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Old 04-02-2022, 10:48 AM
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Originally Posted by Unregistered View Post
The problem with high salary, shortage of lawyers, excessive demand etc is eventually that there will an economic slowdown.
High salaries, low supply and excessive demand usually comes before a major economic crisis. If you trace back history, those that still continue to have their jobs in a crisis are those that earn a sustainable amount of money ($5k).
Yes, a $20k salary in a big name international is nice to have, but in a crisis youíll be first to go.
So with eyes wide open, itís hard to understand why people are complaining if they are retrenched eventually after a period of drawing $20-30k a month and forced to drive grab.
This is so idiotic I don't even know where to begin.

In an economic crisis, the lack of demand will impact all sectors of law from the highest tier down to the Chinatown lawyer lowest down in the value chain. Except perhaps for countercyclical practices like restructuring but that's another argument entirely.

You're saying I should forego a chance to get higher comp now, to make myself recession proof? Lunacy.

You can also apply ur logic to tell people to aspire to be phv drivers over SIA pilots, because pilots earn unsustainble amounts and will be out of a job in a pandemic compared to a Grab driver.

The obvious solution is not to over-extend or over-leverage yourself with debt regardless of whether you're earning $6k pm in a shi*ty mid tier firm or $26k pm in an int'l firm. If you can't moderate your lifestyle, that is a character flaw. It's also bold to assume that people will spend recklessly once they earn high salaries and not save/invest prudently. Not everybody acts like Jordan Belfort on Wolf of Wall St in the movies blowing money on hook ers and crack


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