What percent of lawyers make over $500,000?

What percent of lawyers make over $500,000 a year in Australia is very small, about 1% to 3% of all lawyers, because $500K+ is top end for partners and specialist barristers. In Australia, there are about 90,000 solicitors and 8,000 barristers. Average salary for solicitor is $95,000 to $120,000, for junior $65K to $85K, mid-level $100K to $150K, senior associate $150K to $220K. Only equity partners in mid-tier and top-tier firms, senior counsel barristers and successful personal injury or corporate lawyers reach $500K+. According to AFR and Hays salary surveys, about 10% of lawyers make over $250K, about 5% make over $350K, and about 1% to 2% make over $500K. For equity partners in top-tier firms like Allens, Ashurst, King & Wood Mallesons, Herbert Smith Freehills, average equity partner profit is $1M to $2M per year, but there are only about 1,000 such partners nationally, so about 1% of lawyers. For barristers, senior counsel in Sydney and Melbourne can earn $500K to $2M+, but there are only about 1,000 senior counsel, so again small percent. Most lawyers in suburban practice, government, Legal Aid and community legal centres earn $70K to $130K. So $500K is elite level, about 1 to 3 percent, requiring 15+ years, partnership or successful practice.