Young lawyers want to holiday, not work, in New York

Maxim ShanahanProfessional services reporter

Dec 13, 2023 – 12.35pm

Young lawyers are staying put in Australia and settling down, as local demand for legal talent retreats and the demanding lifestyle of overseas legal work becomes increasingly unattractive.

The Australian Financial Review Law Partnership Survey shows that attrition among senior associate-level lawyers has slowed considerably in 2023, as a flatter legal market takes hold.

Gilbert + Tobin lawyers Amelia Cooper, David Holmes, Kasia Dziadosz-Findlay, Matthew Coe and Alanie Joseph. Dominic Lorrimer

Law firms increased their ranks of senior associates, who typically have five to 10 years’ experience, by an average of 3.9 per cent in 2023, down from an 8.1 per cent increase a year ago.

Colin Biggers & Paisley managing partner Nick Crennan said that “a cautious environment has translated into a more measured approach to senior associate hiring”.

At Gilbert + Tobin, one of few firms to significantly increase their senior associate-equivalent ranks this year, lawyers said the option of working in London or New York, one of the main drivers of senior associate churn, was no longer prized by young Australian lawyers.

Kasia Dziadosz-Findlay, a Gilbert + Tobin disputes specialist with 10 years’ experience, said colleagues who joined the post-pandemic overseas exodus found themselves “just working all the time”, while sacrificing the greater responsibility, independence and flexibility afforded to young lawyers in Australia.

Ms Dziadosz-Findlay said lawyers were choosing to prioritise work-life balance and career sustainability over the riches on offer abroad.

“There are better opportunities here, you can work fewer hours and have an equally good career. You can just go on holiday to New York, and have a far better work-life balance.”

Hiring slows, but opportunity for standouts

Gilbert + Tobin was one of the few firms to significantly increase its senior associate ranks in the past six months, adding 17 since July.

The firm does not use the senior associate title, referring to all non-partners or graduates as “lawyers”, and automatically promotes staff as they gain experience.

Chief executive officer Sam Nickless said firms were targeting specific, in-demand practice areas for lateral hires such as banking and disputes, rather than seeking to hire across the board.

“We’re still recruiting, but it is much more selective compared to what it was before,” he said.

Overseas firms had also significantly narrowed their recruiting streams, Mr Nickless said, although top performers in in-demand areas remained attractive to large overseas firms.

That drop in demand goes both ways, said Ms Dziadosz-Findlay and fellow Gilbert + Tobin lawyer Matthew Coe.

Mr Coe, a mergers and acquisitions lawyer with five years’ experience, said that “a lot of people went to London thinking they would be in Spain every second week, but you end up not being able to go anywhere”.

“You can learn a lot from those UK or US firms, but it’s a different pace, and not necessarily better or more interesting.

“You have a far greater level of responsibility in Australia, whereas over there you’re one cog in a very, very big wheel,” he said.

Flexibility prized

While the fast-paced lifestyle (read: long hours) of London and New York firms has long been prized by young Australian lawyers looking to broaden their experience, increasingly, flexibility and a more sustainable work-life balance are sought after.

Ms Dziadosz-Findlay said the post-pandemic emphasis on flexible work “has been really beneficial for people at every level”, and reduced the risk of burnout in a profession that has struggled to retain young lawyers.

“When you’re working long hours, little things such as being able to do errands during the week or have a quick coffee break with your partner make a big difference.”

Mr Coe agrees: “It’s nice to be able to have dinner at home and spend quality time with people, rather than staying in the office until 11pm and then going home. I’d much rather work until midnight with an hour off in the middle.”