Suburban Law Firm Salary (2 Viewers)

[magic]

Hi,

I was just wondering what is the going rate for work as a newly graduated solicitor in a suburban general law practice. Is it $35,000-$40,000. Also how much is the going rate for 2 years post admission experience in a suburban general law practice?

Thanks

 

[dste6]

This annual survey may help you. I would look at the small firms for an indication. Keep in mind that all figures will have risen since 2007.

http://www.mahlab.com.au/files/Survey2007PPAustralia.pdf

 

[withoutaface]

Hi,

I was just wondering what is the going rate for work as a newly graduated solicitor in a suburban general law practice. Is it $35,000-$40,000. Also how much is the going rate for 2 years post admission experience in a suburban general law practice?

Thanks

Hahaha if that's the case then you'll be getting paid less than I have as a clerical assistant at a firm with two solicitors ($21/hr).

 

[dste6]

I think people focus too much on graduate salary as an indicator of financial reward in this profession. In a sense, why should a 1st year level, junior solicitor, be paid more than a paralegal, who may have years of experience in their role; someone in their 1st year of most professions doesn't know shit, why should they be paid as if they do?

Instead, I think its a better idea to focus on the impressive rise in salary as your career progresses. You may be potentially earning 3-4 times more within only 10 years. That is very good progression compared to other careers, I think.

 

[Omnidragon]

I think people focus too much on graduate salary as an indicator of financial reward in this profession. In a sense, why should a 1st year level, junior solicitor, be paid more than a paralegal, who may have years of experience in their role; someone in their 1st year of most professions doesn't know shit, why should they be paid as if they do?

Instead, I think its a better idea to focus on the impressive rise in salary as your career progresses. You may be potentially earning 3-4 times more within only 10 years. That is very good progression compared to other careers, I think.

Hmm... see the problem is that the rise is not that impressive.

Yea sure you could be earning 3-4 times within 10 years, but you probably won't be. The rise is not that great. And you are talking about a suburban firm in particular yea?

If you do end up getting 3-4 times within 10 years, that's probably because you're half-decent. But that means you probably would've been that successful in anything you did anyway. You probably could've been a real estate agent. Hell you can probably make 10x in 10 years time if you were riding a good boom.

But no generally I wouldn't go into law, let alone a surbuban law firm, expecting 4x rise in salary.

 

[dste6]

Omnidragon, I was basing my arguement on the data in that survey, I assume those figures were derived from a representative sample size of the industry in Australia, and are reasonably correct? Both low and high ends of the range tend to follow this trend as well.

I realize that this is not an independent academic study, so if you feel these figures are incorrect, please let me know.

I was talking about the career as a whole; I've noticed a lot of people on this forum saying that they feel lawyers don't get paid that well. I think this 10 year salary progression is very good compared to majority of the Australian workforce. Growth potential in Australia is not that high, we're not America .

 

[cannibal.horse]

Hmm... see the problem is that the rise is not that impressive.

Yea sure you could be earning 3-4 times within 10 years, but you probably won't be. The rise is not that great. And you are talking about a suburban firm in particular yea?

If you do end up getting 3-4 times within 10 years, that's probably because you're half-decent. But that means you probably would've been that successful in anything you did anyway. You probably could've been a real estate agent. Hell you can probably make 10x in 10 years time if you were riding a good boom.

But no generally I wouldn't go into law, let alone a surbuban law firm, expecting 4x rise in salary.

I don't get this.

I know an insurance lawyer who works in a small time partnership in Newcastle (in his 50s) earning enough to own a yacht worth a couple of million.

I also know a public prosecutor with a massive farm estate.

Surely the salaries in boutique firms can't be that shit.

 

[dste6]

Look I think a lot of it comes down to what kind of numbers one regards as 'impressive'.

5-10 years ago, Deliotte, P&G, Thales were coming into graduate careers fairs, poaching law and engineering graduates into 120k positions off the bat with huge growth promise. This does not happen anymore. 5-10 years ago, a douchebag carpet salesman could earn his real estate agent hefty commission on loans to buy up warehouses and showrooms. This is winding down.

I think now days, and certainly into the next 10 years, a projection of 150-180k is for a moderately successful lawyer (lets give ourselves benefit of the doubt here ) in a sensible area of practice is both realistic, and imho impressive.

Of course, 150-180k at the age of 30 does not buy (or finance) you a porsche, but you are sitting in a 370Z or an A4 if you like...and thats nothing to complain about .

 

[Omnidragon]

I don't get this.

I know an insurance lawyer who works in a small time partnership in Newcastle (in his 50s) earning enough to own a yacht worth a couple of million.

I also know a public prosecutor with a massive farm estate.

Surely the salaries in boutique firms can't be that shit.

Well that's like saying I know real estate agents that own a yacht and live in mansions. I also know chefs who live in million dollar houses too and eventually go on to own a few restaurants. There're people who succeed in every industry. But if you're basing your career choice on a few select, successful people that's a bit misinformed.

 

[Omnidragon]

Omnidragon, I was basing my arguement on the data in that survey, I assume those figures were derived from a representative sample size of the industry in Australia, and are reasonably correct? Both low and high ends of the range tend to follow this trend as well.

