Lawyer Salary

Rumour is some firms made it clear they can't retain a significant number of trainees.

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

Why go for firms that take the chance to undercut you just cuz they can ?

Originally Posted by Unregistered

Why go for firms that take the chance to undercut you just cuz they can ?

Beggars cant be choosers

Originally Posted by Unregistered

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.

Decent mid-sized local firm you should be earning 7500 to 8500 with front load at 3PQE thereabouts. Big 4 fresh grad already 5800 to 6500 (including front load) for newly qualified.

International firms is a different story, but sorry i not so atas to be in there.

Dont expect too much lah. Lawyering has never been the highest paying industry. Go to finance if you want bank.

In fact, lawyers have always been paid average, accounting-like salaries until the boom years of the 1980s when salaries started to skyrocket because the top corporate law firms wanted their payscale to match their banking clients' payscales.

The market is merely correcting itself. At least law firms don't retrench hundreds in one fell swoop. Be thankful for that.

How much do international firms pay our local grads tho? Why would there be pay disparity even within the same industry?

Any professionals can clarify if lawyering is a sunset industry?
Heard of supply glut and the increasing move towards arbitration which means less litigation, less $$ for the firms.

Originally Posted by Unregistered

How much do international firms pay our local grads tho? Why would there be pay disparity even within the same industry?

What a funny question. It's the same as asking why JP Morgan, Goldman Sachs etc pay more than OCBC or DBS.

Lawyers in local firms are run of the mill, they are nothing compared to those in international firms. When you tell people you are an investment banker in JP Morgan, obviously you are paid far more and are much more respected than if you were in DBS (even front office).

Originally Posted by Unregistered

How much do international firms pay our local grads tho? Why would there be pay disparity even within the same industry?

The same reason why Google pays their employees more than NCS Pte Ltd (no offense to NCS)

Originally Posted by Unregistered

What a funny question. It's the same as asking why JP Morgan, Goldman Sachs etc pay more than OCBC or DBS.

Lawyers in local firms are run of the mill, they are nothing compared to those in international firms. When you tell people you are an investment banker in JP Morgan, obviously you are paid far more and are much more respected than if you were in DBS (even front office).

Oh so how do you get entry into these foreign firms? I guess the big 4 is such a big thing in the legal industry that many newbies don't consider other options.

Also, would anyone care to share the salary scale of a lawyer/trainee in foreign firms?

Originally Posted by Unregistered

The same reason why Google pays their employees more than NCS Pte Ltd (no offense to NCS)

Actually, Google Singapore pays poorly for an MNC in Singapore. No joke.