A new financial year brings renewed enthusiasm and new optimism to the legal market providing what the job market hopes is “a fresh chapter”.

According to Ricky Mui, legal manager, Robert Walters, the first half of 2010 saw varied level of recruitment activity and demand for certain areas of legal expertise. “Prior to Chinese New Year and Easter, both employers and candidates were showing interest in the market, although they remained highly cautious and were not ready to make any commitments. Many candidates were waiting for salary reviews and bonuses to be paid in order to re-assess their options,” Mui said.

But a new financial year is the time for businesses to gain or lose key contracts, providing more legal work for firms, and also increased legal staffing needs. Fresh financial budgets also provide the means to strengthen legal teams where necessary to add value and allow the business to grow.

Lawyers with financial services experience and in-house commercial law candidates who are able to provide advice around trade practices, competition and intellectual property will be in high demand, as will lawyers with property and employment experience, says Lui. ALB