Market Insights

Mahlab Report 2022 cover

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.

Market advice

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…      

Salary advice

We welcome you to contact us for tailored advice. Lawyers paid a salary 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.

Roundtable briefings

We regularly bring corporate counsel together to discuss the challenges, concerns and opportunities facing legal professionals today. We share the insights so that everyone in the profession can benefit.