At JLegal, we have witnessed first-hand the rapid expansion of in-house legal teams over the past several years. As a specialist recruiter for Australia’s top law firms and leading companies, we have seen the search for top legal talent intensify – and in-house lawyer roles are more coveted than ever.
Based on our research findings and experience, placing hundreds of practitioner lawyers and in-house counsels annually, JLegal anticipates the pace of in-house hiring will continue unabated for the foreseeable future.
In-house legal teams are expanding to handle more matters internally in a cost-effective manner. Meanwhile, stellar candidates are pursuing more stable in-house roles that offer better work-life balance alongside corporate career growth.
For both legal employers and talent, it is still an optimal job market. Companies across all industries have a number of Legal Counsel open roles, as well as General Counsel positions, presenting no shortage of opportunities for ambitious lawyers to transition or make lateral moves in-house. Salaries also continue rising to attract top-tier candidates, making the pay and advancement potential of in-house roles extremely competitive with private practice.
In this blog, we will use our data and recruitment expertise to closely analyse Australia’s in-house legal hiring market. We examine the drive behind the job growth, rising salary levels for both junior and senior lawyers, pathways for long-term career progression, and how specialist recruiters like us connect top talent to the country’s most exciting companies. For both legal employers and counsels, the outlook remains bright.
High Growth in Open In-House Positions
The demand for in-house lawyers in Australia reached an all-time high in 2022 and 2023, according to our data. Over the past year alone, the number of open in-house counsel and legal operations roles tripled. This exponential growth coincides with businesses rapidly expanding their in-house legal capabilities.
We saw companies across all industries, from technology start-ups to large multinationals, aggressively hire for legal talent. Companies that historically relied fully on outside counsel are now building out robust internal teams. Leading firms in sectors like financial services, healthcare, media, and real estate have open headcounts for 5+ legal counsel, simultaneously.
Moreover, the types of in-house opportunities diversified dramatically from primarily corporate/commercial roles. There is surging demand for lawyers specialising in employment, IP, compliance, privacy, and litigation – representing exciting new avenues for legal practitioners to transition in-house. Australia’s startup environment is also booming, creating roles for the first ever lawyer in Class A companies perfect for mid-level lawyers.
With in-house teams absorbing a majority of day-to-day legal work, we expect this upward trajectory of new positions to continue. Investments in legal technology and operations are further accelerating capability build-outs.
For talented lawyers at all stages of their careers, the sheer volume and variety of open roles generates no shortage of options to transition in-house. We expect the war for legal talent in Australia to intensify as companies compete to attract and retain standout counsels.
Higher Salaries Draw Top Legal Talent In-House
The salaries for in-house counsel roles have increased substantially, making them extremely competitive with private practice. Based on our compensation data, average pay for legal counsels and senior lawyers at Australian companies now matches and sometimes even exceeds top commercial law firms.
For instance, a 4-6 PQE lawyer exiting for an Australian ASX 100 company can expect base compensation between $150-170k, with additional bonus, equity, and benefits potentially bringing total close to $200k. This makes in-house roles extremely financially appealing. Even legal counsels with only a few years experience can earn $120-150k.
Beyond base pay, upside potential through bonuses and stock options are enticing lawyers. The average GC bonus exceeded $300k for ASX 20 companies last year. Equity grants for standout lawyers at unicorn startups can create a significant wealth accumulation avenue unavailable in private practice. With their legal expertise directly enabling business outcomes, in-house teams share directly in the success.
In-house positions also come with advantages like superior work-life balance and career stability. We are increasingly finding accomplished lawyers willing to take an initial compensation cut for these benefits after years working at top firms. However for most, compensation is now comparable if not higher in-house.
With pay and upside surpassing most law firm partner tracks, talented lawyers are still flocking in-house earlier. JLegal connects them to Australia’s most exciting high-growth companies where compensation can scale exponentially alongside enterprise value. We expect salaries for top in-house talent to continue rising sharply as the war for talent rages on.
Clear Career Trajectory from Legal Counsel to the C-Suite
Lawyers that transition in-house early in their career can chart a long-term progression all the way to an executive leadership role like General Counsel, Chief Legal Officer, or Chief Compliance Officer. These GC and CLO positions put lawyers directly onto the C-Suite career track.
Typically, standout lawyers progress linearly from a legal counsel role into senior legal counsel, then into an executive position leading the broader legal function. However, we have placed candidates into GC/CLO roles even with only 5-8 years of experience if the rest of the resume is stellar enough.
As part of the senior leadership team, these executive legal roles provide immense career growth potential. Lawyers manage expanded team headcounts, increased budgets and legal technology investments. They also develop well-rounded business acumen working cross-functionally with heads of HR, Finance, Sales and other departments.
This business perspective combined with honed legal expertise prepares them to potentially ascend further as COOs, CFOs, CEOs or even to public company directorships. It’s clear why so many talented counsels are eager to get on the in-house track early.
For employers, offering defined career progression paths has become essential to attracting and retaining superstar legal talent. Top lawyers want to know how they can advance from legal counsel all the way to GC roles and beyond over the next 5-10 years.
We partner with companies to map out these growth trajectories for candidates as part of recruitment pitches, aligning standout talent to enterprises where they can continue ascending to the top over the long-term.
Connecting Top Talent with Growing Companies
With demand for in-house lawyers continuing across industries, we leverage our specialised networks and research findings to connect top legal talent to the country’s most exciting companies.
Having placed tens of hundreds of legal candidates in the past 5 years, we have cultivated relationships with Australia’s top law firms to access high-calibre lawyers exploring new opportunities. Concurrently, we work closely with the fastest-growing startups, high-potential scaleups, and large enterprises across sectors that urgently need to build out their legal teams.
However, it’s not just stimulating startups hiring through JLegal, large organisations are also bolstering legal teams to mitigate risk, ensure compliance and support expansion into new markets. High growth companies flush with VC funding are particularly aggressive in their hiring efforts as they scale rapidly.
With the hiring market tighter than ever, specialist recruiters like JLegal are indispensable partners for companies competing to attract top legal talent. Leveraging our expertise and networks makes hiring and retaining all-star counsels significantly easier amidst fierce competition. If your legal team has gaps that need addressing urgently, please get in touch.
Conclusion
The Australian in-house legal job market is thriving. Companies across sectors still need to expand their legal capabilities, leading open roles to double if not close to triple over the last year.
For talented lawyers, these abundant job opportunities coincide with the rise of in-house salaries to match those of top-tier law firms. The ability to progress from legal counsel roles up to coveted executive positions like GC and CLO also accelerates the transition in-house earlier for standout counsels.
We expect hiring demand as well as compensation packages to continue amidst fierce competition for the elite talent. For both legal employers and lawyers, the confluence of factors make this an era of opportunity.
If your legal team has gaps to fill or you feel unchallenged and undercompensated in your current role, connect with one of JLegal’s expert recruiters today.
Our unprecedented access to Australia’s hottest companies and top legal talent makes us perfectly positioned to advance your career or accelerate your company’s success through strategic hiring. To find out what opportunities are available, contact us now.
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Australia’s in-house legal hiring is still in full swing!💼 Lawyer salaries continue to rise, together with unparalleled career growth trajectories, abundant open roles across sectors. Learn how you can capitalise on this era of opportunity.