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  #14411 (permalink)  
Old 28-10-2021, 02:39 PM
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When was the last time the $500 Part B honorarium and $2000 TC big 4 pay was changed?
TC pay is $2500 at some B4 firms! But there are B4 firms that also pay you trainee pay after your training (before youíre called to the bar) and your net pay is less because it goes towards tax and CPF LOL.. but with more responsibility.

I left my B4 firm recently for an American shop and my gross pay is $21000 (per month) now whereas in Jan 2020 I was drawing $1900 per month (after CPF).. It just shows you how B4 firms are grossly underpaying and I really hope thereís more of a push to increase associate salaries, which I feel are well-deserved? Some B4 partners will even say to your face that junior associates donít earn much and to suck it up (which is BS). It seems silly the associate pay in local firms is stagnant even after 10 years, without even accounting for inflation.. makes me quite mad which is why I left.

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  #14412 (permalink)  
Old 28-10-2021, 03:56 PM
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How much does a typical big 4 equity partner earn per annum? I know it varies but what is a usual range?
250-700k

A famous managing partner of one of the big4s doesnt even earn 1m per annum

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  #14413 (permalink)  
Old 28-10-2021, 04:37 PM
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250-700k

A famous managing partner of one of the big4s doesnt even earn 1m per annum
waw no need pay gst sia

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  #14414 (permalink)  
Old 28-10-2021, 04:38 PM
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TC pay is $2500 at some B4 firms! But there are B4 firms that also pay you trainee pay after your training (before youíre called to the bar) and your net pay is less because it goes towards tax and CPF LOL.. but with more responsibility.

I left my B4 firm recently for an American shop and my gross pay is $21000 (per month) now whereas in Jan 2020 I was drawing $1900 per month (after CPF).. It just shows you how B4 firms are grossly underpaying and I really hope thereís more of a push to increase associate salaries, which I feel are well-deserved? Some B4 partners will even say to your face that junior associates donít earn much and to suck it up (which is BS). It seems silly the associate pay in local firms is stagnant even after 10 years, without even accounting for inflation.. makes me quite mad which is why I left.
What do you do that is worth 21k per month?
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  #14415 (permalink)  
Old 28-10-2021, 05:09 PM
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What do you do that is worth 21k per month?
Finance. I run smaller deals with the partner (1-1)/draft and negotiate finance docs/lead counsel negotiation calls etc. I typically pass off admin tasks/proofreading/compiling signatures/basic CPs etc to a paralegal or trainee (I struggle with delegating because Iím a first year and at a B4 you would have to do everything but the partners have told me nicely that these tasks should be delegated because itís a waste of my time and Iím too expensive lol). I do admit, I lucked out and managed to land on the other end of the pay spectrum where Iím grossly overpaid for a junior lol. My seniors who are 4PQE (UK scale) are drawing 29K per month before bonus ha
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  #14416 (permalink)  
Old 28-10-2021, 05:28 PM
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What do you do that is worth 21k per month?
Average international firms here already paying $21k to $24.5k pm for junior assocs leh. Not even talking about top end ones like Sidley, Jones Day, Akin.

Talking about non-top tier ones like Hogan Lovells and NRF.
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  #14417 (permalink)  
Old 28-10-2021, 05:34 PM
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Average international firms here already paying $21k to $24.5k pm for junior assocs leh. Not even talking about top end ones like Sidley, Jones Day, Akin.

Talking about non-top tier ones like Hogan Lovells and NRF.
None of that answers the question
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  #14418 (permalink)  
Old 28-10-2021, 06:26 PM
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TC pay is $2500 at some B4 firms! But there are B4 firms that also pay you trainee pay after your training (before youíre called to the bar) and your net pay is less because it goes towards tax and CPF LOL.. but with more responsibility.

I left my B4 firm recently for an American shop and my gross pay is $21000 (per month) now whereas in Jan 2020 I was drawing $1900 per month (after CPF).. It just shows you how B4 firms are grossly underpaying and I really hope thereís more of a push to increase associate salaries, which I feel are well-deserved? Some B4 partners will even say to your face that junior associates donít earn much and to suck it up (which is BS). It seems silly the associate pay in local firms is stagnant even after 10 years, without even accounting for inflation.. makes me quite mad which is why I left.
How did you manage to exit so fast? Isn't exit normally at the 3 year mark?
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  #14419 (permalink)  
Old 28-10-2021, 07:14 PM
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How did you manage to exit so fast? Isn't exit normally at the 3 year mark?
I think it was a culmination of factors - I moved jurisdictions, left a good impression in my interviews, it being an associateís market atm with recruitment, US firms were keen on hiring juniors so they looked past me being 1PQE on the SG scale (though I trained for a year). I lucked out because Iím considered 1PQE on the UK scale and not a NQ. Also I just applied with a ďyou wonít know if you donít tryĒ kind of mindset even if the associate role postings requested 1PQE and above on the UK scale LOL
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  #14420 (permalink)  
Old 28-10-2021, 09:01 PM
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I think it was a culmination of factors - I moved jurisdictions, left a good impression in my interviews, it being an associateís market atm with recruitment, US firms were keen on hiring juniors so they looked past me being 1PQE on the SG scale (though I trained for a year). I lucked out because Iím considered 1PQE on the UK scale and not a NQ. Also I just applied with a ďyou wonít know if you donít tryĒ kind of mindset even if the associate role postings requested 1PQE and above on the UK scale LOL
your uni and grades?
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