find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
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
protest
06:05
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
06:04
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
Warning
06:03
Lawyers warn against mandatory sentencing measures amid political jeers
Mandatory sentencing has become a topic for politicians on both sides of Federal Parliament to jostl...
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 & ...