Investment Managers, Private Equity & Family Offices
Following a year of growing legal teams and investment managers hiring legal talent in high volume in 2022, we’ve seen team growth plans slow down for asset managers in the first half of 2023. Following a year of having to compete for the best legal talent by offering the highest salaries in the in-house legal market, coupled with the economic climate affecting deal volume and market confidence, has meant that many investment managers took a back seat on growing legal teams for cost cutting purposes this year. As such, we found that the majority of the roles within this space were for replacement hires. Of those who were still hiring this year, funds lawyers continued to be highly sought after by investment managers, particularly in the private funds space at the 3+ PQE level, which echoes the legal hiring trends last year. However, we saw an increase in the number of commercial and corporate roles surface this year at asset managers, along with derivatives and structured finance, which were typically at the 3-8 year PQE mark.
“Asset managers have continued to offer extremely competitive salaries, despite the continued rise of private practice salaries”
Market Overview London
5
2023
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