2023 Job Market Predictions for Lawyers
The trend that we saw in 2022 of the job market for lawyers and legal executives being candidate-driven will continue into 2023. The competition for top candidates is still very fierce, and many firms have a particular need for mid-senior-level candidates.
Additionally, lawyers with strong expertise in fields such as litigation, commercial law, real estate, employment, tax, and family law are in high demand. Therefore, candidates with experience and expertise in those fields have an advantage in the 2023 job market.
What will we see in terms of workplace flexibility this year?
The COVID-19 pandemic changed how we work, with hybrid and even fully remote work becoming much more widely accepted across various sectors, including law. As the pandemic gets further behind us, however, we expect that there will be more of a return to the office.
Candidates should expect to be in the office a few days each week, possibly (hybrid model) and, in some cases, even full-time.
Candidates who land a hybrid or fully remote position should likely expect that during the orientation period, at least in a new firm, they may be expected to be in the office full-time for the first three months.
Could recession fears impact the 2023 job market?
Many economists predict a recession in 2023; however, they expect it to be small and short-lived. This means that smaller boutique firms may be hunkering down, as they have fewer staff and are less able to take a hit.
Nevertheless, larger regional and national firms have more cushion and will be better able to weather a potential recession. These larger firms tend to have more lawyers in a wider variety of law specialties, making these firms more recession-proof. For example, if tax law cases slow down, then securities cases could increase; if real estate law takes a hit, family law cases might rise, and so forth. The diverse practice areas in a more prominent firm can balance each other out and lessen the effects of a recession.
This also means that hiring in various practice areas is likely to remain strong in 2023 – primarily by these larger firms, as certain practice areas are still expected to remain very busy even during a recession.
Contact Life After Law today
If you manage a law firm and are looking to find the right candidates in today’s competitive market, or if you are a lawyer or legal professional looking to explore your options, our expert team is here to help. Contact us today to get started.