A survey has revealed that top tier firms may not be the best place to head if you fancy earning wheelbarrows-full of cash. It's the boutique firms which may offer the best dollar.
According to Mahlab's Recruitment's salary survey, the shift is being driven by the trend for top tier partners to swap endless all-nighters for the more reasonable life of a mid-tier or boutique firm lawyer. Such partners not only bring high-calibre work with them, but also thrusting young associates who are looking for better partnership prospects than the top tier firms can offer. And this combination of good work and stellar talent is allowing smaller firms to offer well above market salaries.
But even for those sticking it out in the top tier firms, there's still good news as far as salaries are concerned. The survey reveals that private practice lawyers have seen an average base salary increase of a whopping 23% nationally - with some star performers at junior levels trousering 30% increases in a single year. Overall, salary bands have increased by an average of 6.53% while Perth has seen the biggest pay increases - which isn't too surprising given the current energy and resources boom in WA .
And yet, despite the salary boosts and the dramatic increases in recruitment levels, lawyers still aren't happy. The survey found that over half of those surveyed (52%) were unhappy with their salary reviews this year. Oh, and their diamond shoes were also too tight.
Tip Off ROF
According to Mahlab's Recruitment's salary survey, the shift is being driven by the trend for top tier partners to swap endless all-nighters for the more reasonable life of a mid-tier or boutique firm lawyer. Such partners not only bring high-calibre work with them, but also thrusting young associates who are looking for better partnership prospects than the top tier firms can offer. And this combination of good work and stellar talent is allowing smaller firms to offer well above market salaries.
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A mid-tier lawyer taking home his pay yesterday |
But even for those sticking it out in the top tier firms, there's still good news as far as salaries are concerned. The survey reveals that private practice lawyers have seen an average base salary increase of a whopping 23% nationally - with some star performers at junior levels trousering 30% increases in a single year. Overall, salary bands have increased by an average of 6.53% while Perth has seen the biggest pay increases - which isn't too surprising given the current energy and resources boom in WA .
And yet, despite the salary boosts and the dramatic increases in recruitment levels, lawyers still aren't happy. The survey found that over half of those surveyed (52%) were unhappy with their salary reviews this year. Oh, and their diamond shoes were also too tight.