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26-06-2020, 06:58 PM
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Quote:
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.
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You're also forgetting bonuses. We've all just been talking about base pay. The bonus for IB is 3 to 10 months or more (if not tied to salary) (which is absolute bonkers).
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26-06-2020, 07:23 PM
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Quote:
Originally Posted by Unregistered
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.
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Did not say which role. The stupidity of assumptions made really baffles me.
Anyway, comparing JP to Vice President (7 years), VP earns double.
In those 7-10 years when you're progressing to JP, you already lost about half your salary to the IBers (>half a million difference over those 7 to 10 years).
At the top, if you compare MD vs EP, MD can get up to double incl bonus.
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26-06-2020, 07:34 PM
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Quote:
Originally Posted by Unregistered
Did not say which role. The stupidity of assumptions made really baffles me.
Anyway, comparing JP to Vice President (7 years), VP earns double.
In those 7-10 years when you're progressing to JP, you already lost about half your salary to the IBers (>half a million difference over those 7 to 10 years).
At the top, if you compare MD vs EP, MD can get up to double incl bonus.
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I mean if you’re in it for the $, yes do a relevant degree and try for IB. Doesn’t mean you’ll get into IB/thrive in IB/rise the ranks in IB. Takes a certain kind of individual/skill set which can be pretty different from law.
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26-06-2020, 07:34 PM
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Being an IB won't make your traditional Asian parents as proud of you compared to becoming a lawyer.
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26-06-2020, 08:43 PM
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should i work in uk or sg? heard trainees often get abused in sg, is it true?
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26-06-2020, 09:06 PM
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Quote:
Originally Posted by Unregistered
I mean if you’re in it for the $, yes do a relevant degree and try for IB. Doesn’t mean you’ll get into IB/thrive in IB/rise the ranks in IB. Takes a certain kind of individual/skill set which can be pretty different from law.
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But law also has a high attrition rate...
You see most people leaving this rather small industry sooner rather than latet
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26-06-2020, 09:07 PM
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Quote:
Originally Posted by Unregistered
Got pay bump so dramatic meh? Diff btw drew 1PQE vs MBFC T1?
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work less earn more?
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26-06-2020, 09:21 PM
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im now studying in uk (not oxbridge), is it better to apply for TCs here or uk?
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26-06-2020, 09:58 PM
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Quote:
Originally Posted by Unregistered
im now studying in uk (not oxbridge), is it better to apply for TCs here or uk? |
I’m a junior lawyer working in London. Compared to my batch mates who went back to SG, I definitely feel that the training and workload is much better here. Pay wise, we earn more but we also have to pay for rent so you aren’t going to see much difference financially for the first few years.
Prospects wise, if you’ve got a TC in London you’ve basically reached the “promised land” that every ambitious Singapore lawyer is aiming towards. From what I’ve seen in my firm, it’s quite easy to leverage your experience into other rules in industry if you wanted.
Only downside is that the majority of your family and friends will be a 13 hour flight away.
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