THE FINANCIAL  CRISIS & YOU  NSW YOUNG LAWYERS Presenter - Jason Elias  25 February 2009
Origins of the Financial Crisis <ul><li>Subprime Crisis </li></ul><ul><li>Regulatory Regime </li></ul><ul><li>Fall of Blue...
Survey participants 60% 7% 13% 20%
How has the GFC affected your firm? 19% 6% 6% 69%
How would you describe the current job market? <ul><li>Destitute </li></ul><ul><li>Few vacancies </li></ul><ul><li>Existin...
Practices most affected <ul><li>Property </li></ul><ul><li>Commercial </li></ul><ul><li>Corporate/M&A </li></ul><ul><li>Co...
Practices least affected <ul><li>Insolvency/Work-outs </li></ul><ul><li>OH & S </li></ul><ul><li>Workplace  Relations/Empl...
Have you laid off any fee-earners?
Practice area of lay-offs <ul><li>Commercial </li></ul><ul><li>Corporate </li></ul><ul><li>Commercial Litigation </li></ul>
Practices likely hiring in next year <ul><li>Insurance  </li></ul><ul><li>Insolvency </li></ul><ul><li>Dispute Resolution/...
Affect on the overseas market <ul><li>Severe decline in opportunities overseas </li></ul><ul><li>Most serious decline and ...
Challenges for Young Lawyers in next 12 months <ul><li>Job security/retaining jobs </li></ul><ul><li>Delegation and billab...
Advice to Employed Lawyers <ul><li>Differentiate  </li></ul><ul><li>Be observant  </li></ul><ul><li>No &quot;it’s not my j...
Advice to Job Seekers <ul><li>Be patient and positive </li></ul><ul><li>Get experience </li></ul><ul><li>Consider travelli...
FOR MORE INFORMATION OR A COPY OF THE SLIDES, EMAIL  [email_address]
Upcoming SlideShare
Loading in …5
×

Jason Elias- Elias Recruitment- The Global Financial Crisis and Young Lawyers

469 views
393 views

Published on

A brief presentation for NSW Young Lawyers on the current financial crisis- including Elias Recruitment survey of law firms

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
469
On SlideShare
0
From Embeds
0
Number of Embeds
29
Actions
Shares
0
Downloads
14
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Jason Elias- Elias Recruitment- The Global Financial Crisis and Young Lawyers

  1. 1. THE FINANCIAL CRISIS & YOU NSW YOUNG LAWYERS Presenter - Jason Elias 25 February 2009
  2. 2. Origins of the Financial Crisis <ul><li>Subprime Crisis </li></ul><ul><li>Regulatory Regime </li></ul><ul><li>Fall of Blue Chips </li></ul><ul><li>Confidence </li></ul><ul><li>Credit Crunch </li></ul>
  3. 3. Survey participants 60% 7% 13% 20%
  4. 4. How has the GFC affected your firm? 19% 6% 6% 69%
  5. 5. How would you describe the current job market? <ul><li>Destitute </li></ul><ul><li>Few vacancies </li></ul><ul><li>Existing employees </li></ul><ul><li>“ Employers’ Market” </li></ul><ul><li>Quantity or quality </li></ul><ul><li>Reluctance to move - &quot;last one in, </li></ul><ul><li>first one out“ </li></ul><ul><li>Unsuccessful advertising </li></ul><ul><li>Differences between recruiting in top tier, mid tier, and smaller firms </li></ul>
  6. 6. Practices most affected <ul><li>Property </li></ul><ul><li>Commercial </li></ul><ul><li>Corporate/M&A </li></ul><ul><li>Construction/project based </li></ul><ul><li>Private client litigation </li></ul><ul><li>Financial Services </li></ul>
  7. 7. Practices least affected <ul><li>Insolvency/Work-outs </li></ul><ul><li>OH & S </li></ul><ul><li>Workplace Relations/Employment </li></ul><ul><li>Commercial Litigation/Debt Recovery </li></ul><ul><li>Family </li></ul><ul><li>Wills & Estates/Probate </li></ul><ul><li>Insurance </li></ul><ul><li>Charities </li></ul><ul><li>Strata </li></ul><ul><li>Entertainment </li></ul>
  8. 8. Have you laid off any fee-earners?
  9. 9. Practice area of lay-offs <ul><li>Commercial </li></ul><ul><li>Corporate </li></ul><ul><li>Commercial Litigation </li></ul>
  10. 10. Practices likely hiring in next year <ul><li>Insurance </li></ul><ul><li>Insolvency </li></ul><ul><li>Dispute Resolution/ </li></ul><ul><li>Commercial Litigation </li></ul><ul><li>Projects/ </li></ul><ul><li>Construction </li></ul><ul><li>Environment & Planning </li></ul><ul><li>Employment </li></ul><ul><li>Immigration </li></ul><ul><li>Family Law </li></ul><ul><li>Strata </li></ul><ul><li>Commercial </li></ul><ul><li>Charities </li></ul><ul><li>General Litigation </li></ul>
  11. 11. Affect on the overseas market <ul><li>Severe decline in opportunities overseas </li></ul><ul><li>Most serious decline and lay offs in: </li></ul><ul><ul><li>UK (especially London) </li></ul></ul><ul><ul><li>US </li></ul></ul><ul><ul><li>Middle-East (Dubai) </li></ul></ul><ul><ul><li>Asia to a lesser extent </li></ul></ul><ul><li>“ Boomerangs” </li></ul>
  12. 12. Challenges for Young Lawyers in next 12 months <ul><li>Job security/retaining jobs </li></ul><ul><li>Delegation and billable targets </li></ul><ul><li>Value of junior lawyers </li></ul><ul><li>Flexibility </li></ul><ul><li>Skill building </li></ul><ul><li>Rotations </li></ul><ul><li>Competition </li></ul><ul><li>Morale/Sense of humour </li></ul>
  13. 13. Advice to Employed Lawyers <ul><li>Differentiate </li></ul><ul><li>Be observant </li></ul><ul><li>No &quot;it’s not my job“ </li></ul><ul><li>Be thorough </li></ul><ul><li>Volunteer </li></ul><ul><li>Be punctual </li></ul><ul><li>Training and up-skilling </li></ul><ul><li>Flexibility </li></ul><ul><li>Contacts and clients </li></ul>
  14. 14. Advice to Job Seekers <ul><li>Be patient and positive </li></ul><ul><li>Get experience </li></ul><ul><li>Consider travelling or volunteering </li></ul><ul><li>Be competitive </li></ul><ul><li>Think laterally and have back up plans </li></ul><ul><li>Remember that great people are highly employable in any market. </li></ul>
  15. 15. FOR MORE INFORMATION OR A COPY OF THE SLIDES, EMAIL [email_address]

×