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Salary expectations and realities ahead of FY24–25
In this special episode of The Lawyers Weekly Show, produced in partnership with Naiman Clarke, we explore the shifting market dynamics that can and will impact how big, or small, lawyers’ salary rises might be in the new financial year and how to adjust expectations accordingly.
Host Jerome Doraisamy welcomes back Naiman Clarke managing director Elvira Naiman to reflect on how the market has changed since the start of this financial year, the disconnect between employers and employees regarding expectations for remuneration, the power shift being witnessed back in favour of employers, and the increasing difficulty in finding equitable and reasonable solutions for pay packets.
Naiman also delves into the extent to which employees and candidates need to temper their expectations ahead of FY2024–25, the questions one should ask ahead of a salary review, how employers can better manage expectations by facilitating honest conversations, and why the revised stage-three tax cuts might influence the amount one gets in a pay rise.
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