Quote:
Originally Posted by Unregistered
Are you guys talking about the US firms’ offices in Singapore or elsewhere? I can’t tell whether you’re comparing apples with apples or apples with oranges.
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That’s because you don’t understand how white shoe partners are paid.
Partnership in white shoe US firms is based on a lockstep grading system, and fixed at standard unified net rates globally (adjusted for taxes). Earnings are pooled and distributed based on the points allocated to partners in your grade. They don’t adopt the eat-what-you-kill system. Consequently, SG white shoe partners make the same as NY white shoe partners, and location isn’t relevant at all. What matters is your partnership grade.
The brutality of this system is that if your earnings consistently fall below the average partner’s earnings within your grade, you either get downgraded or asked to leave. They may carry deadweights for a year or so, but never more.