Lawyer Salary - Page 519 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Lawyer Salary

Reply
 
Thread Tools
  #5181 (permalink)  
Old 01-05-2020, 02:54 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi, currently a trainee at a big four firm and have a general question about salaries.

I understand that salaries for associates at big four firms are frontloaded. Are we still eligible for a bonus, and if so, how is the bonus computed - how many months can we expect to get? Some posts on this forum have said that associates can get 6-9 months of bonus but I'm not sure if thats still relevant now since salaries are front loaded, and also 6-9 months sounds really generous. I know the recession will probably change things and bonuses will be low but i'm wondering about the "norm"

Also, are senior associate salaries front loaded as well or is it all performance based?

When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
On the Drew part, yes specific teams such as DS had a heavy emphasis on the bonus system. However, since he left I'm not sure what it's like nowadays.

Reply With Quote
  #5182 (permalink)  
Old 01-05-2020, 02:56 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Seems he was an aviation and maritime asset finance lawyer. Perhaps he was already on the outs given the current climate and needed this scheme as a hustle.
Yes this is the most likely. If an international firm decided to drop an assoc because of this sort of thing, you can bet that they would have released a statement. It is likely that he was already on the way out when this happened.

Reply With Quote
  #5183 (permalink)  
Old 01-05-2020, 04:35 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi, currently a trainee at a big four firm and have a general question about salaries.

I understand that salaries for associates at big four firms are frontloaded. Are we still eligible for a bonus, and if so, how is the bonus computed - how many months can we expect to get? Some posts on this forum have said that associates can get 6-9 months of bonus but I'm not sure if thats still relevant now since salaries are front loaded, and also 6-9 months sounds really generous. I know the recession will probably change things and bonuses will be low but i'm wondering about the "norm"

Also, are senior associate salaries front loaded as well or is it all performance based?

When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
The front-loading thing may become a thing of the past. Half of the big 4 do not / no longer have it.

Even with front-loading, historically the bonus at big 4 firms (but excluding the special high-flying teams) tended to range from 0-3 months (based on front-loaded monthly pay), depending on performance (which isn't only based on the individual associate's performance). There are, of course, exceptions. The 0-3 months' range broadly correlates with 6-9+ months' bonus calculated against base pay (i.e. without front-load) spread over the 12-months' period.

Senior associate salaries tend to have the same structure as junior associates. However, note that some firms more readily give bigger increments to good performers, while others adhere more closely to the 'lock-step' norm.

Quote:
When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
I think this is a matter of degree - this shouldn't be seen as a binary ("no lock-step" v "100% lock-step").

Reply With Quote
  #5184 (permalink)  
Old 01-05-2020, 05:19 PM
Unregistered
Guest
 
Posts: n/a
Default

Transportation finance is ______ with or without a bail-out. Look at the layoffs on their side, no one is spared. Even once covid dies down travel and tourism will take years to get over the paranoia and the recession.
Reply With Quote
  #5185 (permalink)  
Old 01-05-2020, 06:31 PM
keyboard warrior
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by markharris View Post
All very valid points. Nah I’m not his friend, just a keyboard warrior but one that got quite shocked when I read the news. I do part time university admission counselling so it seemed analogous to that.

Your point about the implied circumvention of the democratic application process is true; but we all know people who have entered the industry using connections privately, at least this opens it up to everyone ? Plus there was an option to defer payment if they can’t afford. But ultimately you’re right it’s never a right thing to publicly insinuate corruption-like services.

Yes It was Milbank’s decision not the law soc, but that was a very predictable outcome from the law Soc’s POV when they used words like fox in sheep’s clothing - pre-charge accusations and libel ?

Yes moral of the story is if sounds bad it probably is - thanks for clarifying ! Stay safe !
like you i am a keyboard warrior and not his friend. While his idea is definitely objectionable, objectively, as a self declared right thinking member, I think Law Soc official statement (including Greg's harsh words) are rather uncalled for and arguably opportunistic.

