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The events of 2020 and the COVID-19 pandemic caused unprecedented disruption for businesses all around the globe. Creating an urgent and immediate focus on business continuity and crisis management. But what impact has the crisis had on Corporate & Commercial in-house lawyer salaries and the sector as a whole?
What has been witnessed during the COVID-19 pandemic is that the legal function, and in particular that of the General Counsel, just as it did in the Global Financial Crisis, were on the front-line as businesses in all industries across the globe revisited their balance sheets and operating models, navigated the transition to remote working and turned its attention to building a business for a post-pandemic new working world. One of the key differences however is that this time around the General Counsel function was better positioned to provide strategic legal and risk advice, as GCs claimed a more strategic future at the heart of the business. This positioning enabled the legal function to deliver the best possible service as the world faced its next major challenge, COVID-19.
The impacts of COVID-19 on the various corporate and commercial sectors across Australia has been varied, and whilst the agility and resilience of Australian businesses should be commended, uncertainty for a number of sectors looms.
Unfortunately, not all sectors have recovered from the crisis yet, and 2021 remains especially bleak for sectors such as Travel & Tourism which is heavily reliant on the opening and possible closing of both international and domestic boarders. Overall, however, there is a level of optimism across country with some sectors returning to pre covid levels.
Taylor Root is pleased to announce the release of our 2021 Australian Corporate & Commercial Inhouse Legal Salary Guide & Market Report, which outlines remuneration data for legal departments and individual lawyers.
Industry sectors covered in the report include Healthcare, Medical & Pharmaceuticals; IT & Telecommunications; Retail & FMCG; Media & Entertainment; Construction, Infrastructure & Property; Manufacturing & Industrial; Energy & Resources; Shipping, Logistics & Transportation.
We invite you to download the full report, complete with breakdowns of salaries for Corporate & Commercial in-house lawyers across sectors and years of experience, by clicking on the link below, or for an in-depth discussion on any of the material in the report please contact one of our dedicated in-house consultants today.