I realize that this is not an independent academic study, so if you feel these figures are incorrect, please let me know.

I was talking about the career as a whole; I've noticed a lot of people on this forum saying that they feel lawyers don't get paid that well. I think this 10 year salary progression is very good compared to majority of the Australian workforce. Growth potential in Australia is not that high, we're not America .

Yeaaa... I feel the small firm figures are a bit misleading since the upper bound is reached by few at small practices.

But I guess if you meant it looks pretty good compared to most factory workers, yea maybe.

 

[cannibal.horse]

Well that's like saying I know real estate agents that own a yacht and live in mansions. I also know chefs who live in million dollar houses too and eventually go on to own a few restaurants. There're people who succeed in every industry. But if you're basing your career choice on a few select, successful people that's a bit misinformed.

Mate, in cities like Newcastle working in areas like insurance, property (particularly with development companies), mining and medium sized businesses earning 100K+ is pretty standard after 5-10 years. I can't quote you exact figures but ALOT of my friends parents are earning more than my parents as teachers.

I understand what you're trying to say and you're right - any business where you don't own capital you're not going to be raking it in. But still, if a mcmansion, spoodle and speed boat is what you're after and you're willing to put in the hours, practicing law at a boutique/mid tier firm is a good way to go about it.

btw: I don't base my career on money, but spoodles are fair awesome.

 

[dste6]

whats a spoodle?

 

[cannibal.horse]

whats a spoodle?

A crossbreed of poodles and cocker spaniels.

Medium sized, intelligent, are non allergenic and good natured, so they're a good family dog.

It's like the new Labrador.

 

[Omnidragon]

Mate, in cities like Newcastle working in areas like insurance, property (particularly with development companies), mining and medium sized businesses earning 100K+ is pretty standard after 5-10 years. I can't quote you exact figures but ALOT of my friends parents are earning more than my parents as teachers.

I understand what you're trying to say and you're right - any business where you don't own capital you're not going to be raking it in. But still, if a mcmansion, spoodle and speed boat is what you're after and you're willing to put in the hours, practicing law at a boutique/mid tier firm is a good way to go about it.

btw: I don't base my career on money, but spoodles are fair awesome.

Well if one gloats about earning 100k+ in 10 years, might just struggle a bit with the McMansion, unless you're talking about buying in Newcastle.

 

[cottoneye]

You will not be rich as a lawyer in Australia (except for a select few) but you will also not be poor (unless desperately unlucky or entirely not cut out for the profession. The vast majority of lawyers earn good incomes. Depending on your background, lifestyle and expectations you might consider yourself either well-off or underpaid.

Australia doesn't have the stratospheric salaries as seen in NY, London, etc experienced during the naughties boom. I refuse to accept that 100k/yr is a low income. If you manage your money well you can have a nice house, nice car, overseas holidays and change. It just means you cannot fly first class, have a 12 bedroom mansion and drive a ferrari.

 

[dste6]

I think we should all drop this silly law business. Its a complete waste of our time, spending all day reading and writing...for a mere 100k!? Outrageous. How ever shall we feed our children! Or even our dogs!?
Look at the poor spoodle...for christ's sake man, he needs caviar!

I have the solution: we should all become gastroenterologists. We'll make our 500K+ easily...all we have to do is spend the next 20 years half way up someones ass.

 

[jtyler]

lol.. what a shock it must be for some people

turns out it's not a good idea to blindly follow "the money" and study something you don't enjoy... who knew...

 

[cannibal.horse]

lol.. what a shock it must be for some people

turns out it's not a good idea to blindly follow "the money" and study something you don't enjoy... who knew...

I want to throttle those people.

'I did law coz I wasnt sure what I wanted to do and mum said I should pick it coz I had the marks'

There's a girl in my course who's doing law because her parent's made her, she doesn't even want to be at our university...wtf?

The more of them there are the less spoodles to go around, and considering they were too good for spoodles in the first place it makes me mad.

 

[dste6]

'I did law coz I wasnt sure what I wanted to do and mum said I should pick it coz I had the marks'

That's a prime example of why I agree with the Melbourne Model (shifting law and med to postgrad only) that we have down here. Its not a very popular opinion, and I concede that in part its a money making scheme by Melb Uni.
...but there are alot of high school students that have no business, what so ever, deciding that they want to study law or medicine while they're in year 12.

 

[cottoneye]

I want to throttle those people.

'I did law coz I wasnt sure what I wanted to do and mum said I should pick it coz I had the marks'

There's a girl in my course who's doing law because her parent's made her, she doesn't even want to be at our university...wtf?

The more of them there are the less spoodles to go around, and considering they were too good for spoodles in the first place it makes me mad.

Unfortunately this is a problem at all universities and all courses. The higher the lay prestige of a university or course the more people who do not know what they want to do will begin the course just to do something. Some may find they enjoy what they study and make a career out of it, some will transfer, some will fail, some will just work in another area. The high rate of law students who have no intention of working in the law or leave after a year or two is indicative of how misunderstood a life in the law is. No-one really knows if they will enjoy or succeed in any field before they try, the difference with law and medicine is you are looking at serious time and financial commitments to have that shot.