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  #12391 (permalink)  
Old 24-06-2021, 10:42 AM
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In that case I stand corrected - it used to be that 10% was lower (so the overall DL and FCH students overlapped entirely) but with the new S/U system (which was previously not open to law students), it might be possible that A- is actually a lower cutoff than 10% - so you would see students with FCH but not on the overall DL (which is a strict 10% cutoff).
It's the same thing. The top 10% is ALWAYS the FCH, not the 4.5 CAP. I'm a 2019 grad and for at least 2 batches before me and the most recent batch, there were people with a 4.35 to 4.40 CAP getting FCH. I got it myself with a 4.41.

You forget how easy it is to lose your FCH. That's why sometimes deans listers don't get it. One C+ or B- can completely screw up your CAP.

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  #12392 (permalink)  
Old 24-06-2021, 10:50 AM
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Yes, but for the 2019 batch S/U was not an option. Once it became an option, everyone's grades went up so the OP was saying that it's actually easier to get a 4.5 now than it is to be in the top 10% (since you can S/U some of your worst grades).

That leads to a greater number of FCH overall, since you could have 250 students and, for example, 27 FCH (instead of 25, which is 10% and what usually happened).

Also if you are a 4.41 and graduated in 2019 I'm pretty sure I know who you are...Mr. Tax boy.

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  #12393 (permalink)  
Old 24-06-2021, 11:29 AM
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Why in the world would you want to do that??

Do you really want to switch from a cushy RM job to become an overworked underpaid and much abused junior associate?

And yes, you will start out at the bottom. There's no way you will lateral to a midlevel position without prior legal experience; it doesn't work that way.

On a related note, your PB experience will definitely get you traction in the following practice areas: private client, wealth planning / asset management, trust and estates. Especially your extensive contacts with other private bankers.

Not many law firms have practice groups in this area here, after all this isn't London and there aren't that many dukes, duchesses and billionaire Russian oligarchs here (only rich Indonesians and they are usually shady).

Your best bet would be offshore firms: eg Ogier, Walkers, Harneys, Maples & Calder, Conyers.
How much do these offshore firms start the laterals with 2-3 PQE at?
What are the salaries for associates with 4-6 PQE and senior associates like?

is this based on PQE? or is there a industry standard % of billable hours? is the salary 250k if say you bill a couple of million dollars as a senior associate etc.

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  #12394 (permalink)  
Old 24-06-2021, 11:34 AM
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Yes, but for the 2019 batch S/U was not an option. Once it became an option, everyone's grades went up so the OP was saying that it's actually easier to get a 4.5 now than it is to be in the top 10% (since you can S/U some of your worst grades).

That leads to a greater number of FCH overall, since you could have 250 students and, for example, 27 FCH (instead of 25, which is 10% and what usually happened).

Also if you are a 4.41 and graduated in 2019 I'm pretty sure I know who you are...Mr. Tax boy.
Who this tax boi
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  #12395 (permalink)  
Old 24-06-2021, 12:04 PM
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It's the same thing. The top 10% is ALWAYS the FCH, not the 4.5 CAP. I'm a 2019 grad and for at least 2 batches before me and the most recent batch, there were people with a 4.35 to 4.40 CAP getting FCH. I got it myself with a 4.41.

You forget how easy it is to lose your FCH. That's why sometimes deans listers don't get it. One C+ or B- can completely screw up your CAP.
Is your 4.41 before or after S/U?
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  #12396 (permalink)  
Old 24-06-2021, 12:33 PM
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How many rounds of interview for say a Goldman Sachs legal counsel role?
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  #12397 (permalink)  
Old 24-06-2021, 01:56 PM
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How many rounds of interview for say a Goldman Sachs legal counsel role?
How much do they pay?
How much PQE required to be qualified?
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  #12398 (permalink)  
Old 24-06-2021, 02:02 PM
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Is your 4.41 before or after S/U?
Not relevant to him, the s/u thing didnt kick in till 2020.
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  #12399 (permalink)  
Old 24-06-2021, 02:26 PM
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How much do they pay?
How much PQE required to be qualified?
$15k, 3pqe
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  #12400 (permalink)  
Old 24-06-2021, 02:32 PM
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Prospective trainee here. If I choose to train in family law (due to passion, interest etc) and realise that itís not my cup of tea, what are the exit options? Assuming that Iíll be exposed to contested divorce cases.
If you leave early enough, good chance that other firms will take you.

If you stay longer than a year + ... it will be difficult. Even if you do find a firm willing to take you, you should be prepared to take a pay cut (back to NQ as opposed to PQE1).

Many gen lit law firms do family work. That would be a better option if you aren't sure about family law at this time. Better exit opportunities if you do civ lit AND fam work, not just one or the other.
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