find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (1-3 PAE)
Category: Insurance and Superannuation Law | Location: Sydney NSW 2000
· Join a dynamic Firm · Excellent career growth opportunity
View details
In-house lawyer 1-4 PAE
Category: Generalists - In House | Location: Adelaide SA 5000
· Leading Brand · Report to a Dynamic Legal Counsel
View details
Don't bank on a bonus

Don't bank on a bonus

Despite market improvements over the last 12 months, little is expected amongst the legal profession when it comes to end-of-year bonuses. Briana Everett reports.The chance of an end-of-year…

Despite market improvements over the last 12 months, little is expected amongst the legal profession when it comes to end-of-year bonuses. Briana Everett reports.

The chance of an end-of-year windfall has been given very little thought by Australian private practice lawyers, according to a legal recruitment consultant, because of low expectations and the availability of other career opportunities.

"While the market is certainly better than last year, a lot of lawyers will not be achieving personal performance triggers," explains Laurence Simons consultant, Sean Murphy. "The lawyers that I have talked to just aren't talking about [them or] expecting them."

According to Murphy, most lawyers are staying put in their current role not on the expectation of receiving a bonus, but because they feel there will be more stability and opportunity in the market next year.

"Bonuses are regarded somewhat cynically by a lot of younger lawyers in private practice," Murphy says. "The feeling is that the triggers are set too high and the value of bonuses for lawyers in private practice is small when compared to potential bonuses for in-house roles."

But despite this lacklustre feeling towards bonuses amongst the industry, the continued strength of the Australian dollar is adding to salary pressure and allowing Australian lawyers to explore career options overseas.

According to Hays director Graeme Doyle, the strong Australian dollar, the rising job numbers and the emerging skills shortages make a compelling argument for any lawyer wanting to approach their manager for a salary increase.

"Candidate confidence has been steadily rising all year," Doyle says. "The jobs market in Australia has recovered quickly in comparison to many other markets internationally...with such a strong employment performance, candidate salary expectations are rising."

Doyle says the strong dollar is also contributing to a steady rise in the number of professionals having the means to explore working options internationally.

"The strong dollar gives Australians the opportunity to relocate, set themselves up and pay for living expenses while searching for a job in an overseas location."

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Don't bank on a bonus
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...