Although thousands of attorneys will work with a recruiter this year, most will spend less time evaluating recruiters than they do researching airfares on the Internet or on Facebook. A recruiter should play a much larger role in the job-search process than simply relaying information about opportunities, especially when it comes to Asia based assignments. Unlike the practice of law, the legal-recruiting profession is not regulated and does not require any type of license. Yet using a recruiter involves temporarily entrusting the course of your career to another person. As many recruiters turned their attention to the Asia legal markets after the domestic economic downturn, we thought it timely to suggest the following questions when interviewing a potential recruiter to determine their experience and expertise in the Asia legal markets. There are many excellent legal recruiters out there, but not all recruiters are created equal and, most importantly, only a handful of recruiters have yet to gain the experience and the knowledge that the Asia legal recruiting field demands.
Dawn P. Robertson, Esq. March 13th, 2016
If you want to know how an international assignment is really going, ask your spouse. It is well known that the success or failure of a stint abroad can depend largely on the contentment of trailing family members. Below you will find some personal insights gathered from our candidates throughout Asia regarding the practicalities of a move abroad and what helps dependents make the adjustment to a new life. While no single solution will work for everyone, the following suggestions have worked very well for our candidates overseas.
Learn as much as possible about daily life before you leave.
One of our candidates in Hong Kong highly recommends that, if possible, go on a fact-finding trip before you make the move. This may be best completed when you are visiting the location for interviews. You may be fortunate enough to find a home on these initial visits, but even if not, at least you will have an idea of what is available and what you may wish to pack or leave behind. If you have children, be sure to take lots of pictures to show them and pique their interest. This can often help with pre-trip nerves in that it will help you and your family know what to expect, what a new home may look like, where they might go to school, or what the shops and surrounding streets look like. Language lessons can also help, and don't sneer at any offer for cross-cultural training-it can really help.
Dawn P. Robertson, Esq. March 8th, 2016
We are pleased to share this compensation report to provide guidance to our partner and associate candidates. We have gathered information with the help of our law firms clients and candidates and from our in-depth knowledge of the market. Please note that this report isn't all inclusive as we represent mostly Am Law 100 international firms and top local firms in Tokyo, Hong Kong, Mainland China and Singapore.
Premier law firms are offering increasingly competitive packages in order to attract and retain top legal talent throughout the Asia market. Hiring conditions across Asia are showing steady and noticable signs of improvement with new openings in litigation, dispute resolution, project finance, fund formation, capital markets and M&A.
Interestingly, the Hong Kong market for the last twelve months has been experiencing the continued tussle for HK qualified and US, UK and AUS qualified associates and a few American firms continue to pay their Hong Kong and UK and AUS qualified associates at New York-scale salaries starting at $160,000 for first years. However, it is important to note that not all of their competitors in Hong Kong have followed suit and some are waiting to see how these salary changes develop.
The Hong Kong and Beijing offices of US NLJ 350 firms also saw large increases in their lawyer headcounts this year. Beijing firms experienced an 15% gain and Hong Kong firms experienced a 12% gain.
William Wesley March 7th, 2016
Mark Johnson, Litigation, moved from Herbert Smith, Hong Kong to Debevoise & Plimpton.
Martin Lister, Insurance Law, moved from Edwards Wildman Palmer, Hong Kong to Simmons & Simmons, Hong Kong.
Bronwen May, Derivatives law, moved from O’Melveny Myers to Hogan Lovells, Hong Kong.
Gary Li, Corporate Transactional law, moved from Ropes & Gray to Kirkland & Ellis, Hong Kong.
Ben Hammond, Financial Services Regulatory Practice, moved from Slaughter & May to Ashurst, Hong Kong.
Dawn P. Robertson, Esq. December 23rd, 2014
As the global economy continues to feel the effects of the 2008 recession, it faces both short and long-term challenges. But new and exciting opportunities are being created as the world’s markets walk the road to recovery. Southeast Asia has become an area of growth, attracting many firms and attorneys wishing to expand their portfolios abroad. The legal market in Asia is continuing to grow at record speed, changing the landscape for expatriate lawyers with an increase and broadening of opportunities for associates, partners and firms, a rapid and substantial deal flow.
