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The Legal sector. A safer option during times of uncertainty, or not?

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Is working within Marketing & BD in the Legal sector a safer option during a time of uncertainty and austerity?

As the drama of Brexit plays out daily, the majority of people are left with no choice but to muddle through with the underlying nagging question of – what does this mean for me!?

Having recruited across Professional Services, primarily the Legal sector for the last 16 years, and having worked through the 2007/2008 GFC, I’m left pulling on the confidence of my multiple law firm clients claiming, “they’re not too alarmed at the moment by the fragmented decisions currently unfolding from within our Government”.

Whilst we play a game of deal or no deal - waiting to see what awaits in the big red box, there is understandably natural caution over what to expect, and what reality lies ahead for us over the next few years.

However, as John Lennon said,
“Life is what happens while you’re making other plans”. A career cannot wait for anyone, and most people still have their determined dreams and aspirations. Whether you’re just starting out or confidently climbing the career ladder, there is one sector that I feel is potentially a current safer option - Law. Whilst the Legal sector is not completely devoid of any risk or potential slow down across certain practices, such as M&A, there are certainly many positives deriving from the sector, which we’ve highlighted below:

  1. Deal or no deal – Lawyers are always going to be needed and even more so during a crisis, offering potential growth within this sector.

  2. Law firms are NOT thinking about moving their main head offices out of London!

  3. Most large City law firms already have dedicated Brexit strategy teams.

  4. The top 100 law firms saw a 7% increase in average fee income for 2017/2018 and future predictions are looking steady.

  5. There has already been an increase in workload due to potential Brexit implications for businesses.

  6. US law firms have seen a growth in their London offices – some quicker than they were expecting.

Whilst there is no doubt that we are in a period of uncertainty, it’s not all doom and gloom for recruitment. With several positives currently coming out of the Legal sector, Ambition is still seeing a steady flow of junior to senior level Marketing & BD roles coming onto the market, in which we’re working on across the team. And, not all of them are replacement roles.

We’ve seen a good number of growth roles coming through, so if you’re looking for your next Marketing / BD position, and would like to explore the Legal sector as a suitable option, then I would love to talk further with you.

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