Mahlab Report 2017 PRIVATE PRACTICE - AUSTRALIA - INTERNATIONAL - Mahlab Recruitment
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Mahlab Report 2017 PRIVATE PRACTICE AUSTRALIA - INTERNATIONAL
Introduction 1 Partners 6 Private Practice Lawyers 9 International 15 All artwork reproduced with the kind permission of the artist, Bill Sampson www.billsampson.net Figures contained within tables in this survey have been rounded to the nearest $500 and are quoted in local currency. © Mahlab Recruitment (Vic) Pty Ltd 2017 © Mahlab Recruitment (NSW) Pty Ltd 2017 www.mahlab.com.au
Mahlab Report
2017
The Mahlab Report is a leading source of insight for
employers and professionals into Australia’s legal
industry. The Mahlab Report is recognised for its in-depth
information about the legal profession, employment
experiences, trends and remuneration tables.
The Mahlab Report has always been informed by
a unique mix of industry knowledge, research and KEY FINDINGS
discussions with clients and lawyers, with the aim
of producing a useful, accessible guide for the Value and innovation
legal profession.
An increasingly savvy and demanding corporate client
We interviewed clients and lawyers and engaged group, and investment in technology and innovation
in discussion groups, which enabled us to source are the key elements driving the growth and speed
information more widely from the legal profession of the legal profession this year. Corporates are
about work conditions, remuneration and demanding faster and cheaper solutions from their
emerging trends. law firm panel members but also expect innovation
and business partnering. Competition on price and
We thank our consultants for their service, including value-adds, is more ferocious than
commitment, work and effort in providing ever; innovation is the catch-cry of corporations in
quality search services to our clients and in their demands of law firms.
assisting lawyers with career management Corporates have also led the way in their use of
and placement services. Their efforts and work technology and a nimble work force, with a high
have enabled the discussions regarding the take-up of technology to track external spend
and manage process in compliance, litigation and
legal profession, employment experiences,
transactional work and the employment on a needs
trends and remuneration which have informed basis of contract, secondee, part time and flexible
the Mahlab Report 2017. staff. While law firms are also investing heavily in
new technologies, many still struggle with flexibility
We thank all contributors for their frank perspectives of resourcing, the formation of contract labour
and the generosity with which they have shared subsidiaries notwithstanding.
their information and experiences. It is this first-
hand information that has equipped us to produce Outsourcing of legal process by mid sized and larger
industry relevant reports that not only inform but also firms and companies with a sophisticated in-house
legal function is now the norm.
challenge best practice.
Corporates are retaining more and better work
We invite you to join the social media conversation
in-house. The trend is for only very specialised and
about #MahlabReport2017 by following
very large transactions and litigation to be outsourced,
@MahlabLegal or connecting with us on LinkedIn.
Mahlab Report 2017 Private Practice 1
Introduction
generally to the larger firms. Not surprisingly, firms Legally qualified individuals are becoming more
of all sizes report a decrease in work flow outside deeply embedded in the company, not only in
these categories (and even within, as competition for legal and company secretary roles but also risk,
each matter is heavy), although small firms may still compliance and regulatory. The general counsel role
retain high volume, low margin work from a corporate has in many instances expanded to encompass
client. Private practice ‘winners’ are those firms with other service areas such as governance, corporate
clients not large enough to hire their own lawyers – affairs and insurance. Company secretarial
yet. Government continues to provide a steady work recruitment has been stable.
flow to panel firms, albeit at lower hourly rates.
As opportunities change and develop in the corporate
New entrants, including US firms, have disrupted the world, the path to partnership is slower than ever.
local market particularly in Sydney and Melbourne. Disgruntled senior associates, while paid well, are
Well-established global firms (themselves newcomers more inclined than ever to explore ‘loss-leader’ career
only five years ago) are facing aggressive competition choices in government and in-house law. Senior
for their partners, many of whom have moved to new associates (and partners) are also more motivated
global entrants with deep pockets. than ever to explore careers outside the law.
