The legal industry in Australia is thriving, with lawyers demanding more and more money as they specialize their skills and become experts in specific areas of law. Law firms all over the country are looking to hire the best lawyers to represent their clients, and as such, competition is fierce when it comes to attracting new talent. To help give you an idea of the highest paying law firms in Australia, we’ve compiled a list of the top 10 highest paying law firms in AU.
Which law firms pay the highest in Australia? Do you wonder if there is a salary cap or salary floor on wage rates at top-paying law firms? What do entry-level associates earn at the best paying law firms in Australia? How much are partners making at elite law firms in Australia? How much do legal executives make at law firms with sky-high salaries?
When you start looking for law firms to work for you want to know about the highest paying law firms in Australia. But, how are you going to find out which law firms pay the best? More importantly how are you going to get a job with one of those companies?
This article will take you on a journey through the world of Australia’s highest paying law firms. It will show you the factors that can get your application noticed and lead to you getting an interview with these law firms.
1. Clayton Utz
Clayton Utz is an Australian law firm and one of its largest full-service commercial law firms. The firm was founded in Sydney in 1887 by Edmund Dwyer and remained a small family-owned business until it became a public company on 8 May 2004. It was listed on the Australian Securities Exchange (ASX) and is now headed by managing partner Peter Gray, who began his legal career with Clayton Utz in 1984.
The firm has more than 900 lawyers, with offices in Sydney, Brisbane, Melbourne, Perth, Adelaide and Canberra. Clayton Utz is the Australian member firm of Linklaters, an international law firm with over 2,500 lawyers in more than 30 countries. The firm has been ranked as the leading Australian law firm in the annual Asia Pacific Legal 500 guide since 2011 and is consistently ranked as one of the top Australian law firms by Chambers Global and Chambers Asia Pacific. In 2021, Clayton Utz was named the most attractive law firm to work for in Australia by the Great Place to Work Institute.
2. Corrs Chambers Westgarth
Headquartered in Melbourne, Corrs Chambers Westgarth is widely known as one of Australia’s leading full-service law firms. The firm is proud to have received numerous prestigious awards over its long history, including being named Law Firm of The Year at both national and international levels. Clients praise its superior communication skills and excellent track record. With offices throughout Australasia, Corrs Chambers Westgarth also handles corporate business overseas.
Corrs Chambers Westgarth has a long history of providing legal services to indigenous communities in Australia. The firm has worked with a range of indigenous communities and organisations on a pro bono basis, providing advice on a wide range of matters such as cultural heritage, governance, land rights and dispute resolution.
3. Allens Arthur Robinson
Allens Arthur Robinson is one of Australia’s leading full-service law firms. It was established in 1858 and has approximately 900 staff members, spread across offices in Melbourne, Sydney, Brisbane, Perth, and Auckland. The firm advises on corporate and securities law, banking and finance law, capital markets transactions, funds management services, and investment services, energy projects development work (including clean energy), infrastructure projects (including water infrastructure) as well as acquisition finance work.
The firm also has expertise in intellectual property and information technology, tax, and estate planning. The firm has been involved in some of Australia’s largest and most complex transactions, representing clients such as ANZ, National Australia Bank, Westpac, BHP Billiton, Rio Tinto, Telstra, Goodman Group, and many more.
4. Herbert Smith Freehills AU
Herbert Smith Freehills is an Australian full-service law firm that was established in Sydney, New South Wales, in 1875. They now have over 1200 staff members located across 11 countries, working out of 40 offices. The average salary for a legal professional at Herbert Smith Freehills AU is AU$125K per year. This is calculated as about AU$18/hr. or AU$21,000/month.
The top 10% of earners at Herbert Smith Freehills AU make over AU$250K per year. The lowest 10% of earners make under AU$50K per year. Most Herbert Smith Freehills AU lawyers are based in Sydney, Melbourne or Perth. Brisbane, Adelaide and Perth also have a significant presence. The firm’s main practice areas are banking and finance, capital markets, competition, construction, corporate and M&A, employment, environment, insurance, intellectual property, litigation and dispute resolution, planning and environment, projects, real estate, and tax.
5. Mallesons Stephen Jaques
In terms of earnings, Mallesons Stephen Jaques is the highest paying law firm. It’s been positioned at the top position for the last 7 years. In the year 2011, it earned a salary of around $130,000 for its most junior associate. If we talk about 2nd and 3rd position then Minter Ellison and Baker & McKenzie tied on 3rd rank with a salary of $135,000 and $130,000 respectively.
