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Graduate salaries 2011 (1 Viewer)

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twa13

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For those that received grad offers - where will you be working and what is your starting salary?
 
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http://www.hays.com.au/salary/pdfs09/Legal.pdf

Hays (recruitment co) has a salary guide with specific references to top and mid tier salaries for different cities.

Bear in mind that not all graduates in law end up practicing law. A substantial proportion enter into the accounting and finance fields e.g. investment banks and big 4 acc. firms and big 4 banks.

Others get roles in Govt at a State and Federal level. e.g. All Commonwealth Departments in Canberra accept law graduates.

Special consultancy firms take a fair share as well as special organisations (e.g. ASIC and ACCC)

Lastly, an elite few end up working as associates, tipstaff and court researchers.

There are other examples - they are too numerous to name.
 
flamearrows

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As a package, I think $65k is on the low side for top tier firms.

You can quite easily look up graduate pay rates for government agencies if you wish.

Investment banking salaries are anecdotally around $100k + bonus (~$150k) and probably more than that in the bulge bracket firms.

I will be working at a consultancy firm.
 
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I've had a look through some graduate guides but I want to get an idea of specific packages, if people are willing to share.

It's often a difficult subject to discuss but I think it's important to gain a realistic understanding of exactly how you will be remunerated - eg. does the figure include super and are there any bonuses?
 
flamearrows

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twa13 said:
I've had a look through some graduate guides but I want to get an idea of specific packages, if people are willing to share.

It's often a difficult subject to discuss but I think it's important to gain a realistic understanding of exactly how you will be remunerated - eg. does the figure include super and are there any bonuses?
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Why is it that important? I can't imagine it'll greatly influence your decision as to where to apply, and if you receive multiple offers then you'll know about the salaries.
 
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twa13

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Being informed is important to me.

I want to understand how individual employers structure their pay packages and the only way to find out is to ask. After all, a $60 000 package is an after tax (and HECS) salary of approx. $41 000.

But don't let me stop you playing devil's advocate.
 
flamearrows

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twa13 said:
Being informed is important to me.

I want to understand how individual employers structure their pay packages and the only way to find out is to ask. After all, a $60 000 package is an after tax (and HECS) salary of approx. $41 000.

But don't let me stop you playing devil's advocate.
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You're asking people to give up information that is commercial in confidence to satisfy your own curiosity.
 
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twa13

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Like I said, it's a difficult subject to broach. However a forum like this one seems perfect for asking such questions.

Flamearrows - You are under no obligation to answer so why not refrain from imposing your obvious flare for discussion board dramatics and allow those that wish to answer to do so?
 
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flamearrows said:
You're asking people to give up information that is commercial in confidence to satisfy your own curiosity.
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my friend, a big law firm knows the salary levels of every other big law firm in the city. in the industry, this is commonly referred to as 'market-based remuneration'. (others would call it 'cartel conduct'.) therefore, with respect, i wouldn't put the label 'commercial in confidence' to the figures, even if in strictness that's what it says in our standard form employment contracts.

to answer OP's question, i refer to firmspy's recent survey results:
based on my experience, the grad salary figures quoted are more or less on the mark.
 
flamearrows

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Frigid - my point was more that the same atmosphere of transparency doesn't apply to the other types of firms. I, for one, am certainly not going into graduate law.
 
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Frigid said:
my friend, a big law firm knows the salary levels of every other big law firm in the city. in the industry, this is commonly referred to as 'market-based remuneration'. (others would call it 'cartel conduct'.) therefore, with respect, i wouldn't put the label 'commercial in confidence' to the figures, even if in strictness that's what it says in our standard form employment contracts.

to answer OP's question, i refer to firmspy's recent survey results:
based on my experience, the grad salary figures quoted are more or less on the mark.
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Hahahah well said my best friend in Sydney on BOS
 
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In this climate, I was so happy to get a grad offer I wasn't terribly concerned about the adequacy of the remuneration, although having read the materials that people have kindly posted here, its nice to know that my offer is fairly decent.

That being said, factoring in HECS debt and tax, the difference between 55 and 70 is far from earth-shattering. Also, grads tend to move around in the first few years of their career. The most important thing is getting your big break. I think the key in that regard is persistence and acing your interview. I had not one- but TWO fails on my academic transcript, both in my first semester. I spoke about them frankly and honestly, and how I apply the lessons I learned to my attitudes toward both study and work. I guess my point is, if you have a couple of passes, don't treat it like some deep dark secret shame. Think of some interesting things to say about it- even be proactive in bringing it up.
 
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Frigid said:
my friend, a big law firm knows the salary levels of every other big law firm in the city. in the industry, this is commonly referred to as 'market-based remuneration'. (others would call it 'cartel conduct'.) therefore, with respect, i wouldn't put the label 'commercial in confidence' to the figures, even if in strictness that's what it says in our standard form employment contracts.

to answer OP's question, i refer to firmspy's recent survey results:
based on my experience, the grad salary figures quoted are more or less on the mark.
Click to expand...
I'm suprised, some of those grad salaries in the 60s seem pretty low considering the calibre of students who score places with the big firms. Although salary progression looks good, some are almost as low as big 4 accg.

Are those "billable targets" daily targets? 7 hours/day looks pretty tough.
 
flamearrows

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CharlieB said:
I'm suprised, some of those grad salaries in the 60s seem pretty low considering the calibre of students who score places with the big firms. Although salary progression looks good, some are almost as low as big 4 accg.

Are those "billable targets" daily targets? 7 hours/day looks pretty tough.
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Yeah, those are daily targets.
 
melsc

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Where I am currently everyone must enter 7.5 hrs of combined billable/ non billable time. I haven't been set a daily target but I will be soon. I currently am averaging 6 or so billable hrs. That said being crazy busy in
discovery makes it easier
 
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