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Old 10-09-2021, 04:05 PM
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That is not true at all.
Law school and practice is different things.
You can be **** at academics, get a 2.2 overall, but e.g Davinder Singh , u can be a brilliant star litigator.

A small law firm cannot compete with the internationals in the scale and value of the work, nor the pay. It’s simple market economics.

OMG like some firms don’t use the traineeships scheme to make the government pay for their practice trainees? Did you see the ads?

The pay jumps are bad because it is artificial and imposed. If there is no lockstep after the early years and the pay start out high, local firms will not be as cheap in their ways and focus more on BD. mid level Lawyers won’t worry that much about getting replaced by cheaper lawyers a few PQE below them.

Quote:
Originally Posted by Unregistered View Post
Short answer:

In law: perceived effort > perceived reward

In other industries: perceived effort < perceived reward.

As you correctly identified however, what ppl often neglect to mention is that for these industries, e.g. IB, big tech, it is free market competition but only the very best get to reap good rewards. Those who've "made it" will of course proclaim loudly about the virtues of their industry. The vast majority are silently slogging away in less than optimal career outcomes.

I would say law is much more egalitarian due to restricted competition. Law school is already one great filter. The chances of attaining a reasonably good career outcome once you're a law student, is higher than in a more wide-open field like business or CS.
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