Quote:
Originally Posted by Unregistered
Cravath scale salary in non-USD currency is not as transparent as that. LW could pay on either a floating rate (i.e. your salary is based on whatever the exchange rate says it is at the time) or on a spot rate (i.e. your salary is based on what the exchange rate was at a specific point of time in the past). This can lead to massive variations in salaries for firms paying "Cravath scale". For example, in the UK, this can range anywhere between 120k - 148k.
|
US firms hedge their local currency exposure. We generally enjoy the upsized of fluctuations whilst enjoying protection against dollar depreciation. The downside is that Cravath is net of
CPF, including employer contributions, which means that $13k per annum disappears into the void of the useless
CPF SA and MA. Otherwise, Cravath is absolutely awesome at SG tax rates. I’d say we do better than our NY colleagues due to the tax differential.
The Fx variation is not significant. It’s but a red herring in the grand scheme of things.