these positions. Many have been able to transition successfully due to a lack of experienced pricing professionals in the market and because revenue controllers have the relevant skill set to evolve into a commercial role. i.e. their existing partner-facing skill sets, exposure to rates and strong numerical skills.

We have been speaking with many legal firms about their business models in this area and there has been a focus on senior business partners to help look at utilisation, efficiency and profitability.

Mergers & Acquisitions

One of the most significant in Q1 was the Norton Rose Fulbright and Chadbourne & Parke merger.

Advice for employers

Don’t miss out on top talent due to slow decision making. Experienced legal finance professionals are in high demand and we are finding that they have a large volume of roles to choose from so they will not be in the market for long.

Be open minded to considering candidates from outside of the legal sector, they can add a really interesting and forward-thinking new perspective.

We recommend working closely with us and asking for updates on the market and the good candidates we meet, even if there isn’t a live vacancy. Having informal meetings with potential future employees will allow you to keep ahead of the game and to be able to have your pick of the best people.

Advice for jobseekers

Move quickly when you see roles you want to apply for (and give your consultant feedback on the ones you aren’t interested in).

Do not delay when arranging an interview and pass on your interview feedback quickly.

Finally, communicate with your recruitment consultants throughout the process and be honest about your thoughts and where you are with other applications. This will enable them to better assist you throughout your job search.

Legal Finance & Accounting
Salaries Q2 2017

* Notes on salary table

1. Titles and levels vary from organisation to organisation.
2. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
3. 12-month base salaries are assumed.
4. All other benefits and bonuses are in addition to these figures.
5. Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances.