Senior Counsel Gregory Vijayendran, who was a member of the committee, told The Straits Times the pandemic has, among other things, impacted law firm revenue and livelihood.
“The profession needs a little more time to get accustomed to these changes from a cost, time and process re-engineering perspective,” said the Rajah & Tann partner.
He noted that, for example, by practically doubling the practice training period, this means doubling the allowance paid to the trainees. This works out to sizeable sums for larger firms that take in more trainees.
He added that law firms need to thrive in their economic recovery efforts.
s://.straitstimes.com/singapore/politics/changes-for-stricter-bar-exam-and-longer-training-for-singapore-law-grads-pushed-to-2024
What does he mean? Instead of paying trainees a paltry peanut sum of 2K for 6 months and then 6 months of NQ salary, they get to pay the peanut trainee pay for 12 months under the new scheme. The firms SAVE MORE money under the new scheme.
Only way a firm spends more money is if they give out
TCs without an intention to retain everyone at the end of the TC? Does R&T do that?