Employment for lawyers is expected to grow by 6 percent through 2028, according to the Occupational Outlook Handbook. Private equity firms have high amounts of “dry powder” (unused money that is used to make deals) available for investment, which suggest that there will be strong demand for lawyers to help firms structure and close deals and provide legal guidance regarding portfolio companies. Increasing regulation of the PE industry will also create demand for attorneys.
According to Robert Half Legal's 2020 report, specialized lawyers are in strong demand, and business law (especially financial services) is considered to be a hot practice area. "As more businesses enlarge their footprint around the country, their in-house legal departments are seeing an uptick in hiring as well," the firm explains.
The Department of Labor notes that "although law firms will continue to be among the largest employers of lawyers, many large corporations are increasing their in-house legal departments in order to cut costs. For many companies, the high cost of hiring outside counsel lawyers and their support staffs makes it more economical to shift work to their in-house legal department. This shift will lead to an increase in the demand for lawyers in a variety of settings," including financial firms.
- Investment Underwriters
- Private Equity Accountants and Auditors
- Private Equity Business Development Directors
- Private Equity Chief Dealmakers
- Private Equity Compliance Professionals
- Private Equity Financial Managers
- Private Equity Investor Relations Specialists
- Private Equity Marketing Specialists
- Private Equity Research Analysts and Associates
- Private Equity Risk Managers