Beyond beautiful green rolling hills, tasty Guinness, and top-notch hospitality, Dublin has a lot to offer legal professionals looking for a new challenge.
I've been lucky enough to work with great lawyers in Dublin, and recently I’ve had more frequent conversations with London and Aussie lawyers interested in learning more about the market and it's increasing popularity.
Here’s a quick overview on whats driving the legal market in Dublin and why lawyers should consider a move to the Emerald Isle.
A Sophisticated Global Legal Market
Dublin is home to several of the world's largest banks and asset managers and prides itself on being a very sophisticated and evolved market. It was ranked the second most attractive European financial centre after London, according to PwC, which will undoubtedly help the City attract post-Brexit investment by positioning itself as an alternative hub to London.
The trend of international law firms setting up shop in Ireland shows no signs of slowing — in addition to Eversheds Sutherland, Fieldfisher, DAC Beachcroft Dublin, and Maples Group, Hogan Lovells, DLA Piper, and Dentons Ireland have all established Irish offices in recent years, while Addleshaw Goddard entered the market in 2022 following its merger with Eugene F. Collins. Squire Patton Boggs, is the latest to announce a Dublin HQ to open in May 2023 and US firms also continue to move into Ireland, with K&L Gates and Dechert already established there, and others expected to follow suit. This demonstrates the increasing recognition of the important role Ireland’s globally-connected economy plays in Europe.
Demand for Legal Work
Dublin's tempting business climate, deep pool of talent, long-established infrastructure, and rich culture has attracted massive investment from American and European multinationals – as well as some businesses from further afield. There are many industries that are contributing to the thriving economy of Dublin, by some measures the fastest-growing city in all of Europe. High-profile organisations, such as JP Morgan, Bank of America and Citigroup, have heightened their regional operations, which is a promising sign of things to come. With increasing client demand, firms are able to offer aspiring NQ's and associates a strong pipeline of work and consistent training and development. Currently high on the list of many lawyers top priorities when looking for a new firm.
According to data collected on Pirical, 2022 saw a 14% increase in Associate moves in Dublin and we expect this trend to continue as more firms bolster their teams in the region.
Like in many of the prominent jurisdictions, there continues to be a strong demand for lawyers across several practice areas, which include:
- Corporate
- Tax
- Funds
- Banking and Finance
- TMT
- Real Estate
- Competition
- Capital Markets
Lower Tax Rates
Tax rates in Ireland are pretty low compared to Australian and UK. There are two tax brackets, 20% (the standard rate, charged on the first 35k depending on personal circumstances) and the balance of income at 40% (the higher rate of all taxable income over 35k depending on personal circumstances, earnings, exemptions etc). The standard corporation tax rate is 12.5% (trading) and 25% non-trading. This is a significant benefit to firms, and reputable economic sources believe more and more firms will seek to take advantage of these rates, especially in the wake of Brexit. From everyone's political views, it is clear that Ireland has a unique position to capitalise on regarding the UK's decision to leave the EU, at least in the short/mid-term.
Quality of Living
Regarding the quality of living, Dublin ranks higher than most cities. The Mercer's Quality of Life survey ranked Dublin in 34th place. This makes the City the highest-ranking City in Ireland and the UK.
Ireland is an international hub, attracting many from afar — in part thanks to its geographic location and its close historical and cultural ties to Europe, the UK and the US. One downside is Dublin's rental prices, which can be pretty steep. If you want to save some cash, you could live just outside the City and commute. Public transportation is fast and reliable. Outside the cities, there are buses and trains that will take you just about anywhere, and for the places they don't go, rental cars are cheap.
I can’t write an article on Dublin without mentioning the pub scene. There's no place quite like it. Traditional pubs line the street and act as pillars of the community, where people make and keep friends, play games, hear music, and, of course, enjoy tasty food and drink.
Ready to Dublin your luck?
If you're an Irish lawyer looking to take the next step in your career in Dublin, or our an Australian or UK-qualified lawyer looking for a new venture. Please don't hesitate to get in touch. We have full market maps and guides to send to interested parties. At Sonder, we're proud to call ourselves an international legal recruitment company and are always keen to make clients and candidates aware of our global reach. Our Headquarters is in Sydney, then London is now our largest office by headcount, and our New York is now officially a year old and growing exponentially.
