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  #3691 (permalink)  
Old 25-10-2018, 02:52 PM
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mind saying which firm doesn't increase salary come jan 2019?
Not the previous poster. But it's R&T. The salary is locked for 16.5 months till end December 2019. No bonus until December 2019.

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  #3692 (permalink)  
Old 25-10-2018, 04:35 PM
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Please don't mislead people.

(1) Forget the tax rate. Comparing apples with apples, we are looking at international firms' SG offices against Big 4, because that's really what Big 4 associates are considering (whether or not to move to an international firm within Singapore). Forget also the pound exchange rate and focus on comparisons in SGD. The more variables you throw in, the more easy it is to obscure the true state of affairs.

(2) Silver circle associates at SG Year 3 level are being paid approx $11,000. Magic circle pays approx $12,600. This is what they refer to as the "NQ rate" on the UK scale.

(3) Silver Circle and Magic circle bonuses also tend to be approx 2 months. Factor those in, and you get $154,000 for Silver circle and $176,400 for Magic Circle. Hows that look, against a measly $112,000 paycheck?

(4) International firms salary jumps are approx $1,500 to $2,000 a year. That's way above local firms' $800 to $1,000.

(5) There is no front load scam in international firms. What you see is what you get. An honest to God basic salary and bonus with a clear demarcation between the two. And this matters a hell lot when you are serving your 3 months notice at a Big 4 and getting paid absolute peanuts during that time.

(6) Exit opportunities: International firm associates are much, much more mobile than Big 4 associates, and get poached into far more lucrative roles if/when they leave private practice. I was approached by a bank with a $10,000 offer when I was with A&G. Two years after I made the jump to an MC, that same bank came back with a more senior role, offering $20,500. Difference much?

I'm one of those who made the jump, and I can see the hugeass gulf between the two. The difference is nowhere as negligible as you make it out to be. Don't mislead readers please. I feel strongly about this because I got smoked by people like you before, and missed out two years of international experience because I got conned into staying with A&G. It's a complete scam.
Do you know if all the MC firms in SG pay the same rate? I know CC and A&O do pay proper MC rates, but I've heard nothing about Links or FF.



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  #3693 (permalink)  
Old 25-10-2018, 05:33 PM
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Hey guys, in response to the above poster on Morgan Lewis Stamford, can someone share their knowledge about this? Is this something to be concerned about as someone who's eventually going to TC there?
As a senior lawyer once asked me, why would anyone wanna TC there??

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  #3694 (permalink)  
Old 25-10-2018, 05:49 PM
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Would people here happen to know what the salary structure, career progression prospects (both internally and externally) and retention rate at Shook Lin & Bok are like?
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  #3695 (permalink)  
Old 25-10-2018, 06:47 PM
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As a senior lawyer once asked me, why would anyone wanna TC there??
Please elaborate! What’s going on with MLS!
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  #3696 (permalink)  
Old 25-10-2018, 07:26 PM
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Please don't mislead people.

(1) Forget the tax rate. Comparing apples with apples, we are looking at international firms' SG offices against Big 4, because that's really what Big 4 associates are considering (whether or not to move to an international firm within Singapore). Forget also the pound exchange rate and focus on comparisons in SGD. The more variables you throw in, the more easy it is to obscure the true state of affairs.

(2) Silver circle associates at SG Year 3 level are being paid approx $11,000. Magic circle pays approx $12,600. This is what they refer to as the "NQ rate" on the UK scale.

(3) Silver Circle and Magic circle bonuses also tend to be approx 2 months. Factor those in, and you get $154,000 for Silver circle and $176,400 for Magic Circle. Hows that look, against a measly $112,000 paycheck?

(4) International firms salary jumps are approx $1,500 to $2,000 a year. That's way above local firms' $800 to $1,000.

(5) There is no front load scam in international firms. What you see is what you get. An honest to God basic salary and bonus with a clear demarcation between the two. And this matters a hell lot when you are serving your 3 months notice at a Big 4 and getting paid absolute peanuts during that time.

(6) Exit opportunities: International firm associates are much, much more mobile than Big 4 associates, and get poached into far more lucrative roles if/when they leave private practice. I was approached by a bank with a $10,000 offer when I was with A&G. Two years after I made the jump to an MC, that same bank came back with a more senior role, offering $20,500. Difference much?

I'm one of those who made the jump, and I can see the hugeass gulf between the two. The difference is nowhere as negligible as you make it out to be. Don't mislead readers please. I feel strongly about this because I got smoked by people like you before, and missed out two years of international experience because I got conned into staying with A&G. It's a complete scam.
Do women throw themselves at you?
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  #3697 (permalink)  
Old 25-10-2018, 08:57 PM
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Do women throw themselves at you?
I am happily married with kids.
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  #3698 (permalink)  
Old 26-10-2018, 06:24 PM
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What are my options if I am a first class from a delisted uni but have been unable to find a job for 1 year now...
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  #3699 (permalink)  
Old 26-10-2018, 06:36 PM
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Insurance
Realtor
Teacher
Legaltech
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  #3700 (permalink)  
Old 26-10-2018, 06:37 PM
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I am happily married with kids.
not mutually exclusive lah lawyer
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