Welcome our first legal finance market update of 2025!
The last quarter of 2024 was an exceptionally busy period for senior legal finance & accounting recruitment, with more live roles than at any other point throughout the year.
For context, I typically manage 5-7 active roles at any given time, but in Q4, I saw this number peak at 14 roles, reflecting the extraordinary demand for senior-level legal finance professionals.
This surge highlights the resilience and growth of the sector, setting a tone of optimism as we move into 2025.
Looking back: Q4 2024 Recap
The roles we managed in Q4 were spread across a variety of law firms, encompassing everything from large global firms to mid-sized practices.
A notable trend was an increased demand in the tax space, particularly for International Tax Manager and Senior Tax Manager roles within a couple of the larger global law firms. However, aside from this pocket of activity, the roles varied widely, highlighting the dynamic nature of the market.
Adding to the excitement, we began working on several opportunities across Europe, extending our support and expertise beyond the UK. This broader remit marks an exciting development for us and for our clients as we head into 2025.
We enter Q1 2025 in a strong position with a range of live roles, and from conversations I've been having with clients, there's a great deal of positivity in the market, which is great to see!
Conversations with hiring managers suggest a continued confidence in the market. We've had several newly created roles come onto the market, reflecting increased headcount, a clear indication of growth and optimism within the legal finance sector.
With that being said, it's worth noting that the market remains candidate-short and heavily passive, meaning that while opportunities abound, the pool of actively searching candidates remains limited.
Key trends in the senior legal finance & accounting market in Q1 2025
1. January surge in candidate activity
The New Year often brings a surge of candidates considering career changes. Candidates often reassess their career goals at the start of the year, so it’s an excellent time to advertise and recruit. While the legal finance market remains passive, January is always a good time to recruit.
2. Hiring managers: lead with your best offer
Our analysis of candidate motivations consistently shows that financial incentives are a primary driver for career moves.
Firms looking to attract top-tier talent must ensure their compensation packages are competitive. While January may bring an influx of interest, the candidates you attract are likely to be seeking both financial and professional progression.
With this in mind, it’s critically important for firms to lead with their best offer when going out to market. Today's candidates are often motivated by opportunities for both financial growth and increased responsibility, even if they may not yet be fully operating at the desired level.
3. Evolving salary trends
We have just released our H1 2025 Salary Guide, which reflects some key changes in the senior market, particularly at Finance Director and Financial Controller levels.
Whilst there were not dramatic changes in salary ranges like we have seen in previous years, at the senior end of the market the roles below have increased by on average 5-10%.
Financial Controller/ Head of Finance
Finance Manager
Head of Commercial Finance
Senior Commercial Finance Manager
Finance Business Partner
4. Challenges in Niche Areas
Opportunities for career progression within Commercial Finance remain a challenge, particularly for candidates seeking to move from Commercial Finance Manager to senior management roles. Despite high demand for Senior Commercial Finance Manager positions, many firms lack this structural layer within their teams, resulting in limited opportunities for upward mobility. This gap highlights a critical area of growth potential for firms looking to attract and retain top talent.
Roles in finance systems remain particularly challenging to fill due to the niche skill set required. In one instance, we placed a candidate from outside the sector and without the desired finance systems experience due to the scarcity of professionals with relevant experience.
This example highlights the importance of firms being flexible with hiring strategies and focusing on transferable skills when tackling specialist roles.
Strategic insights for candidates and clients
For jobseekers
One emerging trend to be aware of is the increasing reluctance of law firms to advertise salaries on their job adverts. While this isn’t ideal, particularly for candidates who prefer transparency, it reflects internal sensitivities and a shift in market norms.
We recommend that candidates proactively engage with specialist recruiters to uncover salary expectations and ensure roles align with their goals.
For Hiring Managers
In a candidate-short market, it’s vital to lead with your best offer. Competitive salaries and clear progression opportunities are essential to attracting top talent.
It is also important to tailor roles to reflect current market conditions and candidate aspirations, particularly for niche areas such as finance systems and pricing.
Emerging opportunities and trends for 2025
The legal finance sector remains a dynamic and rewarding sector, particularly as firms continue to invest in newly created roles that add value to the firm.
In particular, pricing, commercial finance, and business partnering are seeing increased demand as firms seek to enhance profitability and leverage data-driven decision-making.
We are also seeing a growing appetite for AI-driven initiatives and enhanced data utilisation. While specific AI-focused roles within finance have yet to emerge, this is an area to watch closely as firms explore innovative ways to gain a competitive edge.
Final thoughts
Q4 2024 showcased the resilience and dynamism of the legal finance market, and the outlook for 2025 is equally positive. With an active pipeline, growing opportunities across Europe, and firms continuing to prioritise strategic roles, we are feeling confident that 2025 promises to be a strong one for the legal finance sector.
For candidates, now is a great time to explore new opportunities. For firms, ensuring your offerings are competitive and aligned with market trends will be key to securing the best talent in a highly competitive landscape.
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