Quote:
Originally Posted by Unregistered
So baker has not raised their associate's starting pay? Why are our salaries half that of Hong Kong when we do almost the same kind of work. Comparing corporate work at least.
I've heard starting pay in large firms still at 5-6k. And more towards 6k.
Is the trainee pay in CC or Baker better?
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FWIW, local HK firms don't actually pay that well. When you're talking about HK's salary being higher, you're actually looking at international firms. Think of it as local vs foreign bank pay.
HK's legal market is more liberalized (fewer restrictions on international firms, JLV not required to practise HK law); as a result, there are more international firms in HK, and they compete with local firms directly for talent from the trainee level. When US firms like Davis Polk or Skadden pay that well (and sometimes deliberately so because they're new to HK or want to poach people), it puts pressure on the rest to pay decently too.
No clue about CC vs Baker, but anecdotally my impression is that Latham & Watkins Sg has the highest trainee pay, although they're only allowed to take UK trainees. If memory serves me right, it's around 7-8k.