Australia | Banking and financial services salary guide and market report 2020-21

Taylor Root is pleased to present our 2020-21 In-house salary guide and market reports for the banking and financial services legal sector in Australia.

Each year we aim to provide our clients and candidates with relevant and timely remuneration data that can help legal departments and individual lawyers make more informed business and career decisions. Unfortunately, a lot has changed since we presented our last report and the challenge of COVID-19 has impacted all of us.

By means of introducing this report, below is an extract from the report.

More than a decade after the Global Financial Crisis rocked the Banking and Financial Services industry sector, the novel coronavirus (COVID-19) pandemic is threatening to do much worse. Unlike the Global Financial Crisis, the COVID-19 crisis was not caused by problems in the Banking and Financial services industry, yet it has already caused significant economic damage and brought about unprecedented federal and state government stimulus packages.

The pandemic has not only brought on devastating health impacts and economic turmoil but has also created substantial change across the business landscape, including the Australian legal marketplace. Whilst these changes are still unfolding, and some changes are yet to emerge, the sector will look vastly different to pre-covid times.

Areas covered in this year’s reports include: