As part of “The Qualification Season” – a series of blogs by CapeClarke aimed at trainee solicitors looking to qualify in September 2016 – 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 2008-2011 has been well-documented and for obvious reasons, banking lawyers were amongst the first to be hit by the recession. The past four years have seen banks increase their lending (particularly in the past 24 months), and with law firms having reduced their numbers over the past few years, banking teams have been very busy.
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 (or, indeed, a recovering market), you would be heavily utilised and quite nicely rewarded. Already, there is a real shortage of banking solicitors who qualified around 2009-2013 making you a more valuable commodity to expanding practices.
September 2016 opportunities
We would anticipate a number of vacancies (both internal and external) from certain larger law firms and a real interest in available high-quality trainees looking to move from national or City firms.
If you have been thinking about a move or would just like some general advice about options in the market, please feel free to contact Terry Cape or Chris Clarke on 0113 2385965.
CapeClarke is a leading niche legal recruitment consultancy operating across Leeds, Manchester, Sheffield, Newcastle, 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.