Miriam Kuepper Salary Guide, Market Insight
The 2018 Global In-House Report is an overview of hiring trends from a variety of sources, from the local knowledge of experienced consultants to our regional salary guides through to general market sentiment derived from interviews with senior contacts.
Below is an extract from the German section. The full report contains market insights for Italy, the Middle East, Turkey, South Africa, China, Hong Kong, Singapore, the United Kingdom and North America.
The German Legal Market
In recent years, the German legal market has become almost entirely candidate driven. We are currently experiencing a shortage of talent which has made competition for the best candidates tougher than ever. Both companies and law firms are looking for the same sorts of skillset, background, and years of experience. This is reflective of the increased growth of the German economy in recent years, and the fact that both multinationals and local corporates alike have zeroed in on Germany as a geography where they are keen to concentrate their legal resource.
Looking at the stats may paint a slightly different picture; there is 1 lawyer for every 593 people in Germany. However, Germany is also one of the most litigious countries (per capita) in the world, and this is where much legal resource is focused. As such, the need for strong Corporate and Commercial lawyers is significant, and the pool is shallow.
Compounding this is the fact that lawyers who are in a good role currently are very well looked after and will not move unless it is – in their view - an outstanding opportunity that matches all expectations in regards to salary, location, personal development opportunities, etc. Due to this situation, there is increased competition for talent in Germany. The market has become candidate driven, and companies are needing to think outside of the box in the way that they differentiate themselves from the competition.