Hi , would like to canvass views from some of my more experienced learned friends!

Some personal background. Ex B4 disputes. Left ~5 PQE for inhouse , working for 1.5+ years now in a GLC. Recently got my bonus and feels like I've somewhat hit a learning plateau so considering my moves/options.

I was just looking @ Taylor Root's "Global in-house legal market report salary guide" for 2023-24.

What struck me was that the ranges for inhouse annual comp for 8-10 PQE are roughly about SGD 160k (on the low side) to 300k (on the high side). Ofc it differs from industry but it seems like the more common limit at the top end is about 240k -ish.

Then looking ahead at the very (roughly) approximated senior management level bands for legal people, the headline salaries are about 350k for Head of Legal to ~800k for Global GC, with large variances of ~20-40%.

It seems like the top line compensation for a typical inhouse counsel in this market isn't all that fantastic? I'm looking within my relevant band of 8-10PQE. Thus, I'm wondering whether it was a wrong career move to actually go inhouse, from a comp POV.

As far as intrinsic reasons, I'm pretty neutral abt whether to be in private practice or inhouse. I think my aptitude for either is roughly on par (neither fantastic nor poor). At the time I made the move, I seized upon the 1st inhouse offer from the headhunter and didn't really pay much attention to the market rate/bands for inhousers as I was eager to get out of my firm for personal reasons.

But thinking about it now, it seems like there's a natural cap to compensation which makes it less attractive than staying in pvt practice. Even assuming one makes it to the realistic position of Head of Legal, thats like 350k which isn't all that significant improvement in the larger context.

So would like to find out if any legal counsel made a return to pvt practice, restarted back on the law firm treadmill, and how difficult it is to restart? What are some practical limitations for a circumstance like mine?

If you're at 6-7 PQE and you're still asking this type of question on a salary forum, you neither deserve the higher payscales in-house nor the high salaries of mid to senior lawyers in pvt practice.

At 6-7 PQE, regardless of whether you are in-house or in private practice, you need to start showing more advanced skills than mere legal aptitude. What you fail to understand is people who are earning high pay at 6-7 PQE in private practice are the ones who can start to reel in business, the ones who show enough promise to make partner. The ones who can get high pay as an in-house at 6-7 PQE are also the ones who are well-connected enough, or show enough commercial instinct and political acumen to take up Head of Legal or Regional Counsel roles in MNCs.

If all you can do is just what an above average 2-3 PQE associate can do, you will never earn the high salaries you want regardless of whether you stay in private practice or go in-house.

6-7 pqe take up what Head of Legal role. Dont tok kok. Unless you mean those fly-by-night china crypto "fintech" companies working out of serviced offices.

New lawyer here and I got an offer from a very small and young firm doing Corporate and M&A work. In corp, there's only me and the partner. I guess is that M&A is a good practice area but the salary is small firm standard.

Not sure whether the deal size can be big given the small firm, but is it possible to jump to the big4 in the future (unknown name but relevant practice area)? Or do I need to do my rounds in some mid-size firm and then hopefully make it to big4?

Also, any insights about M&A generally or M&A in a small firm? Thanks everyone!

Not a death sentence since corporate lawyers are generally in demand (when the market is good). However, it's going to be a lot harder to climb to b4/int firms from a small firm.

Not hard. B4 M&A are all hiring. Many quitters. Will just take warm bodies.

anyone knows when linklater's post graduate 18 month programme starts taking applications?

By the firm at raffles place?

How many interns does CC take?

JB
 

Don't waste time with CC, especially disputes. Just see how their former Assocs have all fallen on the wayside.