Lawyer Salary

Is it true that lawyers at big 4 firms get a clothing allowance? I also heard that one firm subsidises lasik, does anyone know if that's true?

Sounds a bit too good to be true to me.

My advice to the younger generation of lawyers is to explore in-house position. Gain your experience from a law firm first (at least 3-5 years). Whilst there, target at clients who are in the niche industries. Head of Legal (based in Singapore) of companies in such niche industries (figure out which on your own) can get around SGD500K + stock options per year. They usually have a good team of lawyers working for them. I know because some of my peers are doing exacting that.

Though I'm interested in legal studies, with regards to the current oversupply and the rise of artificial intelligence, should I still read Law in uni? Will be matriculating this year..

Originally Posted by Unregistered

Though I'm interested in legal studies, with regards to the current oversupply and the rise of artificial intelligence, should I still read Law in uni? Will be matriculating this year..

Just hop off this train already

Originally Posted by Unregistered

Big 4 is not considered prestigious anymore. Predict that Singapore market will eventually become like Hong Kong - international firms are the big ones making big money, while domestic firms are second class. We are not yet there, but are slowly moving there

That's generally going to be the path our legal market will develop I think. In HK, the only top tier local independent firm is essentially Deacons. All other high value legal work is taken up by the international firms. Local firms are small or midsized boutiques or litigation outfits.

But then HK never allowed room for local firms to develop because it was a British jurisdiction for so long. SG is slightly different due to our protectionist measures.

My prediction is that in 10 years, almost all the top 10 to 15 firms here would have merged with international ones.

Originally Posted by Unregistered

That's generally going to be the path our legal market will develop I think. In HK, the only top tier local independent firm is essentially Deacons. All other high value legal work is taken up by the international firms. Local firms are small or midsized boutiques or litigation outfits.

But then HK never allowed room for local firms to develop because it was a British jurisdiction for so long. SG is slightly different due to our protectionist measures.

My prediction is that in 10 years, almost all the top 10 to 15 firms here would have merged with international ones.

Great insights!

Originally Posted by Unregistered

Though I'm interested in legal studies, with regards to the current oversupply and the rise of artificial intelligence, should I still read Law in uni? Will be matriculating this year..

You are in for a regret of a lifetime
unemployment, lack of skills, wasted money

Originally Posted by Unregistered

Though I'm interested in legal studies, with regards to the current oversupply and the rise of artificial intelligence, should I still read Law in uni? Will be matriculating this year..

If everyone shuns from law degree, the glut may be gone by the time you graduate. Take into account the attrition rate too. But the prospect of a law degree in 2020s isn't as good compared to when it's the 2000s due to tech. Legal demand may even decrease due to that.

But a law degree is versatile, u can go into academia, entrepreneurship, politics, the arts. There seems to be much emphasis on this lately

Not sure if this is the correct forum to ask. I was offered a training contract with a mid sized law firm at $1500 per month with no allowance while doing the bar exam. Some of my friends are still looking for a training contract while others who obtained training contracts are generally offered $2000 per month with $500 allowance while doing the bar exam. My question is whether $1500 per month with no allowance for bar exam is normal for a mid sized law firm.

Originally Posted by Unregistered

If everyone shuns from law degree, the glut may be gone by the time you graduate. Take into account the attrition rate too. But the prospect of a law degree in 2020s isn't as good compared to when it's the 2000s due to tech. Legal demand may even decrease due to that.

But a law degree is versatile, u can go into academia, entrepreneurship, politics, the arts. There seems to be much emphasis on this lately

A lot of people still find a law degree a good investment due to the graduate employment survey and parents' influence. I don't think the glut will go away anytime soon