As part of The Qualification Season – a series of blogs by CapeClarke aimed at trainee solicitors looking to qualify in September 2012 – we will give a brief overview of the market conditions affecting many of the core legal disciplines that trainee solicitors look to qualify into.
The next area of law for discussion is Banking.
The Current Market: The decline of the banking sector over the last four years has been well-documented and for obvious reasons, banking solicitors were amongst the first to be hit by the recession. The situation slightly recovery but is nothing to write home about. The next 12 months are quite key as to any measure of progress in banking.
Is this a good career option? The recession has proven that the banking solicitor is vulnerable throughout the bad times, but on the flip-side during a buoyant market, you would be heavily utilised and quite nicely rewarded. In 3 or 4 years time, there could be a real shortage of banking solicitors who qualified around 2011/2012 making you a more valuable commodity.
September 2012 opportunities: It is still very early to say how many NQ banking solicitor positions there will be internally and externally. We would anticipate a small number but there will not be a huge increase on the number last year.
What to do next? This is only a very brief overview of this area of law. For a more detailed discussion of the state of the legal market and your own career options, please contact either Terry Cape or Chris Clarke on 0113 2385965.
CapeClarke is a leading niche legal recruitment consultancy operating across Leeds, Manchester, Sheffield, Liverpool and London. Please feel free to check out our priority legal vacancies by clicking here. Please note these legal vacancies are only a small selection of those we have been instructed on, so please get in touch if you do not see a role which looks suitable.