Lawyers’ salaries increase at pre-pandemic pace
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.
Law firms, which offered premium salaries and increases of up to 20% in 2022, are now taking a more circumspect approach to salary reviews, hiring and workflow efficiencies. In contrast, companies are…
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