Lawyer Salary - Page 1224 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Lawyer Salary

Reply
 
Thread Tools
  #12231 (permalink)  
Old 12-06-2021, 01:36 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Another idiot who doesn't know what AI and all these other new technologies can and cannot do... If I see another article from some gungho B4 associate writing about the "range of exciting legal use cases for Blockchain" who thinks he's cutting edge I'm actually gonna puke
LOL I think I've seen at least 7 of those articles just this year alone

Reply With Quote
  #12232 (permalink)  
Old 12-06-2021, 02:18 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
LOL I think I've seen at least 7 of those articles just this year alone
At least those dudes can write right.
Why so salty? Try to spend your free time writing otherwise keep quiet

Reply With Quote
  #12233 (permalink)  
Old 12-06-2021, 02:40 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I suspect the future of law would be like that.

The very top (fch, deans list, commendation list) will always have a job. Whether in house, practice or govt.

The middle will hollow out.

Those with applied learning (eg TP dip law paralegals) will eventually be highly employable. They will do a lot of the work that require support.

Some posters said earlier that you need legal training to dispense legal advice. True. But what if the AI bot can do it far better and with less mistakes. The partner just need the paralegal to check once over and sign off.

So I donít know in this new business model, is there a future for being mediocre?

Your proposition is highly flawed for several reasons, which makes me doubt whether you are in practice.

1. "what if the AI bot can do it far better and with less mistakes" is a sweeping statement. If you do research and look at what those legal AI platforms can currently do at the moment, we are still at a stage where human input is highly needed and there is still a long time to come such a regime comes to place.

2. Every file/matter is different. If you are a lawyer, you will realise a good one will never simply use the cookie cutter or a copy and paste method or the while. Yes, precedents may be generated, but if you let AI do the work and back off from the matter, I wish you all the very best.

Don't simply make assumptions just because you keep reading articles on "how AI is disrupting the world." Do your own research.

Reply With Quote
  #12234 (permalink)  
Old 12-06-2021, 03:26 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Your proposition is highly flawed for several reasons, which makes me doubt whether you are in practice.

1. "what if the AI bot can do it far better and with less mistakes" is a sweeping statement. If you do research and look at what those legal AI platforms can currently do at the moment, we are still at a stage where human input is highly needed and there is still a long time to come such a regime comes to place.

2. Every file/matter is different. If you are a lawyer, you will realise a good one will never simply use the cookie cutter or a copy and paste method or the while. Yes, precedents may be generated, but if you let AI do the work and back off from the matter, I wish you all the very best.

Don't simply make assumptions just because you keep reading articles on "how AI is disrupting the world." Do your own research.
Alright I am at the forefront of law and technology, and when we talk AI platforms we are not talking about those adopted by the big 4 currently but by the white shoe and magic circle.
Iím not the original OP. But let me tell you if you have not been in the legal teams of American banks like JPM and GS, you are way behind your timeÖ

A lot of the works are done in house today. Less work are being farm to the law firms, except for LOs. And LOs in the law firm can actually be done by a bot, things like contract express etc. yes programming needs to be done once, and that the partner can do and fine tune with a paralegal. Why Iím wasting time to explain this instead of writing my journals is simply because Iím trying to pay it forward. Iíve been shown quite a lot of kindness by my giants in the field.
Reply With Quote
  #12235 (permalink)  
Old 12-06-2021, 05:26 PM
Unregistered
Guest
 
Posts: n/a
Default

PI and PD work are far from noble, but hey, everybody needs to put food on the table. Personally, I respect community lawyers way more than PI or PD lawyers.
Reply With Quote
  #12236 (permalink)  
Old 12-06-2021, 07:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Alright I am at the forefront of law and technology, and when we talk AI platforms we are not talking about those adopted by the big 4 currently but by the white shoe and magic circle.
Iím not the original OP. But let me tell you if you have not been in the legal teams of American banks like JPM and GS, you are way behind your timeÖ

A lot of the works are done in house today. Less work are being farm to the law firms, except for LOs. And LOs in the law firm can actually be done by a bot, things like contract express etc. yes programming needs to be done once, and that the partner can do and fine tune with a paralegal. Why Iím wasting time to explain this instead of writing my journals is simply because Iím trying to pay it forward. Iíve been shown quite a lot of kindness by my giants in the field.
I'm pretty sure you've not been in the banking industry as an in-house lawyer. While it is true that alot of contract/corporate work is done in-house, it is usually in tandem with (or the draft version is farmed out to ) Corporate lawyers to double-check. Firstly, the legal fees pale in comparison to the costs of any issues with the document. Secondly, almost every in-house would rather have someone else's ass on the line (i.e. the external firm) instead of approving large-scale contracts/corporate documents without an external lawyer.

