Larson Maddox

Legal Recruitment Talent Shortage Sees Lawyer Salaries Increase by 27%


New York, NY -- (SBWIRE) -- 05/02/2022 -- Nominal wage growth rose by more than 4% in the US last year and most employers are factoring in another rise for budgets for 2022. In fact, payroll budgets could increase by up to 15% for firms this year, making this a prime time for those seeking to work with a legal recruitment agency to find an exciting new role. The year-on-year increase for lawyer salaries is set to hit 27% in 2022, which represents a significant turnaround from some of the much harder years of the pandemic. The spike in salaries is being driven by the talent shortage that is affecting the legal sector, as well as many other industries. The new wage cycle that is emerging falls on the side of workers, as the fight for talent isn't likely to abate any time soon and legal teams across the world are going to have to continually update their offering to attract the best people.

The talent shortage - and the consequent spike in potential salaries - has been key to watch for a legal recruitment agency like Larrson Maddox. This has created an environment that favors candidates while also putting a lot of pressure on hiring managers to be able to cherry-pick the best people from a slim stream of talent. Larson Maddox is a specialist legal recruitment agency, providing support to enterprises where there is a need to build up teams and expand expertise, as well as to talented people keen to take a career-defining next step. When it comes to hiring for legal and regulatory functions in-house for businesses, the firm is a go-to, whether that relates to life sciences, manufacturing, technology and financial services, consumer goods or retail and media legal talent. Thanks to a combination of permanent, contract and multi-hire solutions the team is able to create options for every hiring need.

Larson Maddox is a very experienced legal recruitment agency, not just when it comes to America but on a global level. In the US, the team's reach is extensive and includes major cities such as Dallas, Los Angeles, New York, Chicago and San Francisco. Plus, the US-based team is also part of a worldwide workforce that numbers more than a thousand. And, in addition, Larson Maddox is the recruitment partner of choice to hundreds of world-leading companies as part of the Phaidon International group, which operates across 6 countries. This extensive reach is a huge advantage for both clients and candidates working with the firm, as it enables genuinely cross-border hiring. In addition, the firm fields an experienced and insightful team - consultants are trained on an ongoing basis and work with best-in-class recruitment technology and strategies. Larson Maddox has much to offer as a legal recruitment agency, including roles as Investment Counsel, In-house M&A Counsel [Global Investment Bank] and Counsel [Food & Beverage].

Jake Knowlton-Parry, Global Head of Larson Maddox, said "Larson Maddox understands that with less high quality Legal & Compliance professionals in today's market, there is a higher demand for expert talent and a greater need for a specialist search firm to solve this business-critical problem. With Larson Maddox's dedicated industry-specific verticals, we have the ability to access and navigate a highly competitive market, drawing upon established and trustworthy relationships in order to meet our clients' requirements. We are passionate about fueling our client's growth across multiple industries through utilizing a quick, transparent and accurate search process to deliver results faster."

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About Larson Maddox
Larson Maddox is focused on creating strong links between the right candidates and businesses to enable the Legal and Compliance sector to continue to develop and grow no matter what the current climate.