It has been an interesting start to 2023 in the legal finance & accounting world. The mid-level market has remained busy with a steady flow of law firm clients continuing to recruit across a variety of roles.
The legal finance space has typically always been a jobs rich market, with the need for experienced candidates presenting the greatest hiring challenge. It is safe to say that this hasn’t changed.
There has been a significant focus on benefits and salary budgets to remain competitive in a candidate-short market.
Legal Cashiers and Billers are in high demand
We continue to see a significant demand for experienced Legal Cashiers and Billers. Whilst salary budgets have increased slightly, the challenge of attracting suitably qualified talent remains.
Last year, Legal Cashiers were commanding higher salaries and now firms are typically paying up to £45k for experienced Legal Cashiers and closer to £55k for Senior Cashiers, which is more in line with market rates.
It’s a similar story for experienced Legal Billers, with salaries for experienced Billing Co-ordinators edging into the £50-55k bracket, dependent on experience.
The non-transactional finance space has also been a hub of activity this year.
We are continuing to see an increased demand for experienced Pricing Analysts, Finance Systems Analysts and Management Accountants.
Pricing is an area which continues to see significant growth and investment. Law firms are becoming increasingly open to approaching talent from outside the sector in order to fill their roles and the salary budgets remain competitive in this area with most firms paying up to £75k for experienced hires.
Firms continue to invest in systems upgrades and developments and therefore the need for experienced finance systems specialists with Elite 3E and Aderant experience remains high.
Salaries in the systems space remain competitive with many firms paying up to £70-75k to secure the right calibre of candidate.
Hybrid working policies are now more clear, with 3 days in the office and 2 days working from home being the preferred split for employers.
Hybrid working remains top of the priority list for most candidates, perhaps second only to salary for some, and it has become almost expected that firms will offer some type of hybrid working.
As a result , it has proven to be extremely challenging to recruit for roles where there is no hybrid working available and we believe this will continue to be the case for the foreseeable future.
For more in-depth market trends, download our latest Legal Finance & Accounting Market Trends Report here.
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