The Flight To Quality
July 30, 2009 by Damian
I was talking to a lawyer at one of the big firms here in Wellington the other day and he commented that he was busier than ever. When I asked him ‘how come?’, he laughed and said that it was because during tough times, there is always ‘a flight to quality’.
Reading this article from the UK magazine Legal Week, it seems to be the same the world over –
http://www.legalweek.com/legal-week/analysis/1495487/editor-comment-tough.
In the same edition of the magazine, I also found this very interesting article about the headcount in the top 50 firms in the UK – http://www.legalweek.com/legal-week/news/1495495/headcount-holds-level-set-fall-2010.
Contrary to what I thought, headcount has hardly dropped at all in the year to April 2009. The bad news for any Kiwi lawyer thinking about going over in the next year is that the prediction is that it will drop in the year to April 2010.
I will keep you up to date with any information on this that I come across!
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