Originally Posted by Unregistered

What we can confirm so far is:
(I) A&G, WongP, R&T, Rodyk have all cut their employees' salaries or bonuses (i.e. front loaded salaries). It is logical to assume that most other mid or small firms have followed, or would follow suit.
(II) Drew & Napier has not cut the salaries or bonuses of their employees.
(III) The disparity in remuneration between local and international firms is getting more and more significant. Some of the top international firms (e.g. magic circle firms) pay a 5-digit starting salary. Local firms are comparatively paying peanuts now.
(IV) With the economic downturn, and possibly economic crisis within the next 3-4 years, the situation will only become worse. Lawyers should prepare themselves for a career BEYOND their domestic Singapore capabilities, because the Singapore market alone is not big enough. Regional/international legal work will be important.