I’ve noticed a growing trend of recruiters sharing their insights on LinkedIn about the sectors they work in, so I thought I’d jump on the bandwagon and share mine.
As the Legal Finance Associate Director at Pentagon Talent, I’ve spent the last seven years specialising in the recruitment of senior finance professionals within the legal sector. My work spans across London and the home counties, partnering with a range of law firms from the UK Top 200 and US Top 100. From CFOs and Finance Directors to Commercial Finance and Tax specialists, I’ve helped match top talent with some of the leading firms in the industry. You can learn more about me and the rest of the team here: www.morganhunt.com/pentagontalent/meet-the-team. With extensive experience recruiting for both permanent and interim roles, I pride myself on providing a tailored, high-quality service to both clients and candidates. Over that time, I’ve seen many changes and trends in the market.
Control
When I first entered the world of recruitment, legal finance candidates were heavily drawn to the big names and reputations of the leading firms. This gave large international law firms a clear advantage in securing top talent, often regardless of other key factors like career progression or personal goals. Candidates would accept an offer based solely on the firm’s name, rather than what it could actually do for their career.
In recent years, I’ve seen this mindset shift, which I believe is one of the positive impacts of the COVID pandemic. Candidates now prioritise their personal motivators and career aspirations when considering job opportunities. The bright lights and prestigious reputations of firms are no longer the main attractions. Flexibility, career progression, and a positive workplace culture have become much more important. In addition, the feeling of being "wanted" plays a big role for semi-passive candidates, particularly when they have multiple offers to consider. As a result, law firms need to work harder to “sell” their opportunities and act quickly, as candidates won’t wait weeks for a decision.
Salaries
Year on year, we’ve seen salary increases across the sector, but in the last 18 months, the jumps have been particularly significant, especially in operational roles like Legal Cashiering, Legal Billing, and Working Capital Control. This shift is driven by market competition, as well as larger firms trying to retain top talent. Traditionally, candidates would move every 2-3 years to progress their careers. However, with the higher salaries now being offered, many are either pricing themselves out of the market or missing out on great opportunities due to unrealistic salary demands (for instance, expecting a £10k-£15k pay rise).
Trends
Legal finance teams have long been seen as 2-3 steps behind finance teams in other industries. This stems from a traditional mentality of "if it’s not broken, why fix it?" However, over the past 2-3 years, I’ve noticed a shift in the roles top-performing law firms are recruiting for. There’s been a big focus on hiring commercial finance specialists, with roles centred around financial planning and analysis, pricing, and business partnering. The need for law firms to have stronger financial leadership is growing, and I believe COVID helped accelerate this, as tighter margins forced firms to adapt.
Another area experiencing rapid growth is in-house tax. Law firms have realised they don’t need to pay a fortune to outsourced accountancy firms when they can hire in-house tax specialists. This has created strong demand for qualified tax candidates with partnership experience, which didn’t exist in most firms 10-15 years ago. It’s been great to see the increasing acceptance of roles designed to bring Public Practice candidates into industry, a trend that continues week after week.
Recruitment and Specialist Agencies
The legal finance recruitment market has always been competitive, with most strong candidates being “passive job seekers.” These candidates aren’t actively applying for roles or engaging with recruiters but are open to the perfect opportunity when it arises. Recently, law firms have shifted towards recruiting directly, trying to reduce costs. Ironically, this often results in higher expenses, as they spend more time attempting to engage talent that simply isn’t interested.
As a recruiter, I take pride in the long-standing relationships I’ve built with candidates over the years. These relationships are built on trust and understanding their unique needs, both personally and professionally. When firms pay a recruiter, they’re not just paying for a CV; they’re paying for the relationship we’ve nurtured with candidates. We understand what motivates them, keep them engaged, and ensure a positive outcome for everyone involved. I’d urge all law firms not to overlook this.
The legal finance recruitment landscape is evolving rapidly, with shifting candidate priorities, salary expectations, and new trends in hiring. Law firms need to adapt to stay competitive, and at Pentagon Talent, we’re here to help you navigate these changes.
Whether you're a law firm looking to secure top-tier finance professionals or a candidate seeking your next opportunity, Pentagon Talent is ready to support you. For more information about our services, you can visit our client page here www.morganhunt.com/pentagontalent/for-clients or register a vacancy directly here: www.morganhunt.com/pentagontalent/register-vacancy.
Feel free to get in touch via email at info@pentagontalent.com, or contact me personally at 0207 419 8939 or sam.vorley@pentagontalent.com.