Lawyer Salary

Originally Posted by Unregistered

Cravath scale salary in non-USD currency is not as transparent as that. LW could pay on either a floating rate (i.e. your salary is based on whatever the exchange rate says it is at the time) or on a spot rate (i.e. your salary is based on what the exchange rate was at a specific point of time in the past). This can lead to massive variations in salaries for firms paying "Cravath scale". For example, in the UK, this can range anywhere between 120k - 148k.

US firms hedge their local currency exposure. We generally enjoy the upsized of fluctuations whilst enjoying protection against dollar depreciation. The downside is that Cravath is net of CPF, including employer contributions, which means that $13k per annum disappears into the void of the useless CPF SA and MA. Otherwise, Cravath is absolutely awesome at SG tax rates. I’d say we do better than our NY colleagues due to the tax differential.

The Fx variation is not significant. It’s but a red herring in the grand scheme of things.

Originally Posted by Unregistered

Why is everyone so focused on international firm salaries? Not possible to obtain anyway. Local firm salaries are also decent, about 60-70k SGD per annum pre-bonus starting

Uhm, if you’re going to be working 12 hours a day anyway, would you rather be getting domestic SGD70k or Cravath SGD300k?

I find your comment very amusing, but ultimately unhelpful.

Originally Posted by Unregistered

Why is everyone so focused on international firm salaries? Not possible to obtain anyway. Local firm salaries are also decent, about 60-70k SGD per annum pre-bonus starting

It is not "not possible" to obtain. More international firms are starting to offer TCs in their Singapore offices, either by way of a hybrid programme with London, or a local TC programme. If you can't get into these places as trainees, then lateral into the Singapore or Hong Kong offices after you get called. This does mean that you need to have trained and/or practised in a relevant practice area with a reputable mid size or big four firm as the recruiters will be looking for candidates from these places. Typically, these practice areas would be corporate, banking/finance, capital markets, funds and to some extent, international arbitration. Hence, if you wish to join an international firm ultimately, choose your TC (firm and practice area) wisely.

MC, US or Cravath rates are not impossible but you need to put in substantial effort in securing a TC and subsequent qualify into a relevant practice area in a reputable mid size or big four firm. I know this may seem impossible to some of you as the competition for TCs is so stiff nowadays but you still need to do your research and try your best to gain some internship experience in the relevant practice areas to sell yourself to the hiring partners. If you don't come from a good law school with good grades or outstanding achievements or connections, the journey will be tougher but not impossible.

Originally Posted by Unregistered

dont understand how #3815 was being cocky tbh? how could it that you genuinely believe he had a kneejerk reaction when imo it was pretty clear he was trolling the other trolls? tunnel vision much.

LOL #3815 is that you? "trolling the other trolls" yea more like triggered little law kid plz

Originally Posted by Unregistered

US firms hedge their local currency exposure. We generally enjoy the upsized of fluctuations whilst enjoying protection against dollar depreciation. The downside is that Cravath is net of CPF, including employer contributions, which means that $13k per annum disappears into the void of the useless CPF SA and MA. Otherwise, Cravath is absolutely awesome at SG tax rates. I’d say we do better than our NY colleagues due to the tax differential.

The Fx variation is not significant. It’s but a red herring in the grand scheme of things.

lol sad if you think CPF is useless. it's really a great tool (to exploit, really) for financial planning if you know what you're doing

Originally Posted by Unregistered

lol sad if you think CPF is useless. it's really a great tool (to exploit, really) for financial planning if you know what you're doing

But... will They #returnourCPF?

Kappa

The number of butt-hurt law students and no-life trolls on this thread is too high

Hey just out of curiosity, how do graduates from Australian schools fit into the Sg legal system? Would they be on similar footing as the local grads, say if they're from better Aussie schools like say Monash or Uni Melbourne? And what about graduates from "lesser" unis like say UQ or UNSW

Originally Posted by Unregistered

Hey just out of curiosity, how do graduates from Australian schools fit into the Sg legal system? Would they be on similar footing as the local grads, say if they're from better Aussie schools like say Monash or Uni Melbourne? And what about graduates from "lesser" unis like say UQ or UNSW

You'll notice there is no chatter on Australian law in this thread. That's because there is no such thing as a "better" Australian law school. Kings would look like Oxbridge in comparison.

Originally Posted by Unregistered

You'll notice there is no chatter on Australian law in this thread. That's because there is no such thing as a "better" Australian law school. Kings would look like Oxbridge in comparison.

No comparison for Australia universities.
It’s just an alternative pathway for people who would like to qualify as a lawyer in Sg that’s it.
UK (London + Oxbridge) are so heavily discussed here because of the interest it attracts from the scholars / top A level students.