Lawyer Salary

#**17161** (**permalink**) 29-06-2022, 11:11 AM

Quote:

Originally Posted by Unregistered

Please don’t belittle us. I have heard seniors making it into intl firms ( whithers, k&L gates, pinsent masons).

None of the Singapore offices of these mentioned firms are true international firms in terms of payscale if you understand the industry. Lol at spelling error too. They are in substance local firms with an international brand.

#**17162** (**permalink**) 29-06-2022, 12:09 PM

Quote:

Originally Posted by Unregistered

What are small firms paying their assocs these days? Is there any pay bump following the recent pay increases by B4?

hahahahaha.

Short answer is no.

I know a number of small firms looking for juniors and not being able to hire any due to difference in salary expectations and/or experience/qualification. Usually, they will just go without juniors and refer cases to their friends in the interim.

It does not make sense to pay higher salaries for juniors in a small firm.

What usually happens - and this has been explained quite a number of times already in this forum - is that you start off low and then from 3rd year onwards move to a profit-sharing model where you negotiate a cut of your files rather than a fixed salary. A lot of us make quite a decent living on this model.

For sure it can't beat big4 salaries, but i would say that there is not much difference as compared to peers in many mid-size firms which do not offer profit-sharing so early.

Downside is that you earn only as much as you are willing to work.
Upside is that you earn only as much as you are willing to work.

Contrary to popular belief, there is a lot of good quality work at this level/price-point. I've never experienced a situation where there wasn't enough work to go around.

#**17163** (**permalink**) 29-06-2022, 12:21 PM

Quote:

Originally Posted by Unregistered

Does anyone have any insight as to the new requirements to getting called? Will they revise the TC pay now that it’s a year long? Read the report and it’s suggests to firms that they should do so but just wondering how much they would be adjusting.

Also, apparently now you’ll be called upon passing Part B instead of upon completion of TC. Any seniors have any insights to this as well? TIA!

It's unlikely that TC pay will be revised.

#**17164** (**permalink**) 29-06-2022, 01:30 PM

Quote:

Originally Posted by Unregistered

Does anyone have any insight as to the new requirements to getting called? Will they revise the TC pay now that it’s a year long? Read the report and it’s suggests to firms that they should do so but just wondering how much they would be adjusting.

Also, apparently now you’ll be called upon passing Part B instead of upon completion of TC. Any seniors have any insights to this as well? TIA!

IMO the new requirements are just bollocks and a classic example of kicking the can down the road. Pointless knee jerk reaction to further control the supply.

It would be a cold day in hell before the cheap slave-driving small and mid firms increase TC pay if this is not mandated.

Some would in fact prefer to pay their trainees nothing if they could get away with it.

After all, a certain mid sized firm in particular had even gone on the record publicly back in 2017 to extol their act of offering traineeships at no pay, as a point of pride and public service - the tone-deafness was astounding and I don't see any reason why the less-than-exemplary prevailing culture in the small and mid tiers of the legal industry would have changed.

#**17165** (**permalink**) 29-06-2022, 05:15 PM

hello, JC2 student here looking into going into law.

what's the pay like for a fresh grad in big 4 now? and how about as a lawyer of 5 years' standing?

i've seen so many figures being thrown around without elaboration (5.xk, 7k etc) and its a little confusing. and i assume there is no bonus?

#**17166** (**permalink**) 29-06-2022, 06:19 PM

Quote:

Originally Posted by Unregistered

hello, JC2 student here looking into going into law.

what's the pay like for a fresh grad in big 4 now? and how about as a lawyer of 5 years' standing?

i've seen so many figures being thrown around without elaboration (5.xk, 7k etc) and its a little confusing. and i assume there is no bonus?

s://oliver-dev.s3.amazonaws.com/2022/05/17/09/00/05/1b2fd1cc-778e-4762-a829-ce6c6e1aa291/Taylor%20Root_SingaporeSEA_PrivatePractice%202022. pdf

#**17167** (**permalink**) 29-06-2022, 06:21 PM

Quote:

Originally Posted by Unregistered

hello, JC2 student here looking into going into law.

what's the pay like for a fresh grad in big 4 now? and how about as a lawyer of 5 years' standing?

i've seen so many figures being thrown around without elaboration (5.xk, 7k etc) and its a little confusing. and i assume there is no bonus?

s://.taylorroot.com.sg/singapore-private-practice-salary-report-2019-20