As someone in my mid-30s just earning 7k/month (not high but enough to live quite comfortably), I find it hard to wrap my head around these numbers. 240k SGD/annum for a lawyer is low? So the median for a typical lawyer in mid 30s would be maybe 400k/annum?
No wonder condo prices are all soaring...
Quote:
Originally Posted by Unregistered
yo
Can't speak as to bankers, but am a lawyer so can comment. Shall only talk about private practice because inhouse is just like being a salaried employee liao.
The average local law grad gets called to the bar as a 26 y/o for men, 24 y/o for girls. So by 35 they're 9-11 PQE. At that point, a small - mid sized firm lawyer would be an equity partner. Your comp can range from 20k - 40k monthly depending on how many files you bring in / your compensation agreement.
If you're in a big firm or managed to make it to an international firm, you would be drawing 20k/month by 5-7 PQE. At 9-11 PQE, you might be a junior partner with some level of equity (if you stay in a big 4 firm) which would place your comp somewhere around 30-50k, or a senior associate / junior partner in an international firm which would you put you around 500-700k annually.
The point is, 240k SGD for a lawyer at 35 is really low. This would be an average lawyer though i.e. at least 2nd upper. I dont account for the morons who fail to get even that.
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