Firms feel pressured not only to cut their fees, but The market has responded favourably, with senior
also to provide secondees, CLE, entertainment lawyers being regarded as highly attractive candidates
and engagement opportunities for their in-house for non-executive directorships, CEO and senior
counsel clients. At the same time, corporates are government roles. Management consulting,
sourcing team members from the very firms that participation in start-ups and quasi legal roles also
service them, building in-house capability beyond attract many lawyers.
broad commercial law into specialised areas such as
Equity partnership numbers are falling as equity
competition, finance and mergers and acquisitions.
is redistributed from existing equity holders whose
Demand for lawyers with 3 to 6 years’ experience is status is changed to non-equity or they are
particularly high. Areas of demand in private practice encouraged to leave the firm. Salaried partnership
have centred on construction and infrastructure, is being used as a smokescreen: to all the world
(especially front-end), property, competition, IT, a partner but in reality, still an employee. Overall,
banking and finance, wealth management and partner income has fallen slightly this year.
general commercial including business structuring
Hiring activity has fallen in Perth but remains strong
and trusts. Companies are competing head-on with
in Sydney and Melbourne. Brisbane is picking up;
their law firm providers for the same talent pool.
Adelaide remains flat.
The market has responded
favourably, with senior lawyers
being regarded as highly attractive
candidates for non-executive
directorships, CEO and senior
government roles.
Mahlab Report 2017 Private Practice 2
Introduction
62% of lawyers working in the
corporate sector still have a bonus
component in their package, and
this percentage has been fairly
consistent for over five years.
Remuneration Interestingly, an in-house candidate this year is
more likely to ask for and receive compensation for
In private practice, movement in remuneration has the bonus they will forego if they change from one
continued to be conservative, with an average corporate to another.
national salary increase of 3.5%, down from 3.8%
in 2016. However, this figure belies the ‘hot spots’ International
of demand and remuneration-based retention
strategies. Hard-to-find and hard-to-replace lawyers International firms, especially those based in the US,
in banking and finance, for example, might enjoy have continued to enter the Australian market, in
a 25% uplift upon promotion as a senior associate; some instances through aggressive recruitment of
new global entrants will pay well above the odds whole teams.
to secure partners and teams. Global instability and tighter visa rules has dampened
Some lawyers with 3 to 6 years’ post qualification enthusiasm for Australian lawyers seeking adventure
experience in the larger firms enjoyed increases of in London and Australian firms’ interest in foreign
7–10%. High-achieving senior associates in similar lawyers, although inter-office secondments continue
sized practices were awarded increases of up to in the global firms and can be an effective retention
10%, plus a bonus. strategy for mid level lawyers.
In-house remuneration movement is generally linked
to corporate performance: lawyers are not singled
out for special treatment. Having said that, in-house
lawyers joining a company from private practice
will usually find that their current remuneration is
at least matched or a slight increase applied as
inducement in a competitive market. Overall in-house
remuneration has risen by a national average of
2.7% compared to 3.4% last year.
Bonuses in private practice are still applied where
Katherine Sampson Lisa Gazis
individual performance is exceptional; corporate
bonuses are less common due to the company not
hitting its targets. That said, 62% of lawyers working
in the corporate sector still have a bonus component
in their package, and this percentage has been fairly
consistent for over five years.
Mahlab Report 2017 Private Practice 3
State of the market
Increased Investment in New entrants are
recognition for technology and disrupting local
corporates innovation markets
Firms feeling Companies Demand for
pressure to cut becoming more lawyers with 3 to 6
fees flexible years’ experience
PRIVATE PRACTICE
Average
national salary Current Partner Some work being
increase of 3.5% partner market income flattened lost to in-house
down from 3.8% is turbulent or fell lawyers
last year
CORPORATE
Average
national salary General Retaining
Outsourcing
increase of 2.7% counsel role is more and better
trend growing
down from 3.4% broadening work in-house
last year
HIRING ACTIVITY
Sydney Brisbane
Adelaide
Perth
Melbourne
Mahlab Report 2017 Private Practice 4
State of the market
AREAS IN DEMAND GLOBAL MOVEMENTS
Sydney
Global instability and tighter visa
Corporate & Financial Infrastructure & rules has reduced movement in and
Commercial services Projects out of Australia
UK, Asia and the
Middle East
London
Property Employment & Health &
Industrial relations Pharmaceutical Opportunities still plentiful in
UK, Asia and the Middle East but
London not as popular
Melbourne
Corporate & Property Technology
International secondments and
Commercial rotations have become more
commonplace within global firms
Banking & Media
Finance
Lower tax rates attract lawyers to
Singapore and Hong Kong
Mahlab Report 2017 Private Practice 5
Partners
Mid sized firms are finding it harder to compete for large
commercial deals, although tend to make up for this by
billing well in specialist areas such as construction.
Where ‘bulk’ partner movement occurs, we also
MARKET observed firms responding with more vigorous
application of restraints.
