Randstad Hong Kong’s 2023 market and salary outlook report includes key labour trends and employer insights on salaries, bonuses, hiring outlooks and talent expectations. Download the full report for more information to guide your talent attraction and workforce planning strategy in 2023.
Companies are actively recruiting legal professionals to navigate the ever-changing regulatory climate in Hong Kong SAR. Conglomerates, tech platform companies and rebounding industries like aviation and fast-moving consumer goods companies have recorded strong hiring activities in quarter 4 of 2022, which will likely extend to 2023.
talent demand movements and developments in the legal industry
1. new in-house legal jobs opportunities
We have noticed 3 talent demands for lawyers from in-house corporates as they build deeper specialisations to mitigate increasingly complex and challenging risks in line with changing regulations and business expansion.
- Data privacy lawyers - Legal professionals with experience navigating data privacy laws in Greater China will be highly sought after.
- Corporate transactional lawyers - to manage software and licensing matters and support traditional corporations expand their digital transformation projects by.
- Litigation lawyers - Companies are building internal resources to work on small-scale cases as well as manage law firms to streamline operating and cost efficiencies.
2. in-demand legal professionals in financial services
The consistent demand for legal talent within the banking and financial services industry will persist in 2023 with 3 key hires.
- Wealth and private banks are increasing their wealth offerings and expanding their coverage in emerging markets and customers.
- Lawyers who code to increase fluidity when dealing with internal stakeholders.
- Green Financing - financial groups are expected to increase their legal headcount for experienced environmental, social and governance (ESG) talent.
3. demand for talent in private practices
Recruitment activities within the private practices will remain rather constant in 2023, as they continue to focus their hiring efforts on fund lawyers, onshore and offshore lawyers as well as paralegals.
- Fund lawyers to advise clients in private equity firms, hedge fund, credit and regulatory matters within Hong Kong SAR and globally.
- Paralegals in litigation, dispute resolution and insolvency.
with multiple legal job options to choose from, talent are being more cognizant of their next steps
More candidates are reviewing the total remuneration package instead of salary alone.
In-demand legal practitioners who may negotiate for additional privileges like sign-on bonuses or a senior job title on top of a 15% pay increment in 2023.
Besides having a decent salary increment, legal professionals are also evaluating the company’s stability and commitment to Hong Kong SAR, potential career development opportunities, as well as work-life flexibility benefits to employees.
download the randstad hong kong’s 2023 market and salary outlook report
The 2023 Hong Kong’s Market Outlook and Salary Snapshot report looks at talent analysis and new salary benchmarks in the following industries:
- Banking & Financial Services
- Accounting & Finance
- HR & Business Support
- Sales & Marketing
- Life Sciences
- Property, Construction & Engineering
- Sourcing & Supply Chain
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Our specialised recruiters partner closely with employers and talent for the perfect match with our true-fit methodology - a qualitative measurement designed to evaluate a talent’s suitability across three dimensions - job fit, boss fit and company fit. Connect with our recruitment consultants for the latest market insights and your talent recruitment needs.