Lawyer Salary

Originally Posted by Unregistered

You 8+ year still SA...loser la. My colleagues in Big 4 are aldy partners at 5th - 6th year

You know how much an 8+ year SA in white shoe makes?
Versus big 4 partner at 5-6 Pqe?

4-8x more gross all in

12,000 versus 60,000 per month.

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

Originally Posted by Unregistered

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

Welcome to the real world… beyond domestic market

Originally Posted by Unregistered

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

Lol don't be ignorant. An SA's hourly rate in a white shoe US firm is around 900 USD. Assuming they bill 2000 hours a year (the typical billing target for a white shoe firm), with a typical 85% realization rate, they are bringing in over USD 1.5 million a year. Paying them SGD 600k is peanuts next to what they are making for the firm.

Originally Posted by Unregistered

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

On one end complain local firms paying peanuts for how much they work you. On the other keep on gaslighting yourself saying there’s no way an SA or JP can be paid so much. sinkie mindset really cmi

Originally Posted by Unregistered

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

Lol frog in the well spotted. Go ask your peers working in international firms la, or a recruiter.

Even around half decade ago, even non-White shoe mid tier int'l firms like Norton Rose, Hogan Lovells were alr offering around $25-27K per month for ~6-7PQE senior assocs. Not keeping track since I went inhouse.

I can only imagine the numbers hv risen in the intervening years given the latest rounds of salary wars. And unlike our esteemed "prestigious" local firms doing "wAlL sTrEeT wOrK" like TSMP, Rodyk, R&T, international firms rarely if ever slash salaries during downturns (they simply fire assocs wholesale).

There's a reason why people here are obsessed international firms like they're the holy grail of pvt practice roles. Compared to the comp you can get as a junior partner in a local Big 4, the pay gulf is very real.,

Originally Posted by Unregistered

Lol frog in the well spotted. Go ask your peers working in international firms la, or a recruiter.

Even around half decade ago, even non-White shoe mid tier int'l firms like Norton Rose, Hogan Lovells were alr offering around $25-27K per month for ~6-7PQE senior assocs. Not keeping track since I went inhouse.

I can only imagine the numbers hv risen in the intervening years given the latest rounds of salary wars. And unlike our esteemed "prestigious" local firms doing "wAlL sTrEeT wOrK" like TSMP, Rodyk, R&T, international firms rarely if ever slash salaries during downturns (they simply fire assocs wholesale).

There's a reason why people here are obsessed international firms like they're the holy grail of pvt practice roles. Compared to the comp you can get as a junior partner in a local Big 4, the pay gulf is very real.,

Good, proceed,

Originally Posted by Unregistered

You know how much an 8+ year SA in white shoe makes?
Versus big 4 partner at 5-6 Pqe?

4-8x more gross all in

12,000 versus 60,000 per month.

Why need to earn so much? Issnt mental health more important? Already Big 4 so stressful , I can only imagine intl firms is worse?

And why local firms don't increase salary to match intl firms?

Originally Posted by Unregistered

How can a SA be making so much? $60k a mth? or you mean a year

That’s more than half a million a year.

Impossible for the SA to bill so much imo.

Also no clients will pay so much.

OK, I think S$600k is possible, but as always, needs context.

The Cravath scale ends at 8 PQE, at which assocs can expect US$415k + USD$115k in bonuses. So in theory an 8 PQE can make US$530k (or S$730k total).

But there are massive caveats:
-Not all US firms match the Cravath scale (especially bonuses)
-SG offices of US firms may pay a lower rate than their US HQ for various reasons (e.g. if the SG office is simply much less profitable)
-SG offices of US firms often cut PQE for Singapore laterals (this can be significant)

And then there is always the overhanging risk of you getting too senior (and expensive), and being shown the door if you cannot justify the high salary, of if it's simply more economical for the firm to hire a much cheaper junior to replace you. US firms are quite notorious for this, and especially with respect to their overseas offices. But yeah, you'll be massively well paid while it lasts.

Unhappy lawyers: what is stopping you from changing careers?

I'm in a similar position myself - I'm a lawyer and I want to change careers but I'm not sure what I want to do.

Can I ask what the reasons are for people wanting to leave but not choosing to?