In terms of the number of law school graduates, Mallesons Stephen Jaques is the largest law firm in Australia. It has more than 1100 lawyers, who are not just based in Australia but also in many other countries. It’s a leading law firm in many areas like capital markets, mergers and acquisitions and intellectual property. In the year 2001, Mallesons Stephen Jaques merged with the UK-based firm, King & Wood. After the merger, the firm became the first international law firm to list on the Australian Securities Exchange. In the year 2008, it again merged with Blake Dawson Waldron to form Mallesons Stephen Jaques.
6. Gilbert + Tobin
Gilbert + Tobin’s primary services include corporate and commercial, insolvency and restructuring, employment, project, and infrastructure finance. The average salary is AUD 180k (120k USD). However, most partners can expect to earn anywhere from AUD 250-350k. Great for lawyers who want to work hard but also take some time off for vacation/holidays. The firm offers first-year associates around 4 weeks of vacation per year that increases as you gain experience/rank at the firm.
7. King & Wood Mallesons
This law firm is pretty impressive with its average revenue per partner at $1.46 million per year. The catch here is that King & Wood Mallesons has more than 3,000 partners, which makes their revenue-per-partner average much higher than other companies that have fewer partners. However, if you’re looking for a good salary as a lawyer in Australia, you should consider applying to work for KWM.
8. DLA Piper
The largest of Australia’s Magic Circle law firms, DLA Piper is a global leader in business law, with offices on five continents. Their headquarters are located in Sydney’s Darling Harbor, and their lucrative law practice has made them one of Australia’s highest-earning companies. They were named #1 by The Australian Financial Review for ten years running.
9. Ashurst AU
Ashurst’s market capitalization is about $2.5 billion, and it operates from 29 offices in 19 countries. It has a presence in Hong Kong, Beijing, Shanghai, Dubai, and Abu Dhabi. The firm advises on mergers and acquisitions, private equity transactions, restructuring, and insolvency work. The minimum fee for its Australian-qualified lawyers is AU$1,650 per hour.
10. Baker & McKenzie
At Baker & McKenzie, you’ll be offered a comprehensive training program designed to prepare you for a career with one of Australia’s most prestigious firms. Headquartered in Sydney, with offices across Australia and internationally, Baker & McKenzie offers an extensive range of legal services including corporate, tax, and commercial law. In addition to competitive salary packages, Baker & McKenzie offers generous bonuses for high performers.
The law is a lucrative career, no matter where you live. Some positions earn more than $250,000 per year—in addition to generous benefits packages—in almost every area of legal practice. Here are some key tips for breaking into one of these sought-after positions: Make connections early in your career—these can take years to pay off, but when they do they’ll help you take your practice or company to new heights.
Conclusion
When it comes to the highest paying law firms in Australia, there is no doubt that they are all located in major cities and they all specialise in industry-specific practice areas.
The legal industry in Australia is massive and requires a lot of support employees such as many paralegals. If you’re looking to break into a lucrative career that is rewarding, fulfilling and well-paying, the best way to get started would be to find an internship and get a foot in the door.
Hopefully these tips have been able to answer most of your questions. You can also get an idea of where we got our data from by looking below at how we determined the average amount paid in a typical law firm in Australia for each type of job – which we considered the best way to establish a typical salary.
FAQs
- What are the different types of law firms in Australia?
There are two types of law firms – commercial and litigation. Commercial law firms work with companies to advise them on their business operations and advise businesses on how they can enter into agreements and contracts.
- How to target the top firms?
The best way to do that is to ask alums and current attorneys who work there what kind of resumes they like to see or who you should be networking with at your law school. Once you’ve worked on putting together a resume, cover letter, and optionally some letters of recommendation for each firm/position you’re applying for, submit them online.
- What makes up a law firm’s ranking and reputation?
A law firm’s reputation is mainly reflected by its past track record of high-quality work, especially on cases that may be looked at as controversial. A reputation is also created through networking with other high-profile attorneys and judges within an area of law.
- How can I find the right firm for me?
Choosing a law firm can be one of your most important decisions because you are entrusting your future to them. If you are thinking about joining a law firm then you need to be sure that it is right for you. However, many factors should be considered before deciding which type of law firm to join.