Lawyer Salary

Originally Posted by Unregistered

Any idea what's the sentiment on the ground in terms of private practice market? (local law firms)

that's the thing about our sh*ty immature/underdeveloped legal market. there's hardly any market intelligence or legal news sites like in London or HK. Need to rely on word of mouth

are there firms where junior and mid-level assocs are in danger of being let go?

I heard of a few firms that have seen a slow down in conveyancing and corporate work. But a few firms should not be used as a representative of the market.

Would also like to hear if others have news.

Originally Posted by Unregistered

I can tell you that my last offer for an in-house role was 104k (13 mths) at pqe 4.... but that was also before the current shitty economy.

that's pretty good if hours aren't bad

Originally Posted by Unregistered

that's pretty good if hours aren't bad

yep. 8.30 to 6 most days. No OT, dont have to come in on the weekends.
only downside is the location - office in Jurong.

Originally Posted by Unregistered

A lot of the junior associates were retrenched. Most who were retrenched became too disillusioned to restart a career in law again. They did other things, and never mentioned that they were lawyers.

OP here. This comments is not from me, but it is in line with what i've heard from my friends.

Corp assoc @ big 4 here.

The pandemic has affected the different depts quite differently. Corp/M&A/DCM/Real estate are all grinding to a halt. On the flipside, financing and restructuring is getting flooded with work.

Liti is as busy as ever.

Wishing all practitioners the best in keeping their jobs and trainees in being retained by their firms. The economy was not doing well before this Covid-19 crisis and now this crisis essentially worsened it. It is a long and rough ride ahead.

is it honestly too naive to assume that lawyers thrive during times like these

as my lawyer friend puts it - "where do you think the money to pay me comes from?"

sad, was actually considering doing a jd

Originally Posted by Unregistered

is it honestly too naive to assume that lawyers thrive during times like these

as my lawyer friend puts it - "where do you think the money to pay me comes from?"

sad, was actually considering doing a jd

No corporation is thriving in times like these unless it is in the business of selling hand sanitizers or masks. The public sector will be relatively safe but the private sector has taken a huge beating because many countries are in lockdown officially or unofficially.

Even in the legal sector, it is worrying for all. The in-house counsel faces a risk of pay reduction or no-pay leaves. The corporate lawyers faces reduced business transactions, contracts or acquisitions because companies around the world are not functioning at 100%. Even for litigation lawyers, lesser people will think of engaging lawyers because legal actions are not a necessities and can be 'postponed'. And the practice trainees are facing a risk of retention.

To say that economies are in deep trouble is an understatement

Originally Posted by Unregistered

No corporation is thriving in times like these unless it is in the business of selling hand sanitizers or masks. The public sector will be relatively safe but the private sector has taken a huge beating because many countries are in lockdown officially or unofficially.

Even in the legal sector, it is worrying for all. The in-house counsel faces a risk of pay reduction or no-pay leaves. The corporate lawyers faces reduced business transactions, contracts or acquisitions because companies around the world are not functioning at 100%. Even for litigation lawyers, lesser people will think of engaging lawyers because legal actions are not a necessities and can be 'postponed'. And the practice trainees are facing a risk of retention.

To say that economies are in deep trouble is an understatement

One of the wisest post around. You tell the reality unlike some jokers earlier on trying to bluff that their litigation and finance practices are functioning at full capacity. Who are you trying to kid? Even if you may be doing work, when it comes to billing, can you collect? Don’t spread fake news please.

Originally Posted by Unregistered

No corporation is thriving in times like these unless it is in the business of selling hand sanitizers or masks. The public sector will be relatively safe but the private sector has taken a huge beating because many countries are in lockdown officially or unofficially.

Even in the legal sector, it is worrying for all. The in-house counsel faces a risk of pay reduction or no-pay leaves. The corporate lawyers faces reduced business transactions, contracts or acquisitions because companies around the world are not functioning at 100%. Even for litigation lawyers, lesser people will think of engaging lawyers because legal actions are not a necessities and can be 'postponed'. And the practice trainees are facing a risk of retention.

To say that economies are in deep trouble is an understatement

"lawyers faces reduced business transactions"

"lesser people"

"facing a risk of retention"

"not a necessities"