The legal profession in Singapore isbouncing back according to this report in the Straits Times
They write…
AFTER several years of seeing its numbers stagnate, the legal profession is back on the growth path again.
Figures from the Law Society’s annual report published yesterday show there were 3,697 practising lawyers as of August this year – 280 more than in August 2007 and the highest number in five years.
But the growth in numbers is not matched by a rise in the number of firms. Instead, there are fewer firms around now – 781, compared to 800 five years ago.
A closer look at the Law Society figures shows that the number of medium-sized (at least six lawyers) and large firms (more than 30 lawyers) has either remained stable or steadily increased.
It is the number of small firms (those with five or fewer lawyers) that has shrunk, from 711 in 2005 to 685 today.
Lawyer Amolat Singh, managing partner of his own firm, said that more small firms were merging to cut costs and save on overheads.
‘This will also enhance their research capabilities and the services they deliver,’ he added.
The profession has also seen another shift – more women in its ranks. About four out of every 10 lawyers are women, against three out of every 10 last year.
Several reasons have been put forward by lawyers for the overall rise in numbers. The economic downturn, for one, has resulted in fewer lawyers leaving the Bar.
Also, moves to liberalise the legal services sector have proven successful in attracting new entrants.
There are now six major foreign law firms licensed to practise Singapore law in specified areas.
Greater collaboration has also been allowed between local and foreign firms.
And as Singapore works towards its ambition of becoming an international legal hub in the coming years, the number of lawyers here should continue to grow.
At the entry level, too, restrictions have been eased.
In May this year, it was announced that Singaporeans and permanent residents who have studied law and have two years’ legal experience here or overseas need only sit for one part of the two-part Bar examination.
A Ministry of Law spokesman said yesterday that 240 to 250 candidates are registered to take the examination later this year.
Lawyers contacted see the increased numbers as a welcome relief, to help manage the growing workload.
Drew & Napier’s Adrian Tan said: ‘As Singapore is positioning itself to be a dispute resolution hub internationally, we need bright young lawyers to enter the industry to serve the growing demand.’
Lawyer Niru Pillai, senior director of Global Law Alliance, which has about 10 lawyers, said the rise in numbers will benefit smaller firms as well.
In the past, the big firms would snap up all the fresh graduates, but these days there are enough of them to go around, so the smaller firms will be able to grow as well, he said.