So yes, while the contract draft may be inhouse/AI, the work that actually gets passed to the law firm isn't really paralegal-side work (which would more likely die from AI than PQE-ed lawyers).
Reply With Quote

  #12237 (permalink)  
Old 12-06-2021, 08:14 PM
Unregistered
Guest
 
Posts: n/a
Default

No one likes to know that they would eventually be replaced. But this will be the reality. Even though knowledge workers like lawyers would not be made entirely redundant, we would only need a small number of them (and you would have to be the top + have relevant knowledge to co-exist with the machines and systems of the future). Obviously, this is not specific to law. Even finance (like S&T) will see a similar change in the next decade.

Safest jobs? Those that really require the human aspect. Think of creative roles like fashion designers and award winning chefs (AIs cannot be creative in their own accord as of yet).
Reply With Quote
  #12238 (permalink)  
Old 12-06-2021, 08:20 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
No one likes to know that they would eventually be replaced. But this will be the reality. Even though knowledge workers like lawyers would not be made entirely redundant, we would only need a small number of them (and you would have to be the top + have relevant knowledge to co-exist with the machines and systems of the future). Obviously, this is not specific to law. Even finance (like S&T) will see a similar change in the next decade.

Safest jobs? Those that really require the human aspect. Think of creative roles like fashion designers and award winning chefs (AIs cannot be creative in their own accord as of yet).
Let me add on, think financial advisers. The human touch is needed in this aspect.
Reply With Quote
  #12239 (permalink)  
Old 12-06-2021, 08:22 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Let me add on, think financial advisers. The human touch is needed in this aspect.
Ok, I will tell my kids to do either creative arts or become an Insurance Agent then.
Reply With Quote
  #12240 (permalink)  
Old 12-06-2021, 09:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I'm pretty sure you've not been in the banking industry as an in-house lawyer. While it is true that alot of contract/corporate work is done in-house, it is usually in tandem with (or the draft version is farmed out to ) Corporate lawyers to double-check. Firstly, the legal fees pale in comparison to the costs of any issues with the document. Secondly, almost every in-house would rather have someone else's ass on the line (i.e. the external firm) instead of approving large-scale contracts/corporate documents without an external lawyer.

So yes, while the contract draft may be inhouse/AI, the work that actually gets passed to the law firm isn't really paralegal-side work (which would more likely die from AI than PQE-ed lawyers).
Another annoying post. Obviously I know that. Hence I said LO. Legal opinions for avoidance of doubt. Why do issuer, lender, etc want the firmís LO? Liability.
Everyone knows that.
But if larger firms invests in AI, and can cut down on the no of lawyers required, they can still produce the same LOs at much lower costs. Most of the work would be done in house anyway. They just need someone to sign off on those deals.
Reply With Quote
Reply

Bookmarks

Tags
advocate, law, lawyer, legal, solicitor

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
From Lawyer Insider: Life is Glamorous but Unsatisfying Salary.sg Income and Jobs 31 15-01-2018 12:40 PM

» 30 Recent Threads
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,750 Replies, 3,965,058 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
10,516 Replies, 3,811,472 Views
Compare civil service salary ( 1 2 3... Last Page)
15,521 Replies, 11,043,539 Views
ITE (lecturer) ( 1 2 3... Last Page)
264 Replies, 324,302 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,802 Replies, 1,098,495 Views
Career as Teacher ( 1 2 3... Last Page)
8,520 Replies, 5,186,677 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,502 Replies, 792,258 Views
ST Electronics ( 1 2 3... Last Page)
3,343 Replies, 1,192,583 Views
How much CPF do u have? ( 1 2 3... Last Page)
78 Replies, 53,243 Views
Band 4 and Band 5 in Standard... ( 1 2 3... Last Page)
56 Replies, 128,732 Views
Lawyer Salary ( 1 2 3... Last Page)
19,503 Replies, 8,723,573 Views
How much are you earning per annum? ( 1 2 3... Last Page)
14,067 Replies, 6,016,765 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,328 Replies, 3,940,270 Views
Civil/Public Sector -... ( 1 2 3... Last Page)
422 Replies, 347,473 Views
IMDA (under MCI) ( 1 2 3... Last Page)
601 Replies, 312,702 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
431 Replies, 210,001 Views
Tech bros...how is your market... ( 1 2 3... Last Page)
52 Replies, 8,948 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,486 Replies, 3,126,718 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,187 Replies, 897,587 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,194 Replies, 946,784 Views
Roles in accenture singapore ( 1 2 3... Last Page)
6,416 Replies, 1,750,949 Views
Career as SIA Overseas Scholar
5 Replies, 722 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
275 Replies, 128,966 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
1,234 Replies, 580,718 Views
GovTech ( 1 2 3... Last Page)
3,835 Replies, 1,446,938 Views
What are BAND 5 positions -...
8 Replies, 1,052 Views
MOM(ACE) offers good career... ( 1 2 3... Last Page)
100 Replies, 49,176 Views
Work culture in IHiS ( 1 2 3... Last Page)
464 Replies, 363,260 Views
How is life as a doctor in... ( 1 2 3... Last Page)
5,533 Replies, 2,663,270 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
248 Replies, 278,945 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:10 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2