Here's What Law Firm CEOs think About Your Law Job Future

The credit crunch and other issues have occupied the minds of lawyers in recent months, but what does it mean for law firms in terms of the outlook? LegalWeek published an outlook from top firms managing partners. A sampling: Tim Jones, Freshfields - “Litigation is a big practice area right now. There is an increase in regulatory investgations and company investigations. They are busy areas at this stage in a downturn.”

The view generally is that it’s not so much about firm size as flexibility - the ability to fight for a smaller share of the market. Many feel that the corporate market will continue to be slow but real estate in particular has been hit hard and many Magic Circle firms will move into a more mid-market position while also continuing to focus on their far-flung outposts in Asia and the Middle East for increased deal flow and profits.
A holding pattern has emerged with many unable to predict precisely what may occur next. One thing’s for sure - it’s a changed scene and increases in insolvency, restructuring and litigation make those today’s hot practice areas.