02 Dec Melbourne Update
With the official opening of Montgomery’s Melbourne office in June 2024 (hello Collins Street!), it’s been fantastic to finally have a local presence in this vibrant city and buoyant legal market. Over the past 6 months, we have observed that our clients across the board are experiencing a significant increase in demand for talent across various practice areas. With the year coming to a close, we have also seen an uptick in lawyers considering a move with the aim of having a new role locked in before we all take a well-deserved break over the holidays.
Banking is Back!
As a practice area that has been relatively quiet over the past twelve months, we have seen a considerable shift in the need for Banking and Finance lawyers, namely at the Associate to Senior Associate level, across major national and international law firms actively seeking the best talent. Contrary to 2023 and the most part of this year, some firms are also open to sponsoring overseas candidates which is a welcomed opportunity for the backlog of international lawyers chasing the Australian dream.
Energy & Projects
Melbourne, one of the hubs for renewable energy, resources, and infrastructure projects in Australia, is experiencing continuing demand for legal talent in these areas. Transactions stemming from Australia’s energy transition have notably increased, signalling an ongoing need for lawyers with projects, corporate and/ or real estate backgrounds who are keen to be part of this monumental shift. At Montgomery, we are working with law firms and energy companies who are desperately seeking quality talent in this space. Now is the time to seize great opportunities in this space.
Corporate
The conversation around corporate roles centres on when Melbourne will see a notable surge. Demand for corporate lawyers has steadily gained momentum in Sydney in recent months, with expectations that Melbourne will soon follow suit.
Recent discussions with clients have highlighted a warming trend in M&A and ECM work, suggesting 2025 could be a standout year for mid and top-tier firms.
Overseas we go!
As global markets continue to rebound post-2020, we’re seeing renewed recruitment activity in key cities like London, Dubai, and New York. This recovery is sparking an increase in Australian (and New Zealand) lawyers, particularly corporate, finance and projects lawyers, looking to take their expertise overseas. No doubt, the Melbourne market will naturally feel the impact of this shift (when lawyers begin to spread their wings overseas) which in turn, will create local opportunities to fill these gaps.
Reach out to the Melbourne team if you would like to hear about other market trends and explore opportunities.
Tiffany: +61 434 102 263 or tiffany@montgomeryadvisory.com.au
Ravi: + 61 430 273 414 or ravi@montgomeryadvisory.com.au