Law firms are pressuring partners to perform, and
offering less leeway in the case of a bad year. On the Mid sized firms are finding it harder to compete for
flipside, firms are eager to reward successful partners large commercial deals, although tend to make up
to retain them and ensure they are not poached for this by billing well in specialist areas such as
by another firm. In the aftermath of the Herbert construction.
Smith Freehills/ White & Case partner poaching and
subsequent litigation, the current partner market
is turbulent. Movement continues at individual and
team level.
REMUNERATION
The trend of trimming equity points continues
On the ‘push’ side, the motivation is usually one or this year: moving equity partners to fixed draw or
more of these factors: salaried partnership, moving partners to consultant
• dissatisfaction with centralised management; or counsel status or moving them on. Despite these
• lower-than-expected partner draws; efforts to cut costs and secure the pie for remaining
partners, partner income has generally flattened or
• co-efficient inequities;
fallen this year, particularly in the smaller global firms,
• lack of recognition (financially or otherwise) of who struggle for a place between the big name
exceptional performance; global firms and the lower overhead mid sized and
• conflicts (where ‘their’ client loses out). boutique firms.
On the ‘pull’ side, partners are attracted by:
• a more nimble environment;
• a new international entrant that offers genuine
prospects of global collaboration;
• the opportunity to make their mark without
‘baggage’;
• exposure to better clients, bigger deals;
• more money in the short or long term.
Mahlab Report 2017 Private Practice 6
Partners
RECRUITMENT RETENTION
Some notable ‘bulk’ movement occurred this year, Increasingly, firms find it difficult to engage their
with the Herbert Smith Freehills projects team in senior employees as partnership prospects fade.
Melbourne and related partners in Sydney and Asia Many senior associates remain in the firm, not
moving en masse to new entrant White & Case. necessarily from a desire for partnership but because
prospects for movement are limited.
Another trend was the recruitment of one or two
partners for carefully considered strategic reasons Nevertheless, partners themselves are more willing to
such as: try their hand in a new firm or explore options outside
private practice. Desire for change tends to outweigh
• boosting skills in key areas such as mergers and
opportunity, although some high profile partners have
acquisitions and projects;
moved into general counsel and ‘general counsel
• offering a different choice to clients in terms of style plus’ roles this year, with a seat at the executive
and approach; leadership table and responsibility for more than the
• adding clients in new industries; legal function.
• enhancing Asia Pacific service delivery. As more foreign firms with deep pockets enter the
Australian market, resident firms are looking for
innovative ways to retain highly valued partners.
Strong leadership from the managing partner is more
important than ever.
Increasingly, firms find it difficult
to engage their senior employees
as partnership prospects fade.
Mahlab Report 2017 Private Practice 7
Partners’ Remuneration
SYDNEY
Mode
Major Firms $1,250,000
Mid Firms $890,000
Small Firms $465,000
MELBOURNE
Mode
Major Firms $1,150,000
Mid Firms $740,000
Small Firms $425,000
BRISBANE
Mode
Major Firms $970,000
Mid Firms $615,000
Small Firms $339,000
PERTH
Mode
Major Firms $997,000
Mid Firms $655,000
Small Firms $374,000
ADELAIDE
Mode
Major Firms $685,000
Mid Firms $412,000
Small Firms $200,000
The defining criteria of what is a major, mid and small commercial CBD firm includes: size, locations, reputation, quality of work, expectations of employer as well as pay,
desirability of employment and training and development.
Mahlab Report 2017 Private Practice 8Private Practice Lawyers
Fortunately, opportunities have opened up a little for
MARKET senior private practice lawyers seeking a change.
Increasingly they are regarded as highly attractive
Firms continue to compete for commercial work,
candidates for non-executive directorships, CEO and
with mid tier firms (including the smaller global firms)
senior government roles. Management consulting,
finding it harder to compete with the big name
participation in start-ups and quasi legal roles also
globals, new entrants from the US and nimble firms
attract many lawyers.
that are offering more innovative fee structures and
service offerings. There has been rapid growth and
development in the legal services market throughout
Asia and Australia. INNOVATION
Firms report that client loyalty is harder than ever to A key driver for sophisticated law firms is innovation
win and retain and that in-house lawyers are doing and more thought, time and money has been
work that once would have been referred to the firm. spent this year on this strategic focus. While much
Companies are more likely to look at alternatives. innovation is linked to technology, innovation as an
They are willing to approach smaller firms, as well as objective is more nuanced now, and often includes
new law firms with lower overheads, and are showing strategy, culture, profile, competitive positioning,
a tendency to ‘unbundle’ work. As such, competition client service and employee satisfaction.
