Lawyer Salary

Originally Posted by Unregistered

Please don’t spread fake news.
The increase is not $1k

Then what is the increase?

Originally Posted by Unregistered

Then what is the increase?

Only lock-step for 3 years. And not 5.
Also, increase is not $1k. Old days yes.
Now no.

More likely $500-800

After 3 years, depend on performance. Merit based increment.

Originally Posted by Unregistered

Does anyone know what the salary and progression is like in the legal service? As a scholar vs non-scholar?

Yes. Scholar is top. Followed by Oxbridge. Followed by JLC.
Then NUS top 5%, then SMU (top 3%).
Then all other unis.

Originally Posted by Unregistered

Only lock-step for 3 years. And not 5.
Also, increase is not $1k. Old days yes.
Now no.

More likely $500-800

After 3 years, depend on performance. Merit based increment.

so what is the salary scale? and merit based increment is something im hearing for the first time. what source? which firms?

Originally Posted by Unregistered

so what is the salary scale? and merit based increment is something im hearing for the first time. what source? which firms?

Not the OP but from one of the big 4 and it's merit based where I'm at. Annual performance review will determine your increment (or lack thereof). Apart from 1 pqe, which is lock-step, your salary may be frozen for the following year, bumped up by 3-500, bumped up by 1k, or bumped up by more than 1k. There's a 4th year on my floor earning more than 12k (not really sure of the exact figure but she joined at a good time and achieved consistently good results)

Originally Posted by Unregistered

Stay on topic pls

Bunch of Singaporean Asians with no connection whatsoever to US talking about partnership in wachtell cravath etc is frankly preposterous. Might as well say u wanna be US president

Maybe not the US firms because they generally tend to hire US JDs, but UK firms like Slaughters not out of reach. Just search Linkedin, theres already a handful of Singaporeans there. Even more at lesser paying (albeit still higher rates than SG) MC and SC firms.

Originally Posted by Unregistered

Not the OP but from one of the big 4 and it's merit based where I'm at. Annual performance review will determine your increment (or lack thereof). Apart from 1 pqe, which is lock-step, your salary may be frozen for the following year, bumped up by 3-500, bumped up by 1k, or bumped up by more than 1k. There's a 4th year on my floor earning more than 12k (not really sure of the exact figure but she joined at a good time and achieved consistently good results)

Yeah and if I may add, frozen means it’s a sign for you to find another job.
Typically it’s 500 per year increase. And that’s for ppl who hit their targets.

Originally Posted by Unregistered

Yeah and if I may add, frozen means it’s a sign for you to find another job.
Typically it’s 500 per year increase. And that’s for ppl who hit their targets.

That's quite interesting. I moved from one big 4 to another, and i saw the bulk of the NQ to 3 PQ associates getting average increments per 12 month period of about $650 (previous firm which used to give the lowest base pay in the big 4) or $1k increment (current firm) - averaged over the first 41 months (August call to the December 3 years later). There was, however, a more significant variance at my previous firm. The increments also tend to get larger around the 3-5 PQ period (but greater discretionary adjustment).

Also just heard that R&T improved the salary for 1 & 2 PQE to approximately match A&G and DN.

Originally Posted by Unregistered

Maybe not the US firms because they generally tend to hire US JDs, but UK firms like Slaughters not out of reach. Just search Linkedin, theres already a handful of Singaporeans there. Even more at lesser paying (albeit still higher rates than SG) MC and SC firms.

And I might add - white shoe firms are increasingly starting to take in Singaporeans lateraling in from the MCs.

To anyone who says 500k a year by early 30s is not possible in law, pls go take a look at the cravath scale with lockstep bonus. You CAN hit 500k by 35. I’m not gonna make it because I lateralled in late and I’m a guy, but the girl next door who lateralled in early is about to hit S$500k per annum, at 33.

Law pays well at the upper tiers of practice, and it’s not as unachievable as some make it out to be.

Originally Posted by Unregistered

And I might add - white shoe firms are increasingly starting to take in Singaporeans lateraling in from the MCs.

To anyone who says 500k a year by early 30s is not possible in law, pls go take a look at the cravath scale with lockstep bonus. You CAN hit 500k by 35. I’m not gonna make it because I lateralled in late and I’m a guy, but the girl next door who lateralled in early is about to hit S$500k per annum, at 33.

Law pays well at the upper tiers of practice, and it’s not as unachievable as some make it out to be.

Exactly. To the poster who said it’s not possible for people to be GM of a business unit by 35, you’re terribly wrong. Top law grads are supremely brilliant.
Those who leave industry go on to be top investment bankers, top politicians, etc.
It’s the brain. Not the degree.