To attract top legal talent, Perth law firms have raised associate salaries, highlighting intense competition and a strong legal market.
PERTH, AUSTRALIA, June 19, 2024 /EINPresswire.com/ -- In a move reflecting the evolving legal landscape of Western Australia, some leading law firms in the state have significantly raised salaries, aligning them closely with those seen in Sydney. Here is what's changed and why.
Recognising the crucial need for talented associates, law firms in Perth are offering associates up to 30% higher base salaries than we saw a year ago. A legal recruiter from Sonder Consultants, Matthew Mayes, highlights an example:
"Partners in Perth are presenting some sizeable offers to secure talent. A Senior associate (Level 1) I recently worked with accepted an offer of $200,000 at a market-leading national firm. This is in line with recent offers in Sydney."
Mayes also addresses the driving factors behind these salary increases:
''With plenty of minerals, oil, and gas, the state's economy leans heavily on extracting and distributing these resources. As a result, there's a strong need for lawyers specialising in resources and energy law. We've observed a steady increase in associate firm moves from 2023, especially at the mid-senior level. As firms compete to secure top talent, salaries are climbing.' Areas where lawyers are in high demand include energy, projects, environment and planning, employment, and commercial litigation.”
Western Australia excels in three key areas: low taxes, energy prices, and high wage growth, leading all other states. It ranks second in job growth and business investment, and is the nation's top economic performer (IPA).
Remarkably, the resources sector in Western Australia alone constitutes 9% of the nation's GDP, with a direct economic contribution of $131 billion. Recent developments, including the delivery of new wind turbine blades (one higher than New York’s Statue of Liberty) and substantial investments in renewable energy, are driving continued economic advancement.
In recent times, Perth law firms have strategically bolstered their teams with new Partners to capitalise on evolving market conditions. HFW welcomed four Partners from MinterEllison across various areas at the end of 2023. Gilbert + Tobin enlisted George Varma from Pinsent Masons for its energy and resources team in December. Thomson Geer also gained a Banking and Finance Partner from Allens. Piper Alderman recently added a Partner from HWL Ebsworth for projects, infrastructure, and construction.
Herbert Smith Freehills now boasts one of the largest mining, energy, and infrastructure teams in Perth, highlighting their strategic focus. Allen & Overy, a London-based multinational law firm, now has 27 partners working across its Sydney and Perth offices and are a top-ranking law firm for project development in the mining sector and project finance.
With a keen eye on the future, these efforts aim not just to attract but to empower the legal professionals shaping the trajectory of Western Australia's legal sector. Matthew Mayes comments on opportunities for lawyers – "For young, ambitious lawyers, or those with families, working at a top-tier law firm in Perth can offer several benefits. Attractive pay, access to quality work, development and partnership opportunities, not to mention the far lower living costs."
If you are a lawyer located in Australia seeking a new challenge, Perth may have the answer. For more information, please download Sonder Consultants' Australia Legal Salary Guide.
About Sonder Consultants:
Sonder Consultants is a premier global legal recruitment agency specialising in private practice associate placements. Founded in 2016 in Sydney, they've expanded to serve the Australasia market and established international offices in London, New York, and Los Angeles. They build lasting relationships with a diverse array of employers, from leading US and international legal practices to esteemed niche law firms worldwide.
About Matthew Mayes:
As a Senior Consultant within the Sydney office of Sonder Consultants, Matthew Mayes specialises in aiding lawyers and law firms in identifying and recruiting the ideal opportunities and legal talent.
Contact Information:
To attract top legal talent, Perth law firms have raised associate salaries, highlighting intense competition and a strong legal market.
Rebecca Adlington
Sonder Consultants
+61 2 8277 4511
info@sonderconsultants.com
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