Job market information
The legal profession in Australia is well established and highly regarded. It is a dynamic profession that has been growing at a rapid rate. The number of practicing lawyers has been increasing in the past 5 years, to around 55,000 professionals.
The current economic downturn has had some impact on the legal profession locally and globally, although perhaps not so much as other industries. Different economic climates create demand for different practise areas. For example Mergers and Acquisitions are in heavy demand during a period of rapid economic growth, and conversly, litigation is in demand during an economic downturn.
Lawyers Weekly and the Law Institute of Victoria often publish articles and papers on the legal employment and working environment.
The Legal Services Board 2008 Annual Report provides detailed information on the legal profession and practitioner statistics in Victoria.
The legal job market is a competitive environment particularly for graduates seeking Traineeships. Lawyers are expected to work hard and long hours averaging 45-50 hours per week. On the flip side of that, salaries generally reflect the hard work.
Various organisations produce reports for the legal profession which include information on market trends and salary surveys.
PLC Which Lawyer? and Legal 500 both give market overviews for Australia.