remains fierce among private practice firms. The appointment of ‘innovation managers’ and
‘New law’ firms are no longer novel. More large teams is growing, as are innovation projects, ‘design
law firms have opened contract hire subsidiaries, thinking’ experiments, and collaborative research
with some applying senior lawyers to these ranks and development exercises. Larger firms aim to
to achieve better utilisation. Firms are increasingly inculcate their culture with an innovation theme, to
reluctant to provide secondee lawyers to their involve lawyers of all levels in innovation workshops
corporate clients, although demand for these remains and online ideas boards, for example, and to make
high. A firm’s contract hire offshoot can assist in innovation a normal part of working life for their staff.
this regard. Innovation is adapted to suit the culture, strategy
Within the firms, the path to partnership is slower and purse of the law firm. Client needs (and
than ever. Many solicitors and senior associates are sometimes client involvement) is top of mind. Testing
disillusioned by the lack of prospects and look to of hypotheses, measurement of outcomes, and
move to an in-house or non-practising role. Most continual improvement – concepts that are not
senior associates in the very large firms have no new to other industries but may be strange and
practice to take to another firm (and in any event new to the legal profession – are increasingly being
partnership prospects at the new firm may be equally applied, often led by innovation professionals from
dire), and can be too expensive or too experienced backgrounds outside the law.
for an in-house role. Effective innovation is adapted to the practice area:
On the bright side, a few major firms have recruited process improvement , for example, will be different
senior associates without a practice in areas of great for a highly commoditised practice compared to, say,
need such as finance, mergers and acquisitions, complex litigation or transactional practices.
funds/financial services and construction.
Mahlab Report 2017 Private Practice 9Private Practice Lawyers
attracted to the ‘carrot’ of partnership than ever
REMUNERATION before. On the plus side, the quality of work tends
to be higher at an earlier stage for solicitors in lean
Most firms have applied increases of CPI or slightly
teams with plentiful work.
above. The average national increase is 3.5%.
There tend to be fewer levels of seniority between
Bonuses tend to be linked to billings over budget,
partner and junior lawyer so direct partner and
although exceptional performers may receive a
client contact can also come earlier. Against this,
bonus of up to 20%.
some clients only want to deal with the partner,
Some lawyers with 3 to 6 years’ post qualification and competition for clients and deals mean that
experience in the larger firms enjoyed increases of most firms will oblige. One US firm commented
7–10%.High-achieving senior associates in similar that its terms of engagement with a corporate
sized practices were awarded increases of up to client specifically state that ‘junior lawyers will not be
10%, plus a bonus. charged for.’
Vacancy rates for junior to mid level lawyers remain
high, with particular demand at the 3 to 6 years’ post
RECRUITMENT qualification experience level. Firms find it hard to
Areas of demand this year have centred on differentiate their value proposition to persuade these
construction and infrastructure (especially front-end), lawyers to join them. Mid level lawyers are sceptical
property, competition, IT, banking and finance, wealth about firms’ points of difference and are reluctant to
management and general commercial including change unless they are unhappy with their current
business structuring and trusts. firm. Many ‘stay to become SA’, keen to achieve the
status and pay increase that comes with promotion,
Skills shortages mean that New Zealand qualified and before making a change.
interstate candidates are more readily considered
than in other years, although property is still one At this level, solicitors are inclined to try their hand
area of law where local (state) experience is usually in an in-house role, seeking more predictable hours,
regarded as essential. Recruitment of overseas no budget pressure or time sheets. Others seek
qualified lawyers has diminished as visa rules have experience overseas and find that high quality
tightened. Australian lawyers are still attractive to employers in
the UK, Middle East and Asia.
Demand remains highest in New South Wales and
Victoria with other states stable (Western Australia, Law firms are increasingly offering benefits to retain
Queensland) or declining (South Australia). lawyers at these levels. Flexible work hours, four-
day work weeks or a nine-day fortnight are more
common, although flexible work arrangements
usually need to be earned. Availability of part time
RETENTION roles is very limited without a history of service with
Lifestyle is still an important driver for law firm the firm.
