Secondment packages for expatriate lawyers coming into Asia have changed significantly as local talent present cost-effective, well-skilled alternatives in the face of the aggressive growth strategies many international firms have for the region.
“Over time, I’m seeing less of a distinction between expatriate and local candidate for positions,” Freehills Singapore Practice Leader George Cooper said.
“Once upon a time there is a dichotomy between the two and the expat candidate would expect more generous compensation and benefits [than his local compatriot]. I’m seeing that gap narrow over time, employers are becoming less concerned about where you come from and simply more concerned about your skill set and whether you’re right for the job,” Cooper said.
Norton Rose Corporate partner Jill Gauntlett agreed that globalisation is a factor that has helped streamline add-ons included in packages, as workforces become increasingly mobile.“The gap between the expat and the locally hired lawyer is narrowing because with an increasingly mobile workforce, secondments are becoming less common.” Gauntlett said.
“It’s all about what has to be paid to get the right candidate. And expat packages have changed quite a bit. Once upon a time it was standard to have all sorts of bells and whistles. I’m seeing many companies move away from that and simply pay the overall remuneration level that is necessary to get the candidate they want,” Cooper said.
With international firms all gunning for a slice of the pie in Asia, Cooper believes opportunity abounds for both local and expatriate lawyers.
“Generally you’ll see a mix between foreign lawyers and local lawyers in international law offices in Asia. I think you need that, and even if over time there is a preference towards employing locals, there will still be opportunities for lawyers to transfer into Asia,” Cooper said.