HK's legal exodus leaves law students with few places to go

At least 16 law firms have left or shut down since 2020 after steady growth in previous years

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When Ms Katie Lam was deciding what to study back in 2018, she thought that a law degree would open the most doors in a future career. She was overjoyed to be accepted into her chosen subject at the Chinese University of Hong Kong.

Almost six years on, the outlook in the city has soured, with top-tier firms closing, foreign lawyers leaving and, according to recruiters, fewer trainees being retained.

While Ms Lam, 23, managed to secure work as a paralegal, more graduates appear to be dropping out of the profession altogether.

Some industry leaders say the downturn is part of a normal economic cycle and the fundamentals remain strong.

But there are also concerns that US-China tensions and the city's national security legislation have undermined faith in the rule of law and are further clouding the future.

The legal industry in Hong Kong is growing at the slowest pace in a decade. At the Law Society, which solicitors are required to join, membership grew by only 90 in 2023, down 83 per cent from an increase of 532 members in 2020.

At least 16 law firms have left or shut down since 2020 after steady growth in the previous few years, including Philadelphia-founded Dechert and Chicago-based Winston & Strawn.

DLA Piper, one of the largest law firms in the world, has cut its office space, while Mayer Brown was preparing to split off its Hong Kong operation, people familiar with the matter said earlier in 2024.