Legal salary survey finds ‘significant confidence’ in Irish market

The legal recruitment specialists found that NQ lawyers in Ireland were seeing top-end salaries of up to €66,000 this year within the top tier Irish law firms. Junior partners in Ireland can expect to achieve salaries around the €150k mark this year. Domestic competition for associates has resulted in a marked increase in salaries at associate level, notably when law firms are hiring from their direct rivals or when recruiting Irish lawyers returning from London.

Thomson Legal noted that the in-house market in Ireland continues to be buoyant and diverse. While the financial services market is still recovering to a certain degree, there has been a substantial increase in in-house roles within alternative sectors including technology, social media and pharmaceuticals.

In such a resilient market, Thomson Legal found that nearly three-quarters of in-house legal teams in Ireland have strategic plans to hire additional lawyers in the next 12 months. Additionally, more than half of in-house lawyers in the survey felt that Brexit has the potential to increase in-house opportunities.

Thomson Legal also commented that Irish lawyers considering a move to London or abroad with strong transactional backgrounds in areas such as corporate, banking, finance, asset management and funds will find plentiful opportunities with the ‘Magic Circle’, US and national/international law firms. Lawyers with more niche skill sets will still find a move to the City or overseas possible but are more likely to find few options than in previous years.

Speaking to Irish Legal News, David Thomson, director at Thomson Legal (pictured), said the Irish market is “going through a period of significant confidence”.

He added: “Although, it is a curious time and the impact of Brexit and indeed, recently developments in the US, will be very important for investment in Ireland. Already we are seeing Irish lawyers working in the UK considering their long-term plans with many now having a return home firmly on their radar.

“Equally so, the potential of new UK based law firms and companies considering entry to the Dublin market has the potential to create more opportunities - however as to what extent still remains unclear.

“What is certain is that it is expected to be an interesting twelve months for the legal sector in Ireland.”