Unsuitable means

On the whole, however, the legal market has suffered as a result of the constant bidding wars, as law firms have created demand. The percentage of young lawyers who want to earn at least €75,000 has nearly doubled in recent years. It is mainly the in-house departments suffering as a result, since it is increasingly rare that they are the first choice for new graduates, although work is becoming more challenging.

Legal and compliance departments only profit later, when young lawyers from law firms seek a new perspective and are prepared to accept substantial salary drops. But then the general counsel have to compete with public service, which often seems the better choice for young lawyers with law firm experience. The reason for this is that they will earn less money anywhere other than a large firm, but public service offers a better chance of an attractive work/life balance. Firms in Frankfurt are already sounding the alarm because public service is siphoning off young lawyers looking for a change and the law firm market – hungry for new talent – is losing out.

Top law firms flexing their muscles

Companies Two-speed evolution

Risk management: negligence is no option

Legal tech: creeping revolution

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