employees. Smaller teams under a partner in the
larger firms are feeling more pressure and are less
Mahlab Report 2017 Private Practice 10Private Practice Lawyers’ Salaries Major firms SYDNEY Year Level Range Mode 1 $78,000 – $109,000 $88,000 2 $86,000 – $115,000 $96,000 3 $90,000 – $125,000 $106,000 4 $98,000 – $140,000 $127,000 5 $114,000 – $165,000 $135,000 SA 1 $140,000 – $185,000 $150,000 SA 2 $148,000 – $219,000 $168,500 SA 3 $165,000 – $225,000 $188,000 SA 4 $170,000 – $243,000 $212,000 SA 5/SC $197,500 – $340,000 $250,000 MELBOURNE Year Level Range Mode 1 $70,000 – $100,000 $78,000 2 $78,000 – $107,000 $82,000 3 $80,000 – $120,000 $96,000 4 $90,000 – $135,000 $120,000 5 $100,000 – $140,000 $125,000 SA 1 $120,000 – $155,000 $135,000 SA 2 $130,000 – $170,000 $150,000 SA 3 $137,000 – $180,000 $162,000 SA 4 $165,000 – $210,000 $180,000 SA 5/SC $170,000 – $310,000 $225,000 The defining criteria of what is a major, mid and small commercial CBD firm includes: size, locations, reputation, Figures include superannuation but do not include quality of work, expectations of employer as well as pay, desirability of employment and training and development. bonuses or other benefits. Given that firms take into account a range of factors when determining remuneration, an individual’s position within a band will vary based on their background, experience and performance. Lawyers paid at the higher end of the bands are usually top performers and/or employees who bring with them an additional skill that is over and above the general requirements of the role. For tailored advice please contact our consultants. Mahlab Report 2017 Private Practice 11
Private Practice Lawyers’ Salaries Major firms BRISBANE Year Level Range Mode 1 $68,000 – $81,000 $76,000 2 $70,000 – $96,000 $83,000 3 $81,000 – $106,500 $88,500 4 $91,000 – $121,500 $97,000 5 $97,000 – $146,500 $116,500 SA 1 $117,000 – $160,000 $132,000 SA 2 $132,000 – $180,000 $156,000 PERTH Year Level Range Mode 1 $72,000 – $87,000 $76,000 2 $80,000 – $95,000 $85,000 3 $85,000 – $105,000 $97,000 4 $91,000 – $142,000 $112,000 5 $105,000 – $153,500 $123,000 SA 1 $120,000 – $165,000 $140,500 SA 2 $135,000 – $190,000 $158,000 ADELAIDE Year Level Range Mode 1 $55,000 – $68,000 $58,000 2 $60,000 – $78,000 $66,000 3 $65,000 – $85,000 $73,000 4 $75,000 – $120,000 $85,000 5 $80,000 – $130,000 $95,000 SA 1 $90,000 – $150,000 $115,000 SA 2 $96,000 – $200,000 $130,000 The defining criteria of what is a major, mid and small commercial CBD firm includes: size, locations, reputation, Figures include superannuation but do not include quality of work, expectations of employer as well as pay, desirability of employment and training and development. bonuses or other benefits. Given that firms take into account a range of factors when determining remuneration, an individual’s position within a band will vary based on their background, experience and performance. Lawyers paid at the higher end of the bands are usually top performers and/or employees who bring with them an additional skill that is over and above the general requirements of the role. For tailored advice please contact our consultants. Mahlab Report 2017 Private Practice 12
Private Practice Lawyers’ Salaries Mid firms SYDNEY Year Level Range Mode 1 $68,000 – $84,000 $77,000 2 $82,000 – $100,000 $90,000 3 $92,000 – $110,500 $96,000 4 $97,000 – $128,000 $110,000 5 $105,000 – $148,000 $125,000 SA 1 $115,000 – $155,000 $140,000 SA 2 $130,000 – $165,000 $147,000 SA 3 $140,000 – $177,000 $162,000 SA 4 $155,000 – $185,000 $172,500 SA 5/SC $168,000 – $295,000 $210,000 MELBOURNE Year Level Range Mode 1 $65,000 – $80,000 $74,000 2 $68,000 – $98,500 $79,000 3 $78,000 – $105,000 $88,000 4 $80,000 – $115,000 $98,000 5 $90,000 – $135,000 $115,000 SA 1 $107,000 – $143,000 $128,000 SA 2 $115,000 – $155,000 $138,000 SA 3 $125,000 – $165,000 $148,000 SA 4 $140,000 – $175,000 $160,000 SA 5/SC $150,000 – $280,000 $185,000 The defining criteria of what is a major, mid and small commercial CBD firm includes: size, locations, reputation, Figures include superannuation but do not include quality of work, expectations of employer as well as pay, desirability of employment and training and development. bonuses or other benefits. Given that firms take into account a range of factors when determining remuneration, an individual’s position within a band will vary based on their background, experience and performance. Lawyers paid at the higher end of the bands are usually top performers and/or employees who bring with them an additional skill that is over and above the general requirements of the role. For tailored advice please contact our consultants. Mahlab Report 2017 Private Practice 13
