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Old 10-09-2021, 08:56 PM
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Originally Posted by Unregistered View Post
I don’t know why people like to use how much partners make against the point made about pay being too low at the junior level.
Ok the profession tops out at 6 figures for the China town firms you mentioned, and some unprofitable and cheap tech local firm is paying 2k for their young hires. Are they even comparable? You are comparing the bottom of another industry with partnership level, that is apples to oranges.
Umm...the point I was making is that even less than cream-of-crop lawyers will eventually get fairly good optimal outcomes if they stick it out long enough?

The same can't be said for many other industries who will be stuck in low pay and dead-end roles if they start at lousy small SME companies, and literally only way out of the rut is to start your own business (with no guarantee of success).

OK if you wanna compare apples to apples, then let's compare:

The top lawyers working in international law firms earning US$210K per annum Cravath salaries, are to be compared against IB, Private Equity, and FAANG people. These are the top fresh grads/juniors in their respective fields.

The mediocre lawyers who didn't study that hard/pad their CVs that much and go into local Big 4 firms, are to be compared against business grads going into your typical DBS, OCBC, UOB management associate track, or some non-FAANG tech firm.

The bottom level lawyers, who didn't study at all and graduated with Second Lower/2:2 and go into Chinatown firms, are to be compared against business grads going into SMEs, small local companies, or small tech sweatshops.

Not sure what is so difficult to comprehend?

Also don't understand why you keep whining on and on about small Chinatown firms. Sure, their junior assocs are paid depressingly low compared to an average Big 4 grad. But that's how the market is. In fact, juxtaposed against other (non-law) industries, even a Chinatown salary isn't even that low.

In every industry, there are the brightest grads who go on to take the most coveted roles. The least desired spots are filled with the least competitive grads. If they really wanted that sweet biglaw dollar, then they only have themselves to blame for not studying harder or making their CV more attractive by joining moot competitions or whatever.
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