BSA 2024 Legal Salary Guide v3 SPREADS - Flipbook - Side 6
06
While hiring demand was subdued at the end
of 2023, candidates remain optimistic. An overwhelming 92% said they were con昀椀dent about
their job prospects, which is up from 90% in 2022.
For legal professionals, this bullishness is likely a
result of the long-standing talent shortages within
the profession, meaning that skilled candidates can
expect strong interest even during a recruitment lull.
It's also worth noting that the economy performed
better than expected last year, with the UK avoiding
a widely predicted recession despite sharp rises
in interest rates and in昀氀ation.
Nevertheless, the cost of living may be affecting
candidates' motivations in 2023. Better remuneration has always been a major driver behind people
seeking new in-house legal and CoSec jobs, but
a whopping two-thirds (67%) of professionals
ranked it as their top priority last year.
This represented a year-on-year rise of 23
percentage points, while a better work-life balance
(13%) and career development (11%) came a distant
second and third by comparison.