LAWYERS – SALARIES

Salaries take a dive as profits fall

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Original article by Katie Walsh
The Australian Financial Review – Page: 32 : 31-Jul-15

Data from Mahlab Recruitment shows that Australian lawyers’ salaries have risen by an average of 3.4 per cent in 2015, compared with 3.8 per cent growth in 2014. A Mahlab report also notes that the salaries of partners at some leading law firms have fallen significantly in the last three years. Meanwhile, the growing trend for top law firms to merger with offshore peers has prompted some partners to leave and join smaller firms that have stayed independent.

CORPORATES
MAHLAB RECRUITMENT, HERBERT SMITH FREEHILLS PTY LTD, KING AND WOOD MALLESONS, ASHURST AUSTRALIA, ALLENS, K&L GATES LLP, NORTON ROSE FULBRIGHT AUSTRALIA, DLA PIPER, LINKLATERS LLP

Being female doesn’t pay

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Original article by Misa Han
The Australian Financial Review – Page: 36 : 28-Nov-14

Data from Australia’s Workplace Gender Equality Agency shows that the average pay gap between men and women across the economy is 24.7 per cent. However, this rises to 37.8 per cent in the case of women employees in the finance sector and 35.6 per cent in the legal sector. King & Wood Mallesons’ managing partner Sue Kench says women lawyers need to more actively "put themselves forward" in pay discussions

CORPORATES
AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY, KING AND WOOD MALLESONS, HOLDING REDLICH, MINTER ELLISON, THE LAW SOCIETY OF NEW SOUTH WALES, MADDOCKS LAWYERS

ATO sights on partners with guide to income-splitting rights and wrongs

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Original article by Katherine Towers
The Australian – Page: 31 : 5-Sep-14

The Australian Taxation Office (ATO) has issued a new guidance note on the practice of splitting income from a discretionary trust. The structure is becoming increasingly popular among professionals such as law firm partners, after the deregulation of the legal services market. While conceding that the method is "legally permissible", the ATO says it will monitor whether risk reviews and audits may be required

CORPORATES
AUSTRALIAN TAXATION OFFICE, KING AND WOOD MALLESONS