Quote:
Originally Posted by Unregistered
The pay isn't high when you count on a per hour basis, and in the current situation, the salary is already being depressed due to the overseas Singaporean law students applying for TCs back home. Some students are already without TCs as the market simply cannot take in any more. More competition is certainly not what is needed at this time.
Also, just who are these peers which are being used as a comparison, if I may ask? And in what way is it a protected industry, aside from the requirements of a bar examination which is the case in any other jurisdiction? |
The guy who posted the comment that you quoted is clearly an idiot. However, I disagree with you. The essence isn't the competition, it is the Singaporean mentality of trying to get everything at a cheaper price.
Look at the US, there is a glut of law graduates, yet top NYC law firms still start at USD$160k. Look at the UK, similar situation, but salaries have been rising. All these firms could all easily collude and cut salaries but they don't. The same cannot be said of the Sgrean firms.
Competition is good in any industry, it raises the standards of future batches of lawyers. The glut has made everyone more zealous in trying to better their CVs to stand out from the crowd. This is surely a good thing, as those that get in to the top firms (aside from connections, which is something we have to addressed) are those that are truly motivated to seek out opportunities.