The Brief:
Investment management and international banks top the in-house ladder, with GC packages reaching $450k–$500k plus significant bonus upside.
Energy is the standout in commerce and industry, punching well above its sector peers.
If you're weighing up a move in-house, the sector you pick matters as much as the firm you leave.
Pay gaps between industries are wider than most lawyers realise — and bonuses can shift the total package picture significantly. Here's the full breakdown.
The pay
Industry | Senior Legal Counsel | Head of Legal / GC |
|---|---|---|
International Banks & Investment Banks | $195k–$275k | $300k–$500k |
Investment Management | $200k–$300k | $310k–$450k |
Superfunds | $200k–$275k | $290k–$450k |
Big Banks | $180k–$235k | $260k–$450k |
Insurance | $180k–$235k | $270k–$350k |
Construction / Energy / Projects / Property | $180k–$285k | $250k–$300k+ |
Fintech & Payments | $175k–$220k | $230k–$330k |
Health / Pharma | $180k–$220k | $230k+ |
FMCG / Retail / Logistics | $150k–$220k | $220k–$320k |
Technology / Telecoms | $150k–$250k | $180k+ |
Media / Entertainment / Tourism | $130k–$180k | $175k+ |
Source: Robert Walters Australian Legal Market Overview 2025/2026
All salaries are inclusive of super.
Financial services on top
No one is surprised — financial services takes the cake.
International banks and investment banks and investment management are neck and neck for first place.
Investment management GCs land at $310k–$450k, with bonuses above 40% STI+LTI. International banks push the GC ceiling to $500k, with bonus structures hitting 35-70% STI+LTI.
Superfunds run almost parallel at Senior Legal Counsel level. The GC ceiling dips slightly, but not by much.
Big banks sit mid-pack. The GC range is wide — $260k–$450k — but bonuses are leaner. Senior Legal Counsel roles attract just 5–15% STI. The Big 4 have resumed hiring after a period of restructuring, and competition for senior talent is picking up.
The energy exception
The commerce in-house market generally comes in lower. But construction, energy, projects and property is the exception worth watching.
Senior Legal Counsel roles reach $285k, competitive with financial services. Australia's energy transition is doing the heavy lifting. Demand for lawyers with renewables experience is building nationally, and pay is following workload.
Elsewhere, the numbers soften. Health and pharma performs well at the Senior Counsel level, but the GC standard of $230k is modest. Technology and telecoms underperform relative to its reputation, with GC roles starting at $180k
One caveat worth flagging: the Robert Walters data for commerce and industry pay don't include bonus data. Factor in financial services STI and LTI of up to 70%, and the real gap between sectors is bigger than the base salary figures suggest.
Behind the numbers
The in-house market has been through a disruptive 12 months. Restructures, headcount freezes, return-to-office fights.
Regulatory pressure is keeping financial services pay elevated. FAR, CPS230 and AML reform have driven sustained demand for experienced lawyers, and that's not easing. AUSTRAC's Tranche 2 AML/CTF reforms could bring roughly 90,000 new reporting entities into scope by March 2026. Compliance-adjacent legal hiring will follow.
In commerce and industry, budget pressure has capped senior hiring across most sectors outside energy.
One friction point cuts across both markets. Four-day in-office mandates are proving a genuine barrier to attracting senior talent. GC-level candidates have options, and flexibility is still a live negotiating point.
Source: Robert Walters