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  #15848 (permalink)  
Old 04-02-2022, 02:46 PM
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Originally Posted by Unregistered View Post
The flaw in your argument is that you're assuming there's (1) international firm work, and (2) everybody else does personal law stuff like divorce, conveyancing, small claims liti, POHA, crim etc.

(2) is untrue. The majority of lawyers not doing small-time personal law, are working in midsize firms (or even local Big 4) doing the same work as (1), except that their clients are not Goldman Sachs or BlackRock but local corporates, OCBC or DBS. Let's call this category of mid-tier corp lawyers category (3).

It is lawyers in this category of (3) who are drawing your so-called idea of "sustainable salary" i.e. grinding 90+ hour weeks for $9.5-10k per month as 4PQE.

A major economic downturn will affect (3) as much as (1). All the run-on effects which you claim of corporate lawyers being shut out from "man-in-the-street" work in a crisis, will equally apply to category (3).

Given the above, why the heck would I not chose (1) over a "sustainable salary" in (3).

It seems what you're really saying is that we should all quit servicing corporate clients and do work only for HDB auntie and uncles.
When Michael Burry, Steve Eisman and Gregg Lippmann said there was going to be a housing bubble way back before the 2008 GFC, everyone thought it was absurd or incredulous.
Exactly how you folks are dissing the OP.
Nuff said on this. Junior lawyers think that everything they key in in their time sheets can be billed, but they are not aware at the partnership level how much of these time costs get written off before the final bill goes to client.
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