Private Practice Lawyers’ Salaries Small commercial CBD firms SYDNEY Year Level Range Mode 1 $55,000 – $77,000 $60,000 2 $65,000 – $90,000 $70,000 3 $72,000 – $98,000 $82,000 4 $80,000 – $117,000 $90,000 5 $92,000 – $137,000 $110,000 SA 1 $98,000 – $160,000 $125,000 SA 2 $118,000 – $175,000 $130,000 SA 3 $132,500 – $190,000 $145,000 SA 4 $142,500 – $197,000 $155,000 SA 5/SC $162,000 – $210,000 $175,000 MELBOURNE Year Level Range Mode 1 $48,000 – $73,000 $50,000 2 $55,000 – $85,000 $60,500 3 $57,000 – $90,000 $70,000 4 $60,500 – $105,000 $78,000 5 $75,000 – $120,000 $98,000 SA 1 $78,500 – $135,000 $105,500 SA 2 $105,000 – $145,000 $115,000 SA 3 $110,000 – $150,000 $125,000 SA 4 $120,000 – $170,000 $135,000 SA 5/SC $135,500 – $205,000 $165,000 The defining criteria of what is a major, mid and small commercial CBD firm includes: size, locations, reputation, Figures include superannuation but do not include quality of work, expectations of employer as well as pay, desirability of employment and training and development. bonuses or other benefits. Given that firms take into account a range of factors when determining remuneration, an individual’s position within a band will vary based on their background, experience and performance. Lawyers paid at the higher end of the bands are usually top performers and/or employees who bring with them an additional skill that is over and above the general requirements of the role. For tailored advice please contact our consultants. Mahlab Report 2017 Private Practice 14
International
International opportunities for Australian lawyers
were plentiful over the last 12 months, particularly
in the UK, Asia and the Middle East.
Finance was a key area of demand and lawyers Relocation opportunities within global firms
with project finance skills were particularly sought
after. Financial services, regulatory and funds were Now that Australian firms’ international mergers and
also strong areas of demand. Contrary to previous alliances have matured, international secondments
years, demand was not as strong for mergers and and rotations have become more commonplace.
acquisitions or dispute resolution lawyers. Aspirations of relocating within the firm’s network are
more realistic in some firms than others and often
Australian lawyers are keen to experience working depend on the support of local supervising partners.
overseas. London is a popular destination for those
who can comply with visa restrictions, however, Junior lawyers
many now seek the less trodden path of relocating
Magic Circle and Silver Circle firms are increasingly
to projects hubs in the Middle East and thriving
recruiting junior lawyers laterally. Lawyers from newly
business destinations in Asia.
qualified to two years’ post qualification experience
Opportunities abound for Australian lawyers in these (PQE) find that they have options, particularly if their
areas, with attractive remuneration and typically initial training is in areas of skills shortages, such
smaller offices offering a greater variety of work than as banking and finance. This means that Australian
they might experience in specialist teams in the UK. lawyers are marketable overseas with as little as two
While language skills are an advantage in Hong Kong years’ PQE.
and Beijing, they are no longer a prerequisite due to
It also creates opportunities for junior Australian
the number of expatriates doing business in Asia.
lawyers to enter specialised teams without specific
Australian lawyers are usually not concerned that experience in niche areas of practice. Lawyers who
their experience level will be discounted by two years plan to return to Australia should be mindful of the
when they relocate. In practice, they often receive applicability of specialist experience in the local
higher remuneration and are given more responsibility market.
than in Australian firms.
Salary information
Salaries in the UK, Middle East and Asia remain
competitive. With the lower tax rates available in
Singapore and Hong Kong, these jurisdictions remain
attractive to Australian and New Zealand lawyers.
Mahlab Report 2017 Private Practice 15Melbourne @MahlabLegal
Level 1, 535 Bourke Street, Melbourne 3000 www.linkedin.com/company/mahlab-recruitment
T: (03) 9629 2111 E: melb@mahlab.com.au
www.mahlab.com.au
Sydney
Level 3, 15 Castlereagh Street, Sydney 2000
T: (02) 9241 1199 E: syd@mahlab.com.auYou can also read
