this product is unavailable for purchase using a firm account, please log in with a personal account to make this purchase.

Select from any of the filters or enter a search term
Calendar
Calendar

Seven trends in the legal job market to watch

Seven trends in the legal job market to watch

By Adam Wakeling


Law graduates looking to enter the job market and lawyers seeking a career change face challenges, but there are also opportunities for those willing to search. Here are seven trends to watch this year. 1. The clerkship-traineeship pathway is changing. In 2014 there were 18,721 lawyers holding practising certificates in Victoria. That year, Victorian law schools released more than 2300 law graduates into the jobs market, compared to 1660 graduates in 2005. With these numbers, the expectation that a majority of law graduates will take a law firm clerkship and then a traineeship may not hold. At the same time, companies have been cutting their legal expenditure post-GFC. According to the 2016: Australia, State of the Legal Market report by Thompson Reuters and Melbourne Law School, demand for commercial legal services fell by 1.9 per cent over 2015-2016, and one-third of firms incurred financial losses that year. Many large and mid-tier commercial firms are reducing their lawyer and partner numbers as a result. When law firms contract in size, there can be a tendency to offer fewer positions to clerks and graduates, resulting in a highly competitive seasonal clerkship market. The media will commonly cite figures stating that top and mid-tier firms are receiving 20 or 30 applications per position. However, the actual odds of getting a clerkship are unknown as it is not known how many applications each student submits. Nor is it known how an applicant's odds improve when they submit more applications. Nonetheless, graduates planning to apply for clerkships and traineeships will need to have very good academic transcripts and CVs, to do in-depth research on the firms to which they intend to apply and the application process, and start their groundwork as early as possible in their degrees. The LIV continues to expand its services for supporting and preparing law graduates as they look to launch their legal careers.

The content you are trying to access is exclusive to LIV members*

To access your exclusive member content please click the 'Already a Member' button below and you will be redirected automatically.

Not a member but would like to find out about the value of LIV membership? Click the 'Become a Member' button below or call our membership team on (03) 9607 9470.

*Note that some content may be exclusive to specific types of members. If you would like to inquire about your access please contact the membership team on (03) 9607 9470.