Quote:
Originally Posted by Laui
Agreed. Nowadays it’s a lot tougher to make partner at a local Big4 firm. Decades of partners being promoted after staying 7 years as associates has resulted in a very top heavy structure. Given the small size of economy and the corresponding amount of Singapore law-related work, there’s only so much business to be won / made - which restricts the growth of law firms as partnerships. As OP has mentioned, even solid candidates get promoted to “Of Counsel” rather than partner, which is more or less a glorified senior associate.
This, along with low pay, has led to a lot more people jumping ship earlier on to international firms for the money / prestige, or inhouse / smaller firms for the better work-life balance. Not many people from this generation have dreams or ambitions of making partner anyway so might as well make the time in practice worth it for the time spent.
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Thanks all for your responses! I was the original poster who asked the qn.
Of Counsel is only an A&G thing? Based on what I know from some seniors/contacts. I don't think other Big 4 firms employ the Of Counsel rank as an in-between SA and JP, but I suppose this trend may catch on.
As a senior associate, I would probably leave the firm if I don't get made JP within a reasonable time and go to a smaller firm that is willing to. While some may say that the title is meaningless, I think that its still quite important morale-wise, especially if your peers of the same batch are being made up and you wonder why you aren't.