Australia’s financial hub, depth and breadth of opportunities & a world class lifestyle
Sydney has the great fortune of being an iconic destination for lawyers all over the world. Compared with larger financial hubs including London, New York and Tokyo, the lifestyle offered by firms in Sydney is considered exceptional. Against other Australian cities Sydney is busier, faster, more competitive [if more expensive] to live in. For those seeking to be in the heart of Australia’s financing and M&A activity, Sydney is the place to be.
Sydney’s role in capital markets has been well-recognised by international firms entering the market here. Both US and UK international firms see Sydney and more recently Perth as critical locations for their Australia-Pacific Rim offices. The recent installation of Allen & Overy and Clifford Chance to the Sydney market illustrate this trend – both have a proven interest in the M&A and Finance spaces. Similarly, Squire Sanders, Clyde & Co and Kennedys Lawyers are also soon to set up shop, the latter two being the international leaders in Insurance law.
International corporations are proving to have an increasingly prominent place in the Sydney legal landscape. The last ten years has seen an amplified presence from the pharmaceutical, technology and financial industries. As a hub for inbound investment from Europe, US and Asia, Sydney also boasts an increasing number of local and international private equity, superannuation and property investment funds fuelling a steady requirement for lawyers in those sectors.
Salary levels in Sydney are higher by 10%-30% than other capital cities in Australia. Bonuses here are often higher too due to greater workflow, sending earnings well above other city levels in busy sectors of the market.
Recently recruitment activity, although steady, has dropped from 2010-2011 and has become patchy. A drop off in M&A transactions combined with persistent caution in project investment and construction (resulting from the Eurozone uncertainty) has translated to fewer opportunities. However, with the number of quality firms in Sydney, there are always strong options for talented lawyers.
If making such a move is on the cards for you, get in touch with one of our Senior Consultants on +61 2 9266 2900 as soon as possible for a confidential discussion about the legal market.
Please also see our Sydney City Guide for more information on the cost of living, lifestyle and more.