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28-06-2021, 12:20 PM
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Quote:
Originally Posted by Unregistered
No need b4 tc, a certain partner at a smaller outfit published a monthly salary of 150-200k. The old timer really got it easy with the gravy train
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Not monthly salary $150-200K lah. Doesn't work that way.
He said his book is $2M per annum and monthly collections $150K to $200K lah, and the firm is taking > 50% cut.
$166K per month collection is reasonable, so the $2M figure seems plausible also. If so, let's assume his take home is 45% (firm takes 55%).
Means his annual take home is about $900K. But no CPF included / must self-contribute CPF, since equity partners are self employed.
Seems very reasonable for a senior lawyer in a small firm.
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28-06-2021, 01:03 PM
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Quote:
Originally Posted by Unregistered
Not monthly salary $150-200K lah. Doesn't work that way.
He said his book is $2M per annum and monthly collections $150K to $200K lah, and the firm is taking > 50% cut.
$166K per month collection is reasonable, so the $2M figure seems plausible also. If so, let's assume his take home is 45% (firm takes 55%).
Means his annual take home is about $900K. But no CPF included / must self-contribute CPF, since equity partners are self employed.
Seems very reasonable for a senior lawyer in a small firm. |
Many big 4 partners dont have 2m book, not even 1m
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28-06-2021, 01:12 PM
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Quote:
Originally Posted by Unregistered
Many big 4 partners dont have 2m book, not even 1m
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LOL idk what you smoking, all the equity partners in my B4 corp department bill over 5m a year easy.
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28-06-2021, 02:28 PM
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Quote:
Originally Posted by Unregistered
LOL idk what you smoking, all the equity partners in my B4 corp department bill over 5m a year easy.
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ya lor talk cock. anything less sure kena kicked out long ago by other partners for slacking
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28-06-2021, 03:01 PM
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Quote:
Originally Posted by Unregistered
ya lor talk cock. anything less sure kena kicked out long ago by other partners for slacking
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Thats why. International law firms need 10 to 12m to even have a whiff at equity.
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28-06-2021, 03:02 PM
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Quote:
Originally Posted by Unregistered
ya lor talk cock. anything less sure kena kicked out long ago by other partners for slacking
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The equity spread for big law firms is very wide. The top partners with the most equity points make a lot more than the junior EPs. plus junior EPs need to make upfront contribution to buy in.
So even if they're billing a good $2M annually, they may be taking home less than an EP in a small firm in the initial years.
In smaller firms, EPs have more leverage to nego greater profit sharing proportion.
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28-06-2021, 03:20 PM
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The level of ignorance here really never fail to amaze me:
Big 4 partners $5-6M billing per head? You kidding who?
International law firm $10-12M billing per head? You kidding who?
Do you even have friends who are such partners?
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28-06-2021, 04:36 PM
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1 pg miti - $3,000, do 1/week
1 month - 4 weeks - 4 pg miti - $12,000
1 year - 12 months - $144,000
after kena tax - $112,320
tengah 5rm bto - $350,000
work for 3 years doing 1 miti plea a week can buy big2 space to habe secks liao
ur all trash, bow before the supremacy of the chinatown sole prop. who says crime doesnt pay
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28-06-2021, 04:47 PM
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Quote:
Originally Posted by Unregistered
1 pg miti - $3,000, do 1/week
1 month - 4 weeks - 4 pg miti - $12,000
1 year - 12 months - $144,000
after kena tax - $112,320
tengah 5rm bto - $350,000
work for 3 years doing 1 miti plea a week can buy big2 space to habe secks liao
ur all trash, bow before the supremacy of the chinatown sole prop. who says crime doesnt pay
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your Cs in English O levels definitely didnt...
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