Junior Lawyer
Bills 6 minutes at a time. Generates $810K of revenue. Takes home $100K. The Big Six graduate.
Suits and Boston Legal made being a junior lawyer look like courtroom speeches and witty cross-examination. In Australia, solicitors do not appear in court. Barristers do that. The reality for a first year lawyer at a big firm is closer to drafting the clause that protects a $100 million acquisition, paragraph by paragraph, with every six minutes of work logged in a billing system. Australian law firms bill in six minute units. One hour equals 10 units. A graduate billed out at $400 to $450 an hour generates between $500 and $80,000 and $810,000 of revenue a year for the firm. They take home about $100,000 of that. One of the strongest starting salaries of any graduate role in the country.
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