RedLaw Director, Amy Hambleton, looks back at the legal market over the last quarter:
The first quarter of 2018 started with the furore of the Presidents Club Dinner, which drew various lawyers into the public consciousness and set the tone for a spotlight on issues relating to sexism, equality and diversity.
With the deadline on gender pay reporting having just passed, law firms have been under scrutiny to not only reveal pay but to justify the remuneration differentials between males and females. Partner pay gap information is now being released pre-emptively (with more firms coming under moral pressure not to omit this level) to show transparency – all leading on to the backdrop of a legal profession that needs to address the pertinent issue of pay disparity at all stages for lawyers.
Transatlantic mergers continue apace into 2018, with the BLP and Bryan Cave merger going live and the talks of Allen & Overy combining with O’Melveny & Myers adds an interesting dimension to the future of the Magic Circle law firms. The domestic market also continues to combine with smaller take overs and merger discussions aplenty. This is against the backdrop of a busy market, with a raft of lateral hires across all disciplines and the associate market being driven by increased demand from firms at all ends of the legal spectrum. With Brexit still a year away, the legal scene is set for a very busy year ahead.