Legal salaries and recruiting trends in 2024

31/01/2024 – Conservative budget management and increasing demands on legal experts due to stricter guidelines dominate the corporate landscape. The demand for qualified legal professionals remains high, while the skills shortage continues to pose a challenge. The current Robert Walters Salary Survey showcases the development of salaries for legal professionals and provides an outlook on the labour market in 2024.

Current developments in legal recruiting for 2024

1. Budget cuts

Companies need to operate more efficiently, directly impacting budgets for legal departments. These budget cuts necessitate an adapted HR strategy.

2. Shortage of skilled labour

The search for qualified lawyers intensifies as the demands on skills increase, while the market offers a limited supply.

3. Data protection/IT

With increasing digitalisation, the need for legal expertise in the areas of data protection and IT law is also growing, especially in in-house positions.

Strategies for future-orientated HR management

Balancing salary expectations and budget restrictions challenges companies to find innovative ways to attract and retain legal talent. Besides competitive salaries, benefits are increasingly crucial for successful recruiting.

If you are also looking for suitable legal professionals, please submit your job description and we will contact you as soon as possible to assist you.

Prospects for applicants

The market favours lawyers who can cover a broad spectrum as in-house generalists. In the in-house sector, experienced professionals are in demand, while law firms also offer opportunities to lateral entrants and beginners. There is particular demand in the specialisations of data protection & compliance for in-house roles as well as private equity and M&A in the law firm sector.

The most sought-after profiles are currently Head of Legal, Compliance Officer and (Senior) Legal Counsel, all of whom can expect rising salaries, which 70% of the companies surveyed are quite prepared to match.

Here you can find our vacancies in the Legal department.

Salary trends in 2024

A slight increase in salaries in the legal sector is expected for 2024. However, this increase doesn't align with the rapid growth of previous years but corresponds to an adjustment of salaries with the increased demands of the market. For Legal Counsel, this means a salary increase of up to 30%, for the Head of Legal 6.7%, and Corporate Lawyers can expect an 18% salary increase.

The year 2024 promises to be another year of change and adaptation for legal professionals, with firms and candidates alike required to show flexibility and a willingness to evolve to meet the new realities. 77% of legal professionals surveyed by Robert Walters say they are considering a job change in the coming year.

For more in-depth information and detailed insights into salary trends in the legal sector, visit our full salary survey 2024.