He pays himself very well. Remuneration in a law firm is a zero sum game. Less for you means more for them.
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"We haven't even thought of being transparent with salary information," he says. "If we are opaque, it allows us to underpay our underlings. The remuneration committee knows all the dirty secrets but if you and I start comparing, it reveals the unhealthy pay gap. It makes the sweatshops lose their underlings who want to jump to more equitable firms just for the fairer treatment." |
The harder you work, the richer he gets!
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Anybody can post the full ST Business article here?
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But at least the article alluded to RnT being a “big four firm”. At least it didn’t further the fiction of there being a “Big 5”. |
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although at least the article talks about RnT as a “big 4” firm thereby making clear that there is no such thing as a “Big 5” in our legal industry. |
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- said Big 5 firm |
"Big 5" is quite funny though. Every few months their sig bar changes with the addition of a random associated office in Timbuktu or Madagascar or whatnot. I'm sure opening its 15th African office in some third-tier city in Africa is gonna take Dentons to the same heights of global prestige as Kirkland or Latham. Lol
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Hi seniors, can someone help me clarify whether 1PQE means the next Aug from your mass call (usually happens in Aug every year), or the next calendar year in Jan (meaning 4 months after your call)?
Asking in the context of salary scales that list the bands for NQ, 1PQE, 2PQE etc. What is the practice in B4 regarding salary increments? Thanks! |
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B4 firms: You increase your level of seniority / get a pay increment at the start (i.e. 1 Jan) of each calendar year. So if you qualify in Apr or Aug, you are A1 for the rest of the calendar year (and on A1 salary). Then from 1 Jan of the next calendar year, you are A2 (and on A2 salary). This continues until the associate lockstep ends: A1, A2, A3, A4, SA1, SA2, SA3 etc. That was my experience in 2 B4 firms. In UK firms: First 12 months after you qualify = NQ Next 12 months = 1PQE etc. US firms use "class year", but there is so much discrepancy amongst international offices of US firms that this is a whole other discussion... |
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