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03 August 2017 at 11:12 BST

Australian law firms offer sign-on bonuses as they compete for talent

Australian law firms are starting to pay sign-on bonuses as the competition for talent heats up.

Robyn Mackenzie

Australian law firms are finding it easier to retain talent as their lawyers are no longer embarking on the 'traditional pilgrimage to London,' according to recent research. A report by recruitment consultants Taylor Root said that the UK had all but closed its doors to lawyers from overseas as it 'continues to struggle with the challenges of leaving Europe.'  The report predicted competition between local firms for talent would heat up resulting in a positive effect on salaries for lawyers practising in particular areas. The research found that  70 per cent of all of respondents said their firms had hired more lawyers in the past year. Meanwhile, sign-on bonuses were becoming routine. Corporate, construction and banking groups were the top three practice areas identified in the report as areas of anticipated growth over the next 12 months.

 
   
 
 
 

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