About Kennedys Law Firm
In 1899, an Australian solicitor named John Kennedy Lynch founded the original Kennedys firm in the city of Melbourne. In 1948, the firm opened a second office, this time in Sydney. Their London office opened in 1973, followed in short order by offices in New York City and New Zealand. Since those days, Kennedys has expanded significantly, adding more than 28 offices worldwide, with locations in Greece, Italy, Dubai, China, Singapore, Australia, Ireland, Canada, Sri Lanka, and continental Europe. It has also acquired some more prominent law firms, including Fenwick Elliott based in London, Malcolm Lawrence in Sydney , Morgan Cole in Wales, and Davis and Gilbert in New York.
Their distinctive role in insurance law, acting as trusted counsel to several specialized companies, has become their claim to fame. They provide specialist legal services to their clients in a wide range of areas, namely:
In addition to insurance, they offer defense and coverage to organizations in the transportation, healthcare, professional services, PII, trade credit and construction sectors, as well as services and goods. They have earned a sterling reputation for providing insightful and quality legal counsel in these and other areas.
Model of Remuneration at Kennedys Law Firm
The general salary structure at Kennedys Law Firm tends to reflect that of similarly sized firms in the industry. According to the data compiled from various sources, the range for an entry-level Associate is around $70,000 to $80,000 per year, depending on the practice area and office location within the firm. For Associates with three to five years plus experience, it is around $80,000 to $100,000 per year. Senior Associates with seven to eight years of experience usually get a significant bump, reported to be in the range of $100,000 to $140,000, depending again on the practice area and location. It is noteworthy that for those Associates and Senior Associates who are eventually promoted to partner, their compensation can vary widely, reported to be in the range of $250,000 to $700,000 per year, depending on the location and practice area. The pay for Partner/Principal/Director and Managing Partner also varies widely by location and practice area. According to the data, the average compensation for a Partner/Principal/Director at Kennedys Law Firm is around $200,000 to $300,000, while the range for the top tier Managing Partners can go as high as $800,000. In addition, the benefits offered at Kennedys Law Firm are reported to be around the industry averages, with health insurance, retirement, vacation, and the like offered to all regular full-time employees. Although it varies by location, many Associates and more experienced attorneys also report enjoying 9-5 hours, generally free of working long and late nights.
Drivers of Progression
There are several factors that can influence the salaries of employees at Kennedys law firm.
Job Title: As with any major company, employees with higher job titles such as managers, senior professionals, and executives will tend to make more than those in junior and entry-level roles.
Location: The salary of employees often varies depending on their office location. A partner in the Sydney office will likely make slightly more than a partner in Singapore, except for factors such as years of tenure and practice area.
Experience: The more years you spend at a law firm, the more you will usually make. Senior associates make two to three times as much as junior solicitors, and senior assistants and team leaders will naturally earn more than regular assistants and solicitors.
Specialization: Certain legal specializations may carry a higher salary than others. For instance, a solicitor who specializes in tax or mergers and acquisitions will typically have a higher income than a general practitioner.
Compensation and Bonuses
Apart from the salary, Kennedys Law Firm offers a range of benefits and bonuses to its staff, which are designed to improve recruitment and retention.
"As long as you perform, you’ll continue to be rewarded," one of [Kennedy’s Employee’s Name] tells us. It’s an attitude that is echoed by many of the managers at the firm, which seems to motivate their employees to perform their best.
This is, perhaps, one of the reasons the firm is viewed so highly and manages to keep its employees happy.
Bonuses at Kennedys Law Firm appear to be directly related to how much work an employee is able to bring in for the firm – sales commissions, as some would call them in more cynical terms.
Any bonuses offered at the firm are tied more to sales targets than individual performance or objectives.
The bonus structure is likely to be the same for most staff: the more work you bring in, the higher your bonus will probably be.
Kennedys Law Firm understands the importance that giving its staff a well-balanced benefits package, which can include an amount of flexi-time. This ensures that employees can take time to go to appointments or run personal errands if they need to, without having to stress about their job getting in the way.
It also has to be said that flexible working is a benefit provided by many firms these days.
With that said, it doesn’t seem to be as heavily focused on benefits like free gym membership or discounted mobile phone contracts. Instead, it appears to be more a case of ‘what you see is what you get’, with employees being paid competitively and paid overtime, rather than being able to cash in on extra benefits.
Few firms operate this way now, as it is designed to give employees the least and still get the most out of them. As one of the most established firms, it wouldn’t be surprising to find that Kennedys Law Firm is sticking with this way of operating.
Career Advancement & Salary Increase
Kennedys Law Firm places a strong emphasis on career growth and progression, ensuring employees can take charge of their professional development and progress through the ranks. Typically, those who join as trainees find they are offered a role as an Associate within 1-2 years, as long as they meet the firm’s competence benchmarks. It is not uncommon for Associates to be promoted to Senior Associate after three to four years with the firm . The growth opportunities for those who join Kennedys Law Firm as experienced professionals, such as Partners or Counsel/Special Counsel, are more dependent on individual performance and the needs of the firm. That said, those who establish themselves as key players in their field can move on to Directorship or Partnership within five years or so. The salary increases as you progress are on a par with those at other City firms, and anyone looking for a role that offers speedy career progression in a supportive, development-focused environment would be hard-pressed to do better than Kennedys.
Staff Reviews & Opinions
The reviews from employees have indicated that satisfaction with their salaries has been a common trend, despite being below the market average in most cases. For example, a 2019 employee noted that the salary was good for junior level positions, while a 2020 review from a mid-level associate expressed a similar sentiment. Although some employees have left the firm due to low pay, nearly half of the reviewers recommended working at Kennedys despite the pay. Highlighted phrases from employee reviews related to compensation, balance, and management can be seen from the following. Comments such as "same market pay as competitors" or "below market," and mentions of money as a "disappointing factor" appear frequently, and there are even multiple mentions of the equation of long work hours with salary at Kennedys. One reviewer stated that "if you want to make very good money, work at [a competitor] instead," while another said "money does not gift itself." While it is clear that the salaries are below market rate, most reviewers are overall satisfied enough to continue their employment despite this issue.
Benchmarking against Rivals
When looking at the compensation at Kennedys, it is important for associates to understand how they measure up with their competitors. The legal industry is highly competitive and Kennedys can only attract and retain the best talent by offering competitive compensation. This includes not only salaries, but also bonuses and exceptional benefits that make their Associates feel valued. Here is a closer look at how their salary packages compare with firms in their size range, and with other firms of all sizes and specialties:
It can be seen from the above table that the average salary and bonus package at Kennedys for first year Associates is competitive with other firms of similar size , and the top salary falls comfortably within the range set by other firms nationally.
The "Specialists" in the right-hand column of the salary table are firms which have a niche practice area, such as corporate, environmental or intellectual property law. The "Others" category includes all firms at all levels of seniority, from sole practitioners to mega firms like Skadden Arps and Weil Gotshal. The "All Firms" column is the overall average across all firms for each level of seniority.
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