Corporate - Victorian Women Lawyers

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COMPANYSECRETARIES1.22% average salaryincrease45% received a bonusRise in demandRemunerationJust under two thirds of companysecretaries received a salary reviewin the past year. The significantproportion of company secretariesnot receiving a salary reviewreflects a continued conservativeapproach towards remunerationby corporations.Almost two thirds of respondentswork for organisations offeringperformance based bonuses. Justunder half of those surveyed actuallyreceived a bonus this year. Thesefigures are slightly down on thefigures from the previous year. Themain reasons cited by companysecretaries for not receiving abonus was that the company didnot perform well enough or ongoingcaution of their employer.Recruitment ActivityThere is a noticeable improvementin the demand for companysecretarial and corporate governanceprofessionals at all levels in bothpublicly listed and non-listedorganisations. Complex regulatoryrequirements and increased marketscrutiny have made it necessary forcorporations to focus on corporategovernance and compliance issues.New regulatory regimes in theareas of anti-money laundering andcounter-terrorism as well as financingand personal property securitiesreform have increased demandfor professionals.“More in-house roles includeCo Sec responsibilities”Almost half of respondents arelegally qualified. This trend is likely tocontinue with an increasing numberof in-house legal roles, particularlyat the senior end, incorporatingcompany secretarial responsibilities.Many lawyers are responding to thisdevelopment by adding companysecretarial skills and corporategovernance knowledge to theircurrent skill set.Most company secretarial functionsare relatively lean. This year’ssurvey revealed that almost 90% ofcorporate governance professionalsworked in a company secretariatof 1–5 people. Of these, 44% areworking in solo roles compared to40% last year.“More working on acontract basis”This year more company secretariesare working on a contract basis. 12%of respondents are employed in acontract role compared to only 6%last year. Some of the reasons foremploying a company secretary ona contract basis include headcount,budget restrictions or for a particularcorporate governance project.The workload for companysecretaries remains relatively high.Significantly, more than 40% ofrespondents said that their hoursof work increased compared to lastyear and approximately 50% said thattheir hours have remained steady.Almost 80% of respondents saidthe size of their company secretariatwould stay the same next year.This will lead to busy roles forpeople within company secretariatsgiven the increased attention andrequirements in this area.“1/3 would considermoving to a role otherthan a co sec position”One third of respondents areconsidering leaving their currentemployer. This is a slight decreasefrom 40% last year. Most of thoselooking to move want anothercompany secretarial role in a largercompany. For those looking to remainwith their current employer, themajor objective is to secure a moresenior role. Interestingly, nearly onethird of respondents said they wouldconsider moving to a role other thana company secretary position. This isa slight increase on last year.The most common factorsinfluencing a company secretary tojoin another organisation are careerdevelopment, greater remunerationand the opportunity for strategicinput. A better work/life balanceand working in a good team are alsokey factors.P12 MAHLAB SURVEY 2011 } CORPORATE
COMPANY SECRETARY } SALARIESPUBLICLY LISTEDState Range ModeNSW $145,000 – $480,000 $245,000Vic $130,000 – $450,000 $245,000NOT PUBLICLY LISTEDState Range ModeNSW $120,000 – $300,000 $200,000Vic $115,000 – $290,000 $185,000Salary bands apply to individuals undertaking full company secretary roles. There may be someindividuals in major companies who are earning outside the bands revealed by the survey, howeverthey would be the exception. Please contact our consultants for tailored advice.Figures refer to total packageincluding benefits butexcluding bonuses and shareoptions.
Page 1 and 2: SURVEY 2011CORPORATE }CORPORATE LAW
Page 3: FOREWORDLaw in Australia:New Change
Page 8 and 9: CORPORATELAWYERS4.69% average salar
Page 10 and 11: ole, nature of the company, sector,
Page 12 and 13: CORPORATE SALARIES } PERTHYear Leve
Page 16 and 17: COMPANY SECRETARIES } BENEFITS OFFE
Page 18: Sydney Level 9, 6 O’Connell Stree

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