By Annie Dang
Companies in need of more in-house legal capacity are capitalising on the availability of strong talent as private-practice lawyers seek broader and more challenging roles in-house. This is the finding of a recent market update from legal recruiter Robert Walters.
“Unless lawyers are looking to proceed to a path towards partnership, most of them will look for in-house roles,” said legal division manager in Hong Kong, Ricky Mui. “Lawyers with approximately 2-5 years’ PQE are the most marketable in the current market, especially in areas such as general banking, derivatives, employment and capital markets.”
In-house salaries having grown around 10% during the past 12 months across all sectors is a good sign for candidates. “The market is improving and companies are paying in-house salary increases in line with market rates. Companies will need to be competitive when it comes to salary reviews, in order to attract and retain the best talent in the in-house market,” said Mui.
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Hong Kong in-house salary ranges 2010
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PQE
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Permanent salary pa (HK$)
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3 years
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$770k–$950k
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5 years
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$880k–$1.1m+
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7 years
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$970k–$1.3m+
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Source: Salary survey 2010 half-yearly market update, Robert Walters Hong Kong
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