02 Dec All Ab(r)oad!
2024 has been yet another “year of two halves” in the Sydney private practice market. January to June was a continuation of 2023’s fairly slow, “jeez my mortgage is expensive” or “we’ll only consider university medallists now” trudge. Good work was done, placements were made but it wasn’t very exciting to be honest. Lawyers were biding their time; law firms were enjoying artificially high levels of retention.
July 1st this year heralded a distinct change in sentiment however and things got chaotic quickly. Despite the craziness of the world, talk of falling interest rates and a general, global sense of us all needing to get back to work seemed to sweep the market rapidly. Over the following weeks, vacancy counts somewhat skyrocketed; some firms who’d had hiring freezes in place turned the dial to defrost, corporate lawyers started to feel special again and key candidates were picking up multiple interviews and (mostly) polite fights were breaking out.
This resurgence in Sydney has happened rapidly but has coincided, and is being fuelled by, another tangible shift – London has woken up and she’s headed for the coffee machine. We were already seeing an increasing number of LinkedIn updates from Australian lawyers announcing their arrival in the UK but once September arrived, the traditional time in the UK when all the lights come back on, seats on that train have been selling faster than Oasis tickets. It’s a daily occurrence in our conversations with clients now to hear how they’ve had multiple resignations from their M&A, TMT, projects and even disputes teams and 90% of the movement has been to roles overseas. There is a sense of genuine concern in Sydney as firms attempt to patch the widening gaps in their teams whilst overseas firms continually punch new holes in their bucket.
Trains are leaving in all directions right now so if you’re a top-tier lawyer with eyes on the overseas prize, Montgomery is dual headquartered in Australia and London and there’s no one else with our level of experience and connectivity who can better advise you on your move. Alternatively, if you’re at a mid-market firm and seeking a step up the tiers, perhaps to stage your own overseas move down the track, there are abundant shoes that need filling and you’re increasing going to be the hot local commodity.
TL:DR – there are jobs everywhere, you just have to get on the train. Tickets are free and we have exceptional and discreet tour guides.
Matt Harris: +61 411 857 036
