Wage slaves are on the rise even among the ranks of the prestigious partnerships of Australia's top law firms, as growing numbers of partners are appointed on salaried or merit-based profit-share arrangements.
The latest The Australian Financial Review Law Partnership Survey reveals that two-thirds of the country's biggest legal partnerships have at least 30 per cent of their partners on salaried arrangements, entrenching a five-year shift away from the pure equity model.
Michael Pelly is the legal editor, based in our Sydney newsroom. He has been a senior adviser to federal and state attorneys-general and written two books, one a biography of former High Court Chief Justice Murray Gleeson. Email Michael at michael.pelly@afr.com
