Australia is closing in on its first $10 million law firm partner, and the betting is that it will come from either Corrs Chambers Westgarth or Gilbert + Tobin.
Pay has surged since the Covid pandemic, with the benchmark for elite talent jumping from $3 million to about $7 million.
Prima Facie’s informants suggest there could be 10 partners at Australia’s top commercial firms earning that much or more.
“Five years ago it would have been $3 million [for the elite],” said one. “Two years ago it was $5 million. Now it’s $7 million.”
