Across the board, recruitment consultants special-ising in in-house lawyers report a significant upturn in the number of positions becoming available at the junior end and, most encouragingly, new positions being created. “They are not just filling gaps, they are building teams again,” says Naveen Tuli, a partner in recruitment consultants Laurence Simons.

Leading the way is the banking and finance sector. To some extent, the banks are playing catchup after making so many lay-offs a couple of years ago as the downturn in corporate activity began to bite. But a sign that better times really could be on the way is the roles that many of the banks are looking to recruit into.