I mean this forum is full of evidence of the harsh hours, bad culture etc perpetrated by law firm partners who are themselves exploiting juniors (perhaps less in your face). Law Soc's response thus far is to convene committees to review Tc etc and have a young lawyer sub com. End of the day, issue of exploitation is still widespread in the industry.
Reply With Quote
  #5186 (permalink)  
Old 01-05-2020, 07:12 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I do agree with your analysis of our lacklustre legal industry but be let's be honest, A level graduates choose their degree based on what they perceive to be a safe choice and what the industry signals to the market. This isn't a problem only in the legal industry, have you not seen batches of chemical engineering and bio-engineering graduates got burnt by the government's marketing tricks of painting a rosy picture of the industry only to quietly leave graduates to die after they graduate?

The supply committee has been sending wrong signals to the market since its first incarnation and unlike general degrees, law students do not have much options to steer their career on a different trajectory once they begin law school. The law graduates who graduated at the peak of the current glut decided to read law partly because of news reports on the shortage of lawyers, barely a year or two later a third law school was set up and by the time of graduation the boo-boo was attempted to be covered up with a restatement that the shortage was only in community lawyers.

It is true that in the US many students take on huge debt to get a JD but its not a straightforward comparison. A JD in the US is a 2 year program and US graduates has the option to fall back on their bachelors or previous work experience.

Everyone would hustle if given the opportunity but the fact is some are not given a chance, and the fortunate seniors have no empathy for the juniors because they have not been in their shoes.
Agree that the messaging from the government/law society is not very accurate (as they have vested interests in only saying good news about themselves), but what I don't get is why there aren't more Singaporean grads looking overseas to work when the Singapore market is crowded and there's a comparatively bigger market elsewhere. The jobs move globally now, and we also have to be mobile while we can.
Reply With Quote

  #5187 (permalink)  
Old 01-05-2020, 09:24 PM
Unregistered
Guest
 
Posts: n/a
Default

how to go overseas? llm and another round of bar exams not free leh.
Reply With Quote
  #5188 (permalink)  
Old 01-05-2020, 10:55 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi, currently a trainee at a big four firm and have a general question about salaries.

I understand that salaries for associates at big four firms are frontloaded. Are we still eligible for a bonus, and if so, how is the bonus computed - how many months can we expect to get? Some posts on this forum have said that associates can get 6-9 months of bonus but I'm not sure if thats still relevant now since salaries are front loaded, and also 6-9 months sounds really generous. I know the recession will probably change things and bonuses will be low but i'm wondering about the "norm"

Also, are senior associate salaries front loaded as well or is it all performance based?

When I was interning at Drew, one of the partners told us that lawyers at Drew will be highly rewarded and there is no lock step system, "you will not have your light dimmed by the collective shade of everyone else" if you are a good performer. Is that actually true...?
Two of four of those firms have front-loaded salaries. Total "bonus" of 6-9 months of base salary means a year-end bonus of about 0-2.5 months of your gross monthly salary.
Reply With Quote
  #5189 (permalink)  
Old 01-05-2020, 11:20 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Market is damn bad now
Cannot say it is bad. Later the legal who's who condemn you as being irresponsible and fearmongering then you know!
Reply With Quote
  #5190 (permalink)  
Old 02-05-2020, 12:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
how to go overseas? llm and another round of bar exams not free leh.
Can work as a foreign-qualified lawyer in HK and London. And not to forget Middle East as well - they are always hiring.
Reply With Quote
Reply

Bookmarks

Tags
advocate, law, lawyer, legal, solicitor

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
From Lawyer Insider: Life is Glamorous but Unsatisfying Salary.sg Income and Jobs 31 15-01-2018 12:40 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,834 Replies, 6,666,800 Views
Is getting a PMP worth it ?
4 Replies, 7,110 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,309 Replies, 4,983,612 Views
Lawyer Salary ( 1 2 3... Last Page)
21,014 Replies, 10,329,648 Views
GovTech ( 1 2 3... Last Page)
5,161 Replies, 2,163,684 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,801 Replies, 1,044,377 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,393 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,628 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,723 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,464 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,382 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,956 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,061 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,770,638 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,455,966 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,158 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,956 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,809 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,330 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,462 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,585 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,248 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,931 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,624 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,623 Views
MX12 reappointed at MX11
8 Replies, 824 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,590 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,329 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,983 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,615 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:40 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2