Lawyer Salary

Any rumours about mergers between local firms?

Originally Posted by Unregistered

that doesn't sound correct

are you a lawyer?

he's definitely wrong...

Originally Posted by Unregistered

when do assocs break $100k total comp?

(let's say year of call = Year 1)

By Year 3, you should be making more than 100k in the Big 4 (after counting bonuses).

Originally Posted by Unregistered

that doesn't sound correct

are you a lawyer?

He's probably in a non-big 4 firm

Is it true that the terms for TCs are now so bad, that most decent sized firms offer less than 2k allowance? Most firms don't even offer Part B allowance

Originally Posted by Unregistered

Is it true that the terms for TCs are now so bad, that most decent sized firms offer less than 2k allowance? Most firms don't even offer Part B allowance

Yes it's true. It's a demand and supply thing. I don't think firms are doing badly per se, but the fact is that they pay trainees less now just because they can, given the oversupply of graduates (i.e. if you're not willing to take up a TC in my firm for $1.5k p/m there's 20 other people waiting for your place, and good luck to you in finding another place)

But that being said, I think the Big 4 still retain their $2k p/m allowance.

So Year 3 monthly only 6250++ assuming 100k gross? Or is this inflated to 7500 with front load?

Lol lawyers earn waaaaay less than I thought.

Originally Posted by Unregistered

Yes it's true. It's a demand and supply thing. I don't think firms are doing badly per se, but the fact is that they pay trainees less now just because they can, given the oversupply of graduates (i.e. if you're not willing to take up a TC in my firm for $1.5k p/m there's 20 other people waiting for your place, and good luck to you in finding another place)

But that being said, I think the Big 4 still retain their $2k p/m allowance.

Yeap but if you are first class Honours, feel free to demand for a 2k allowance anyway

Originally Posted by Unregistered

Yeap but if you are first class Honours, feel free to demand for a 2k allowance anyway

Yeap, and at the same time ask for a bonus as well.

Seems like it's a tough time for those looking for a TC... First class honours got their pick because they are the rare breed anywayyyy.

how about those serving their TCs now? I guess most are more than halfway through the traineeship. Any latest news about retention "sentiments" or newly qualified lawyers offers??