find the latest legal job
Senior Associate - Competition, Policy & Regulatory
Category: Other | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Work with a well regarded Partner · Sydney CBD
View details
Commercial Litigation Senior Associate
Category: Litigation and Dispute Resolution | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Lawyers Weekly Australia Partner of the Year 2016, Insolvency
View details
MULTIPLEX Regional Legal Counsel (Vic) | 7 to 10 years + PQE
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Career defining in-house role · Tier One international contractor
View details
Junior Lawyer - Personal Injury Law
Category: Personal Injury Law | Location: Parramatta & Western Suburbs Sydney NSW
· Highly specialized practice · Challenging role with great opportunities
View details
IR Advisor/Member Advocate
Category: Industrial Relations and Employment Law | Location: St Leonards NSW 2065
· Permanent (0.8-1.0 FTE) role in a developing team
View details
Salary freeze at Mallesons Stephen Jaques

Salary freeze at Mallesons Stephen Jaques

Mallesons has confirmed a pay freeze.

MALLESONS Stephen Jaques has today confirmed a pay freeze.

It's a freeze across the board for the next financial year, a Mallesons spokesperson told The New Lawyer.

"It may not run that long if at the end of this calendar year the firm is tracking solidly," she said.

"Robert Milliner has held off making a response to the GFC for as long as he could. "In line with what other firms are doing it's prudent to look at measures like this," she said.

Partner income will be down, and the freeze applies to everyone across the board.

Mallesons staff were notified of the news at 11am this morning. Everyone at the firm is still eligible for bonuses, and there may be some promotions, which would then attract a higher salary for those going from lawyer to senior associate, or from senior associate to special counsel.

"Partners are assessed on points. The most senior have 100 points and then the others are arranged with fewer points. So your split of profit comes based on your points. So for the partners it means the overall pool from which their take comes will be smaller this year. So partners are taking a haircut too."

There are no specifics on how much partner income is down because it will not be assessed until 30 June. The only exception apart from occasional promotions is graduates.

They are admitted in October and admission to solicitor represents a promotion, and that will be recognised with a salary increase.

Pressed as to how partners and lawyers are taking the news, The New Lawyer was told: "I think there is a general acceptance that times are more challenging.

All firms have to look at what measures they can take to keep the crew together."

 

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

Salary freeze at Mallesons Stephen Jaques
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Human body, illegal organ trafficking, ALHR
Sep 22 2017
Australia poised to combat illegal organ harvesting: ALHR
The Australian Lawyers for Human Rights are calling for changes to the law so that organ trafficking...
Online service, barristers, BarristerSELECT, Stephen Foley
Sep 22 2017
New online service leverages barristers’ clerks to aid briefing
A new online tool has been launched to help NSW solicitors find the most suitable barristers for the...
NSW District Court judge, Tim Gartelmann SC, next appointment,
Sep 22 2017
Silk replaces outgoing NSW District Court judge
A barrister has been named as the next appointment to the NSW District Court, following the retireme...
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 & ...