The Brief:
Workplace, insolvency and disputes are leading growth across firms.
M&A is the only major practice in decline, despite a hiring spree for top dealmakers.
Australian law firms posted 4.8% growth in demand in the first half of FY26, a Thomson Reuters report reveals.
But the practice-level picture is splitting.
Workplace Relations is the fastest-growing area, up 9.9% year-to-date. It’s followed by Restructuring & Insolvency (7.9%), Corporate (7.7%) and Disputes (6.2%).
At the other end, M&A is down 2.1%, making it the only major practice in the red.
Practice Area | Demand Growth (Y/Y Chg) |
|---|---|
Workplace Relations | +9.9% |
Restructuring & Insolvency | +7.9% |
Corporate General | +7.7% |
Dispute Resolution | +6.2% |
Construction | +3.9% |
Real Estate | +3.0% |
Banking & Finance | +2.6% |
M&A | -2.1% |
Counter-cyclical work is picking up, while deal activity is softer. If that remains the case, transactional teams may have a rough ride ahead.
Still, law firms remain bullish on deals.
At the top end of town, there’s a talent war for M&A rainmakers. Recently, top M&A partners like David Gray and Alex Elser are jumping ship for big pay packets.
Recruiters say firms are hiring through the slowdown, betting on a rebound and locking in talent before the market turns.
Source: Thomson Reuters