Legal and compliance jobs rise 37% amidst market dip: report

Despite a 6% drop in overall recruitment activity, the number of job roles in the sector climbed by 37%.

Singapore’s Legal, Risk & Compliance sector is charting its own course amidst a broader talent market cooldown.

Despite a 6% drop in overall recruitment activity, the number of job roles in the sector climbed by 37%, according to Morgan McKinley’s latest Salary Guide.

“The Legal & Compliance talent market in Singapore has remained resilient throughout 2024,” the report stated, “with companies continuing to hire whilst adopting a more strategic and deliberate approach.”

Firms are increasingly turning to contract roles to manage short-term regulatory projects and hiring gaps. This cautious approach reflects the complexity of today’s compliance landscape and the need for flexibility in workforce planning.

According to the guide, companies are “balancing long-term compliance needs with cost-efficiency, particularly as regulatory frameworks become increasingly complex.”

ESG regulations are a key driver of growth. Singapore’s Green Plan 2030 alone led to “a 5% increase in job roles related to renewable energy, sustainability, and environmental governance.”

Hiring timelines have also stretched, with businesses “carefully evaluating candidates to ensure they secure the right expertise,” whilst placing “a greater emphasis on cultural fit and long-term retention.”

Salary-wise, the market remains steady. “Whilst salary growth has been moderate,” the guide noted, “hiring has been largely focused on junior to mid-level professionals as companies shift towards cost-efficient workforce strategies.” This “juniorisation” trend reflects firms’ focus on lean, capable teams without overextending budgets.

Looking ahead, the outlook is clear: “The emphasis on sustainability, risk management, and governance will continue to drive demand for specialised legal and compliance professionals.”

Talent shortages are expected to persist, pushing companies to sharpen their recruitment and retention playbooks in 2025.

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