Leading Australian law firms continue pay freeze
Most leading law firms in Australia effected pay freezes in the past year, increasing the rate of job dissatisfaction among lawyers. comments powered by Disqus
National recruiter Taylor Root has conducted an annual survey showing that lawyer pay at most of the largest firms remained flat over the past 12 months, and finding escalating dissatisfaction among lawyers - especially those in high-earning practice groups.
Matt Harris, head of private practice recruitment at Taylor Root,said: “If work volume is increasing, but team sizes are shrinking, it’s not surprising that lawyers [who are] consistently 20, 30, 40 per cent over budget are taking the news of frozen salaries badly.”
Taylor Root also published a salary guide entitled: Taylor Root’s Legal Private Practice: Market Update and Salary Guide 2013, which reports that a lawyer at a top tier in Sydney and Melbourne with more than 10 years’ experience can expect to earn up to $280,000 compared to a mid tier, where the salary band maxes out at $220,000 in Sydney and $210,000 in Melbourne.