Ng Lay-Hoon
Associate Director,
Legal & Financial Services
(65) 6416 9960
layhoonng@michaelpage.com.sg
(EA Reg. no: R1108753)
Michael Page International Pte
Ltd (EA Licence No.98C5473)
is part of the PageGroup.
Registered Office: One Raffles
Place, #09-61 Office Tower Two,
Singapore 048616
The demand for legal professionals in Asia remains fairly robust, particularly in more mature markets such as Singapore, Hong Kong and China. Findings from the recently released Michael Page 2015 Salary and Employment Outlook reveal there is steady growth in both in-house and private practice roles. There continues to be steady demand across Asia for legal counsels, general counsels and attorneys with well-rounded generalist experiences.
There is also strong demand from law firms and in-house legal departments across Asia for FCPA compliance lawyers. This is due to an increasingly stringent regulatory landscape and a growing awareness of improprieties and payoffs. The demand for compliance lawyers is also driven by the need for compliance programs that increase a company’s chance of catching wrongdoing before a regulator does. Employers across Asia are particularly seeking lawyers who are able to effectively balance business needs with regulatory requirements and advise on creating opportunities rather than only offering compliance services.
In China, TMT transactions lawyers are in hot demand as many e-commerce companies expand throughout the region. Written and spoken proficiency in mandarin is an ever increasing prerequisite for legal professionals hoping to be employed in China as well as by companies who operate throughout the country. Chinese language proficiency not only applies to legal professionals working in China but also those whose work focuses on China while being based in Singapore or Hong Kong.
In Hong Kong and Singapore, dispute resolution continues to be a central focus for the legal industry. However, in Singapore in particular, the implementation of the Personal Data Protection Act in 2014 will contribute to a skills shortage for legal professionals skilled in this area, with professionals being sourced from overseas if need be.
In terms of trends, we are starting to see companies seriously contemplating hiring local lawyers within growth markets, as local management prefer having support within a close proximity to their business and also an understanding of the local legal climate.
Robust conditions for legal recruitment will continue for the next 12 months across Asia. Legal professionals with a strong sense of business acumen will be highly sought after as the legal function of a company is increasingly seen as a business partner. Growth for the legal sector will strengthen across industrial sectors and the professional services industry operating throughout Asia.
The Michael Page 2015 Greater China Salary and Employment Outlook is available here: http://www.michaelpage.com.hk
The Michael Page Singapore 2015 Employee Intentions report is available here: http://www.michaelpage.com.sg