Alex Carpenter, Associate Director, discusses the private practice market in Scotland over the past year, and looks ahead to 2025
From Alex Carpenter
2024 has once again been a strong year for the legal market in Scotland. Like all markets this year the industry has faced continued economic challenges but, whilst some areas have been quieter than others, the market has continued to perform.
National and international firms
Although there have been fewer notable mergers or new expansions into Scotland, the firms that are now firmly rooted into the market are continuing to grow and expand.
This has led, and is continuing to lead, to a greater variety of work, particularly on the English side, with departments at some of the national and international firms continuing to work as national teams with their colleagues in other offices across the UK.
There has been a notable increase in demand for English/dual qualified solicitors, with firms keen to support and fund the qualification for those interested in dual qualifying.
Investing south of the border
On the other hand, we have seen some of the Scottish firms delve into the English market – Gilson Gray, for example, acquired a London-based firm and Aberdein Considine opened a new Manchester hub.
Practice areas
As always, certain areas and disciplines have been quieter than others. Unsurprisingly, the corporate market has remained quiet (particularly on the junior side) along with other disciplines, such as commercial and family, but we are now seeing signs that at least some of those areas are starting to pick up again.
Although real estate had a quiet phase last year, the market has picked up dramatically this year and, as always, the renewables/energy market is flourishing.
Salary jumps
We have seen some notable salary jumps. Newly qualified salaries are a great way to track and compare salaries and, in some cases, we have seen firms increase their NQ salary by 10 per cent, so it’s a brilliant time to be an NQ from a remuneration perspective.
It’s been a steady year once again for the Scottish legal market with positive signs once again for 2025!
