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Thread: Lawyer Salary
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  #15839 (permalink)  
Old 04-02-2022, 10:58 AM
Posts: n/a

Originally Posted by Unregistered View Post
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
I donít know what you were doing in 2008 global financial crisis. Still in primary school??
But A LOT of lawyers were retrenched at the peak of the financial crisis. MANY left to be school teachers, and other recession proof industries, your taxi drivers, etc.
Those who were lucky managed to return to the profession. Those not fortunate enough were not able to return. The mindset of posters here, young and immature are also what fueled the GFC in 2008. Reckless, pretentious confidence that everything was going well.

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