Lawyer Salary

is it a bad idea to take up a TC in the corporate department in the near future (say 2022) given the bad economy? are firms less likely to retain corp trainee as opposed to liti trainee (not big 4, smaller firm)

Originally Posted by Unregistered

Eh OP here im from nus dont know who pretend to be me

The troll.
Is ok. But ya - you should tell your seniors you have capacity. Or start sniffing around the firm to see if there are any other partners/teams willing to absorb you (on the low down, pls).

Originally Posted by Unregistered

The troll.
Is ok. But ya - you should tell your seniors you have capacity. Or start sniffing around the firm to see if there are any other partners/teams willing to absorb you (on the low down, pls).

Thanks thats helpful

SUSS mainly trains students for criminal and family law. May I ask what is the projected salary for NQs in this area? Thanks.

Originally Posted by Unregistered

SUSS mainly trains students for criminal and family law. May I ask what is the projected salary for NQs in this area? Thanks.

Depends. I know of a few paralegals who are doing the SUSS llb program in my previous firms (in Chinatown) who have had 15+ years of experience and they are easily drawing 9k-10k a month. I am pretty sure they will resume their roles in their current firms and will probably draw even more after they are qualified.

Originally Posted by Unregistered

Depends. I know of a few paralegals who are doing the SUSS llb program in my previous firms (in Chinatown) who have had 15+ years of experience and they are easily drawing 9k-10k a month. I am pretty sure they will resume their roles in their current firms and will probably draw even more after they are qualified.

Actually if you read up reports on the market there is a very high demand in private client (including family law, tax, civil liti, conveyancing). To those getting stuck I suggest you can apply to these areas. You will probably have an edge against others (like the newly minted local law school) since you have progressed this far. Career progression is fairly promising as I have peers with 4-5 PQE making partners in the smaller firms and they are actually drawing a salary more than you think. You get to go into the business world at an earlier stage as opposed to getting stuck in big firms. Your salary will depend on how good you are at bringing clients. So, open your minds up a little. There are always many promising opportunities out there if you do more research and get out of the boxed up mindset which society has taught you.

is it possible to start your own firm at 5 - 10 PQE and make 300 - 500k/year?

Originally Posted by Unregistered

is it possible to start your own firm at 5 - 10 PQE and make 300 - 500k/year?

Yes.
Getting clients has everything to do with perception/trust and absolutely nothing to do with competency in the field.

Originally Posted by Unregistered

Actually if you read up reports on the market there is a very high demand in private client (including family law, tax, civil liti, conveyancing). To those getting stuck I suggest you can apply to these areas. You will probably have an edge against others (like the newly minted local law school) since you have progressed this far. Career progression is fairly promising as I have peers with 4-5 PQE making partners in the smaller firms and they are actually drawing a salary more than you think. You get to go into the business world at an earlier stage as opposed to getting stuck in big firms. Your salary will depend on how good you are at bringing clients. So, open your minds up a little. There are always many promising opportunities out there if you do more research and get out of the boxed up mindset which society has taught you.

Great comment, thank you.

To add on, to make the contrast bigger: it's like comparing working in (or owning) a small firm making $10 to $15k but handling only State Court matters and general solicitors' work for the rest of your life (with reasonable hours too) v being an employee of a glam intl firm working on 'glam' deals (and only dealing with other employees who probably won't be as annoying as a private client).

Originally Posted by Unregistered

Yes.
Getting clients has everything to do with perception/trust and absolutely nothing to do with competency in the field.

gonna quit and join a two person firm liao