Timing is one of the key elements of a job search. Generally speaking, an economic downturn is not a great time to look for a new job. However, there are some practice areas that may be in greater demand due to the situation. For example, during the height of the COVID pandemic, while many attorneys could not find enough billable hours, trust & estate and bankruptcy attorneys had a seemingly endless supply of work. Law firms were actively seeking attorneys in those practice areas and there were simply not enough to go around. Likewise, in this “post-COVID” environment, corporate attorneys are in huge demand. Law firms are bumping compensation, paying signing bonuses and offering the ability to work remotely to entice corporate attorneys to join their firm. It is important to understand that these periods of heightened demand are temporary and may not return for a long time.
The first step is to recognize when the opportunity exists. A sustained increase in work demands/hours is likely a sign, or it might be something more obvious like an uptick in recruiter calls. After recognizing that the timing is right, the next step is to seize the opportunity. Even if you are generally content in your current position, it’s a perfect time to explore opportunities in the market. You may discover that you are underpaid based on current market rates or that avenues exist to advance your career that were not previously open – and may not be around for much longer.