According to the American Lawyer, Am Law 100 law firms had mild gains in 2012. They reported that gross revenue for Am Law 100 law firms was up 3.4 percent, average revenue per lawyer was up 2.6 percent, and average profits per partner were up 4.2 percent. Notably, this growth was uneven and the more successful firms tended to have a strong international presence, and well as a diverse set of practice areas.
Asia is a strong area of international growth and this extends to the legal sector. The Asian legal market is on pace to double in size by 2017, according to Asia Law Portal. Their analysts project the Asian legal market to grow 6 to 7 percent over the next 8 years, creating a strong incentive for U.S. and U.K. to get on the ground floor for fear of being left out. (more…)
Jacob Hansen November 15th, 2013
Although many investors and lawyers are focusing on China and the Middle East, South Korea is quickly gaining attention as an economic powerhouse. The South Korean economy surprised skeptics by growing 0.9% in the January to March quarter. Increases in construction, investments, and exports all added up to push South Korea’s growth rate to a two-year high.
Susannah Griffee May 31st, 2013
The global economy faces a number of short and long-term challenges in Europe and elsewhere. That said, legal activity remains buoyant in Asia and there are many outstanding opportunities for partners considering a move as firms open new offices, replace departing partners or implement strategic hiring initiatives.
According to the Wall Street Journal, Asian related M&A activity for the first six months of 2012 was nearly the same as last year. There were record levels of M&A activity in South East Asia and among other things, natural resources deals compensated to some extent for softer activity elsewhere in Asia.
William Wesley December 18th, 2012
Foreign firms are starting to proactively approach foreign universities seeking attorneys for their China offices. US and UK firms have always been eager to bring over bilingual expats from the US, UK and AUS. Over the last few years, firms have been increasingly focusing on attorneys with exposure in the US, UK or AUS, preferably with a US J.D. or LL.M. as well as international law firm experience. Firms are realizing that strong legal technical skills and a foreigneducation are equally as important as language skills, top local academics and even a book of business. The bar has been set higher, but for those of you who fit this specific skill set, opportunities are plentiful and it’s very important that you make the right decision. It can be difficult in an ever-changing market like China and Japan to make this decision.
Dawn P. Robertson, Esq. November 21st, 2012
Posted In: About Us, Asia Jobs, Asia Market Watch, China, Expat Life, Expat Lifestyle Guide, Hong Kong, India, Middle East Market Watch, Office Openings/ Partner Moves & Promotions, Partner Watch, Practicing in Japan, Recent Posts, Recruiter, Recruitment, Uncategorized
As mentioned in the Wall Street Journal today, China has taken new steps to loosen restrictions on the range in which the yuan trades against the US dollar. The Chinese Central Bank still maintains a relatively tight grip on the yuan by setting a daily “parity” rate for trading the yuan against the US dollar. China until today had allowed the yuan in daily trading to increase or decrease from the party rate by no more than .5%. The changes which went into effect today allow the yuan to fluctuate up to 1% from the parity rate.
Joshua Flagg April 16th, 2012
In the past few years, the Hong Kong Stock Exchange has emerged as a global IPO leader, dominating the market for several years consecutively. The scaled back pricing of a few large IPOs and investor nervousness have done little to seriously alter the financial world’s shift to the Asian market. Likewise, the reclamation by the United States of the number one position in the IPO market has not dampened foreign companies’ appetite for listing in Asia. This interest is hardly one-sided, as Chinese companies are also increasingly attempting to list on American exchanges.
As for Hong Kong IPOs, Canadian based Sunshine Oilsands came to market with the biggest IPO in Hong Kong since the $1.9 billion New China Life Insurance Co Ltd (1336.HK) dual listing in the city and Shanghai in December 2011. It was also one of the biggest offerings in the world so far in 2012, as new listings from Europe, the United States, and Asia lag the mega offerings seen in 2011. Though it has recently endured a loss, many believe that it will rise again as Sunshine teams up with various energy companies and, most importantly, the Bank of China. (more…)
Melissa Katsoris March 18th, 2012