Opportunities rise and fall for legal accounts departments
The last few years have seen an increasing number of law firms outsourcing their finance functions in a bid to cut costs and increase efficiency. This has resulted in a good deal of unrest and instability and even the murmurs of an outsource has caused candidates to jump ship – and often the higher calibre candidates at that.
The good news for candidates is that as US firms put more emphasis onto their London and European operations, new support functions are being set up and the salaries on offer are higher than those from UK firms. Legal Accounts candidates have traditionally been relatively easy to recruit, however the appearance of US firms may alter the landscape. Billings Coordinators in particular have become much harder to recruit. Demand is outweighing supply and candidates’ salary expectations are higher than what UK firms are prepared to offer. Unless UK firms are prepared to increase their offerings or demand wanes, they will be in danger of losing out to their US counterparts.
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