Lawyer Salary

Originally Posted by Unregistered

Baker's starting salary is 7.5k, yearly increment about 1k. It is not a true international firm (more like individual firms in each country with their own revenue count but just bearing the same name). But it's pretty decent, prestige level lies somewhere in between the local big 4 and the true international firms.

Baker takes in about 10+ trainees per year, no need to be very exceptional. Generally people with high second uppers.

What about the yearly increment at TSMP? I hear everything is frontloaded into the monthly salary. Is this true?

It's only logical that those who can attract based on brand reputation need not pay too highly. The flip side is also true.

Originally Posted by Unregistered

Actually, Google Singapore pays poorly for an MNC in Singapore. No joke.

Originally Posted by Unregistered

Any professionals can clarify if lawyering is a sunset industry?
Heard of supply glut and the increasing move towards arbitration which means less litigation, less $$ for the firms.

The legal costs of arbitration is comparable or even higher than litigation. So unless you are individual who is exceptionally well-versed in the law, you would still need to hire a lawyer to represent you in an arbitration. Same goes for corporations - of course if the in house counsel is still in touch / was an ex-litigator then by all means. But more often than not that is not the case.

So no I don't think lawyering, or at least, dispute resolution, it a sunset industry. There are still plenty of instances where lawyers are needed. I can't speak for corporate lawyers because I am not one, but I don't think it's the case as well.

Originally Posted by Unregistered

But I know so many legal trainees who do NOT want to be retained, and increasingly view a legal career with disdain. If you're in the big 4, you should know what I am talking about..

Perhaps the people you know are in fact in the minority? These are trainees with good family background and good alternatives lined up for them. Otherwise I am sure trainees do consider the retention bonus (reimbursement of Bar fees, etc) and work for 12 months as an associate at least.

I could be wrong, maybe someone out here will have some better sentiments of the situation on the ground in bigger firms

From my personal experience, my time in A&G was a rather unfriendly and competitive one. R&T, which is seen in the industry to have the most welfare out of the Big 4, has also been trending towards this rather negative work culture. There are simply just too many people quitting or not being able to handle the pressure of work. Many people go into these law firms and picture a rather elite and sort of 'refined' life style, but it is quite the opposite when your life style is simply just working ungodly hours.

I think the issue, having experienced the Big 3/4 (A&G, D&N R&T), is that local firms are definitely feeling the pinch of the economy and the expansion of larger firms as they delve into Asia. I can only assume that that is the reason why they're pushing after the money more, and taking as many jobs as they can.

What are the Local Big 4's advantage as a unique selling point over the international firms? Being trans-nationally versed in Asia, however that is quickly diminish as giants like Baker literally set up shop everywhere. My time in Baker & CC, to my surprise, was a more enjoyable experience. It felt more amicable despite the equally, if not longer, hours, but people were happy to work there and felt like it was not a race.

Originally Posted by Unregistered

From my personal experience, my time in A&G was a rather unfriendly and competitive one. R&T, which is seen in the industry to have the most welfare out of the Big 4, has also been trending towards this rather negative work culture. There are simply just too many people quitting or not being able to handle the pressure of work. Many people go into these law firms and picture a rather elite and sort of 'refined' life style, but it is quite the opposite when your life style is simply just working ungodly hours.

I think the issue, having experienced the Big 3/4 (A&G, D&N R&T), is that local firms are definitely feeling the pinch of the economy and the expansion of larger firms as they delve into Asia. I can only assume that that is the reason why they're pushing after the money more, and taking as many jobs as they can.

What are the Local Big 4's advantage as a unique selling point over the international firms? Being trans-nationally versed in Asia, however that is quickly diminish as giants like Baker literally set up shop everywhere. My time in Baker & CC, to my surprise, was a more enjoyable experience. It felt more amicable despite the equally, if not longer, hours, but people were happy to work there and felt like it was not a race.

I thought A&G is supposed to have best welfare and R&T the worst...? I also heard the reverse about offshore firms - that while the remuneration is better, the environment can potentially be more competitive/toxic than legal firms

Jump to an international firm while you can. The training, know-how, exposure and contacts that you get in an international (UK or US) firm is unparalleled.

Partnership may not be realistic, but you get experience that even the top tier local firms cannot offer you.

There will be an influx of such firms into our local industry soon. The current protectionism cannot hold and doesn't make sense.

For those associates in top local firms now, use it as a springboard to the international ones. I get the impression of course its easier to jump if you're in a transactional practice area rather than in pure disputes. Commercial arbitration may be the exception though.

Originally Posted by Unregistered

I thought A&G is supposed to have best welfare and R&T the worst...? I also heard the reverse about offshore firms - that while the remuneration is better, the environment can potentially be more competitive/toxic than legal firms

I guess my personal experiences must have been different! I think that the welfare and atmosphere is might be less to do with the firm in general and more to do with who is influential in the specific department. I know that different departments have different policies.

In regards to the offshore firms, I found it quite surprising as well as I thought the experience would be far more competitive and less organic. To add to that, I was in the F&P department and worked with the people in C&S as well. My experiences there were great, and all the associates and partners were very friendly.

However this may not be true for everyone - I'm sure these sort of stereotypical perspectives cast upon these firms hold some truth for the large majority.

If anyone has any experiences, I'd like to hear theirs!

Originally Posted by Unregistered

Jump to an international firm while you can. The training, know-how, exposure and contacts that you get in an international (UK or US) firm is unparalleled.

Partnership may not be realistic, but you get experience that even the top tier local firms cannot offer you.

There will be an influx of such firms into our local industry soon. The current protectionism cannot hold and doesn't make sense.

For those associates in top local firms now, use it as a springboard to the international ones. I get the impression of course its easier to jump if you're in a transactional practice area rather than in pure disputes. Commercial arbitration may be the exception though.

What does the entry of more foreign firms mean for the local law firms practicing corporate law?

My friends who are accountants tell me that many foreign firms are losing money here. I doubt what u say is true.

I am considering a career in the legal sector as I have been offered a placing in the faculty of law in one of the local uni. However, i have multiple doubts and do not know anyone irl who can provide me with advice and the information online seems to be pretty vague. I would like to know what are the jobs available to law grads if they fail to secure a training contract upon graduation? Also, if I decide on a career switch after working for a few years as a lawyer, what other jobs will be available to me?