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  #16821 (permalink)  
Old 22-05-2022, 02:03 PM
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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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  #16822 (permalink)  
Old 22-05-2022, 02:27 PM
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Mr Ang explains this transparency deficit as prompted by the need to retain talent.

"We haven't even thought of (revealing numbers)," he says. "If we are too transparent, it creates unhealthy competition. The remuneration committee knows all the numbers but if you and I start comparing, it creates unhealthy competition. It makes people want to join particular firms just for the money."

s://.straitstimes.com/business/invest/patrick-angs-setting-rajah-and-tann-for-life-after-45
Mr Ang explains this transparency deficit as prompted by the fear of talent leaving for greener pastures.

"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."

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  #16823 (permalink)  
Old 22-05-2022, 02:59 PM
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The harder you work, the richer he gets!

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  #16824 (permalink)  
Old 22-05-2022, 06:08 PM
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Anybody can post the full ST Business article here?
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  #16825 (permalink)  
Old 22-05-2022, 06:25 PM
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A backwater mentality. Surely if there is pay transparency, you would know better if a top assoc joining you is joining for your money or not? Also, this just sounds like the classic 'poor bf' argumentative: "but it is not about the money! I want to know you are with me not just for my money". If you are paying top rates, you would be proud and using that as part of your recruitment.

Also further in his argument on why performing junior RT lawyers are not paid good bonus... Come on la, EPs bring in work but the junior assocs do the heavy lifting. He also mentioned that junior lawyers i.e up to 3 PQE cost more than value add to the firm.. Hello, they are the most valuable to a file since they cost so little hourly but can more or less be used to run the day to day file.

Honestly this is just a shameless ad and one used by the firm's management to propagate outdated mindsets on assoc compensation and grievances. Pui!
Agree entirely. You mean got people join law firm and kill themselves working crazy hours in any big firm for reasons other than money meh? Logic is odd.

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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  #16826 (permalink)  
Old 22-05-2022, 06:29 PM
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Quote:
Originally Posted by Unregistered View Post
A backwater mentality. Surely if there is pay transparency, you would know better if a top assoc joining you is joining for your money or not? Also, this just sounds like the classic 'poor bf' argumentative: "but it is not about the money! I want to know you are with me not just for my money". If you are paying top rates, you would be proud and using that as part of your recruitment.

Also further in his argument on why performing junior RT lawyers are not paid good bonus... Come on la, EPs bring in work but the junior assocs do the heavy lifting. He also mentioned that junior lawyers i.e up to 3 PQE cost more than value add to the firm.. Hello, they are the most valuable to a file since they cost so little hourly but can more or less be used to run the day to day file.

Honestly this is just a shameless ad and one used by the firm's management to propagate outdated mindsets on assoc compensation and grievances. Pui!
Exactly, you mean there are people who kill themselves working the hours expected in a Big 4 firm for anything other than money meh?

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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  #16827 (permalink)  
Old 22-05-2022, 06:32 PM
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Exactly, you mean there are people who kill themselves working the hours expected in a Big 4 firm for anything other than money meh?

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.
Article from our competitor. Pui!
- said Big 5 firm
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  #16828 (permalink)  
Old 22-05-2022, 06:37 PM
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"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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  #16829 (permalink)  
Old 23-05-2022, 09:33 PM
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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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  #16830 (permalink)  
Old 24-05-2022, 02:55 AM
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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!
B4 firms don't really use "PQE" to describe seniority, that's more of a UK firm phrase.

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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