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Michelle Naisbitt
In-house team
Leeds office
Australia - Legal Market Overview
Law Firms
There are a relatively small number of law firms – perhaps seven or eight –which dominate the legal scene in Australia. Most have offices in each of the capital cities. They are effectively the ‘Magic Circle’ equivalent. Outside these strong local players, there is an even smaller number of non-Australian international firms which have bases in either Sydney or Melbourne. It is only these larger Australian and foreign firms and a select number of mid-tier firms which will hire foreign lawyers.
The firms tend to provide a full legal service to their large corporate clients and focus on specialisations such as corporate and finance.
When considering foreign applicants, the firms are now prepared to consider newly qualified candidates, depending upon demand for their area of experience. Historically lawyers needed to have one year’s PQE to be eligible for consideration, but employers are more flexible now.
Firms will normally only consider applicants with experience gained at highly regarded City or leading regional firms.
In-House
The in house sector continues to grow in Australia. The vast majority of in-house legal roles can be found in Sydney and Melbourne. Both capital cities have an even spread of organisations across the manufacturing, technology, media, pharmaceuticals, construction and energy and resources sectors. Sydney does host the vast majority of the banking and financial services institutions, which can give the perception that this is a ‘busier’ location.Brisbane and Perth have continued to remain active. Whilst the size of legal teams is not to the scale of the large legal directorates in a Sydney and Melbourne, there has been an increase in the number of lawyers working in-house, especially in the resources industry.
The size of in-house legal teams in Australia can vary, even amongst companies in similar industries. Most in house legal teams would have anything up to eight lawyers, working on a broad range of legal issues. The major listed organisations such as the banks, telecommunications and resources giants have legal teams with 80-plus lawyers, who will perform the company’s work in groups.
Lawyers with strong banking and finance, corporate M&A, projects or construction experience are highly sought-after, with companies offering sponsorship and relocation packages.
Remuneration
Lawyers are very well paid in Australia. However, this appears not to be the case when compared against salaries of other jurisdictions. But because the cost of living in Australian cities is significantly less than in, say, London or New York, your salary will afford you a great lifestyle.
Foreigners who relocate for work on a sponsored visa will usually be eligible for a Living Away From Home Allowance (LAFHA). Put simply, this will allow you to deduct the cost of things like rent from your gross income and greatly reduce your tax bill. It is quite common for foreign employees to increase their salary by around $20,000 (net) on this basis alone.
Salaries are quoted as a ‘package’. The package incorporates base salary plus superannuation. ‘Super’ is a 9% contribution made by all employers and is paid, tax free, into a fund accessed in the future in the form of a pension. This sum can be reclaimed when you leave the country. 20 days is the usual annual leave allowance.
For further information on the legal market and job opportunities in Australia please contact your nearest Taylor Root office:
London:
Shobana Kanagasingham E: shobanakanagasingham@taylorroot.com T: 020 7415 2828
Dubai:
Shane Morton E: shanemorton@taylorroot.com T: +971 4 319 7601
Hong Kong:
Michael Luckett E: michaelluckett@taylorroot.com.hk T: +852 2973 6333
Sydney:
Ruth Salamon E: ruthsalamon@taylorroot.com.au T: +61 (0)2 9236 9000
Melbourne:
Carolyn Morton E: carolynmorton@taylorroot.com.au T: +61 (0)3 8610 8400
