Lawyer Salary

Originally Posted by Unregistered

Got silver circle tc

May not be worth it to withdraw - which firm is this and what practice area?

Originally Posted by Unregistered

Thoughts on Gunderson Dettmer layoffs?

More to come once the clients stop paying theze greedy us and uk law firms

Originally Posted by Unregistered

I think you know the answer to this question.

So what's the answer?

Is it true that disputes teams in top firms value grades and CCA achievements more than corporate teams? Why even bother with disputes then? Fewer exit options and less profitable, yet more demanding to get in?

Originally Posted by Unregistered

you sinkies damn ungrateful. you know how much firms pay their pupils in Malaysia? sometimes 2k RINGGIT MALAYSIA

Singapore is regional financial centre bruh. Our peers or the cities we are aspiring to are HK, Sydney, London and NY. The market here is already severely underpaying compared to these jurisdictions. In terms of what lawyers charge clients for legal services, and what salaries lawyers are paid.

It's not our fault that your KL is a kampong. Your peer cities are Manila, Jakarta, HCMC. Obviously the COL and pay is going to be lower. Anyway Malaysia is a joke jurisdiction that isn't taken seriously and most of its best and brightest have long fled. So it's really apples to oranges.

Originally Posted by Unregistered

you sinkies damn ungrateful. you know how much firms pay their pupils in Malaysia? sometimes 2k RINGGIT MALAYSIA

If you so good, leave Malaysia and come to Singapore lah. Plenty of the top talent in Malaysia have done that. If you CMI, then don't complain about your low salary in Malaysia.

Why isn’t there more transparency in Singapore regarding law firms and their profits, work life in culture? In the UK prospective employees have the benefit of sites like Roll on Friday, Legal Cheek and even Chambers Student comparing and contrasting the different firms in the market, while Sg lawyers have to contend with word-of-mouth, salary.sg and (oh dear me) law firm websites, most of which are horribly designed and completely useless.

Originally Posted by Unregistered

Why isn’t there more transparency in Singapore regarding law firms and their profits, work life in culture? In the UK prospective employees have the benefit of sites like Roll on Friday, Legal Cheek and even Chambers Student comparing and contrasting the different firms in the market, while Sg lawyers have to contend with word-of-mouth, salary.sg and (oh dear me) law firm websites, most of which are horribly designed and completely useless.

Showing annual revenue, revenue per lawyer (RPL), profits per partner (PPP) and profits per equity partner (PEP) like AmLaw rankings will reveal just how uncompetitive and unprofitable our local outfits are.

It will also foster dissatisfaction amongst the ranks of junior EPs and lower salaried masses when they realize just how much they've been shortchanged by the top few equity partners hoarding most of the profits in the big firms. The Big 4 can't risk this because of the danger of talent flight.

I'm very sure most of our local "Big 4" law firms are mediocre performers overall. Their revenue probably wouldn't even hit higher than top 30 in the The Lawyer 100's ranking of UK firms, given the size of Singapore's legal market.

The norm of financial transparency in markets like UK and US serve as KPI for law firm leaders. Managing partners in these markets are pressured to continually drive annual revenue and PEP increases, and many have been ousted or forced to step down over annual declining revenue or PEP, not to mention the hit to their firm's prestige.

Entire big law firms have been brought down by a "run on partner talent" when partners flee a law firm that is perceived to be declining, even though it was for all purposes still solvent and profitable. The example of BigLaw (Canadian) firm Heenan Blaikie comes to mind. Other examples in the US are Dickstein Shapiro, and Howrey LLP. These were perfectly solvent firms that faced a partner run and had to dissolve.

In Singapore, managing partners' only interest is in to ensure their inner circle (i.e. senior EPs) and themselves hoard and collect the most profit and maintain more or less the same amount of takehome every year. If they can increase the revenue pie, even better but not crucial. Less transparency benefits them because they will be less accountable to the other partners, the other stakeholders/salaried employees in the firm, and the broader market for their management performance (or lack thereof).

Originally Posted by Unregistered

Do my learned friends think that the salary will be upped for the 12-month TC? Or else 2K really pathetic and opportunistic of them.

TSMP website indicated that they are offering 3.5k per month from 2025 onwards. 2.5k for the first 2 month

Originally Posted by Unregistered

whats your stats btw? i wanna know

high magna, did a TC with this firm last december