Market Insights

Interest rate rises, supply chain issues, geopolitics, difficulty raising capital as well as a global slowdown mean that legal employers are recruiting with greater caution and tighter cost control. The report shows that at the end of FY23 salaries increased by 4 – 5.5% in private practice and 4 – 5% for corporate roles, in contrast to 5 – 8% and 5 – 7% respectively, observed at end FY22. Further, the mode salaries for partners in mid-tier and small firms in Sydney and Melbourne fell, along with salaries for mid to senior level corporate lawyers in Melbourne and Company Secretaries in non-publicly listed companies. Read the report below.