Legal NQs' Career Surgery: Should I Stay or Should I Go?

In today’s legal landscape in Hong Kong, newly qualified (NQ) and junior lawyers are encountering significant hurdles. Many who were fortunate enough to secure positions with their law firms after completing their training contracts are now facing a crucial decision: should they remain with their current firm or seek better opportunities elsewhere?

This predicament is particularly relevant for those who have been retained but not in their desired practice area. Should they continue in a practice area that isn’t their first choice, or should they try to find a role that aligns more closely with their interests and career goals? It’s a tough decision, no doubt, and one that comes up frequently in my conversations with junior lawyers.
The grass is always greener on the other side, but it’s important to remember that comparison is often the thief of joy. In a market where many junior lawyers are struggling to find roles, those who have managed to secure or retain a position should consider themselves fortunate. At the very least, they are gaining valuable experience at a law firm, an opportunity that many others do not have.

Global Legal Market Trends

Globally, the legal market is also experiencing significant challenges. Higher interest rates, geopolitical uncertainty, and continued supply chain disruptions have impacted cross-border M&A and overall M&A activities. Economic uncertainty and international conflicts have driven an increase in disputes and arbitrations. Additionally, the rise of digital monopolies and e-commerce has complicated matters, with data protection and privacy concerns adding to the complexity. Despite these challenges, the focus on Environmental, Social, and Governance (ESG) issues has continued to grow, with law firms increasingly using technology to drive productivity and efficiency.

Advice for Junior Lawyers

While there are certainly outliers — junior lawyers who manage to find positions at new firms in their preferred practice areas —these stories are few and far between. As a legal recruiter, my role goes beyond making placements. I strive to provide the best advice I can, based on the knowledge and experience I gain in my role. More than anything, I want to help people find roles they are passionate about, helping them achieve their dreams one step at a time.

Given the current market conditions, it might be wise for those who have positions to stay put for now. This allows them to build their experience and put themselves in the best possible position for their next move, whenever that may be. For those still seeking roles, it’s crucial not to lose hope. The legal market, like many others, is cyclical, and better times will eventually return. In the meantime, those currently job-hunting should focus on gaining new qualifications, acquiring diverse experiences, and trying new things.

Most importantly, they should not lose hope. The good times will return, and those who have faced struggles now will be all the stronger for it.

Here is my go-to strategy for those facing this predicament: 

1.    Stay Informed and Adaptable: The legal market is constantly evolving. Stay updated on industry trends, emerging practice areas, and technological advancements. Being adaptable and open to learning new skills can make you more marketable and resilient in uncertain times.

2.    Network Actively: Building a strong professional network is crucial. Attend industry events, join legal associations, and connect with peers and mentors. Networking can open doors to new opportunities and provide valuable insights into the market.

3.    Seek Mentorship: Finding a mentor can provide guidance and support as you navigate your career. A mentor can offer advice on career decisions, help you develop professionally, and provide a sounding board for your ideas and concerns.

4.    Focus on Building a Strong Foundation: Even if you’re not in your preferred practice area, focus on building a strong foundation of skills and experience. This can make you more versatile and better prepared for future opportunities.

5.    Consider Alternative Career Paths: If traditional law firm roles are scarce, consider alternative career paths such as in-house counsel positions, compliance roles, or legal tech opportunities. These roles can provide valuable experience and open up new career avenues.

6.    Maintain a Positive Mindset: The job market can be tough, but maintaining a positive mindset is crucial. Stay focused on your long-term goals, and remember that setbacks are often temporary. Persistence and resilience are key to overcoming challenges.

7.    Leverage Technology: Embrace technology to enhance your legal practice. Familiarize yourself with legal research tools, case management software, and other tech solutions that can improve your efficiency and productivity.

8.    Enhance Your Soft Skills: In addition to legal expertise, soft skills such as communication, negotiation, and problem-solving are highly valued. Developing these skills can make you a more well-rounded and effective lawyer.

9.    Be Strategic About Job Applications: When applying for jobs, be strategic and targeted. Tailor your applications to highlight your relevant skills and experiences, and be prepared to explain how you can add value to the firm or organization.

10.    Stay Patient and Persistent: Finding the right opportunity can take time. Stay patient and persistent in your job search, and don’t get discouraged by rejections. Each experience is a learning opportunity that brings you closer to your goal.

If you are a junior lawyer, or any lawyer for that matter, looking for a chance, a change, hope, or even advice, feel free to get in touch. We at Star Anise are here to assist you. While we are professionals, we are also people who want to see you succeed and help you however we can.

For those in HR or talent acquisition, if you have roles available now or see them on the horizon, please reach out. We at Star Anise are committed to supporting you and finding the best talent for your needs, with a database filled with talented individuals seeking positions.

Please reach out, and let’s navigate these challenging times together.
 

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