Lawyer Salary

Originally Posted by Unregistered

My masters is better than your undergrad 2.2/low 2.1 that's why I'm at an international firm

And btw yes I'm delisted and I outperformed your NUS FCH

Originally Posted by Unregistered

hi! law student here. just curious, will the pay rise from NQ to 1PQE occur in January, or is it 1 full year after getting called to the bar. Thanks!

I believe this depends on the firm, but generally there should be a pay rise in January (i.e. 4 months after your mass call in August) though you are still considered a NQ. I have heard of firms which do not offer the pay rise though.

Anyone knows why some firms pay by the (base + monthly variable component) way? Is that common across the bigger firms? Does that mean that bonus is frontloaded?

Originally Posted by Unregistered

Anyone knows why some firms pay by the (base + monthly variable component) way? Is that common across the bigger firms? Does that mean that bonus is frontloaded?

Yes it is common

Hi guys,

Is it fair to say that law is like investment banking? Earn five digits for a few years, tahan the crazy hours for a few years, and then after that ‘retire’ and move on to other chill jobs?

Originally Posted by Unregistered

Hi guys,

Is it fair to say that law is like investment banking? Earn five digits for a few years, tahan the crazy hours for a few years, and then after that ‘retire’ and move on to other chill jobs?

No. Lmao. IB gets paid 2-3x Singapore firm salary even at the highest scale. IB = Junior Partner pay. Hours are there. The second thing is, unlike IB, law is not transferable in other roles.

You do IB you can easily hop to middle office or other things. Which is why barring inhouse most lawyers start businesses. You could also do recruitment, BD etc, at least. Those are the ones I've seen

Originally Posted by Unregistered

Hi guys,

Is it fair to say that law is like investment banking? Earn five digits for a few years, tahan the crazy hours for a few years, and then after that ‘retire’ and move on to other chill jobs?

Are you nuts? IB start off with $12k Base
B4 law 5.5k Front loaded

Unless you say you get US white shoe.
S$330k per annum otherwise forget about it

Originally Posted by Unregistered

Hi guys,

Is it fair to say that law is like investment banking? Earn five digits for a few years, tahan the crazy hours for a few years, and then after that ‘retire’ and move on to other chill jobs?

Nope. Because you don't get five digits in your first few years (locally). The difference in the starting salaries between law and IB as well as the increments in your first few years is monumental, especially in Singapore. In the long run, you will make more as a lawyer if you stick it out in private practice, largely because you are able to become a profit participant in a firm rather than remaining an employee. However, it will take a long time (and you have to be quite successful) to get there.

Originally Posted by Unregistered

Nope. Because you don't get five digits in your first few years (locally). The difference in the starting salaries between law and IB as well as the increments in your first few years is monumental, especially in Singapore. In the long run, you will make more as a lawyer if you stick it out in private practice, largely because you are able to become a profit participant in a firm rather than remaining an employee. However, it will take a long time (and you have to be quite successful) to get there.

But by that time your IB friend would be Global President of XYZ bank. And you would still be paid less.

Originally Posted by Unregistered

But by that time your IB friend would be Global President of XYZ bank. And you would still be paid less.

Are you stupid? What kind of statement is that? How many "Global President of XYZ bank" do you think there are in Singapore? And how many big 4 equity partners are there?

The stupidity of the responses in this forum truly baffles me sometimes.