As part of The Qualification Season, a series of blogs by CapeClarke aimed at trainee solicitors looking to qualify in September 2019, 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 six or seven years have seen banks significantly increase their lending and banking teams have been very busy.
Is this a good career option?
The recession proved 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 those who did a more valuable commodity to expanding practices and we can see this trend continuing given it is typically not as popular as a qualification option as corporate or real estate.
September 2019 opportunities
As has been the case in recent years, 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 one of our dedicated consultants on 0113 2385965 or 0161 3000750.
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.