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Yesterday 11:35 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Hasn't increased last I checked - 7.5k nq, 1k increment for each year for first 3 years. They are underpaying so much I heard many left/lateralled into other int firms.
It has increased to between 10k and 11k for 2PQE (so it goes 7.5k NQ, 8.5k 1PQE, 10-11k 2PQE, etc). Considerably more than Big 4 but considerably less than other int'l firms.
Yesterday 09:32 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
can anyone provide the latest figures for NQ/1/2PQE at bakers? Is it still considerably higher than B4?
Hasn't increased last I checked - 7.5k nq, 1k increment for each year for first 3 years. They are underpaying so much I heard many left/lateralled into other int firms.
28-03-2020 01:37 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Damn. I just tendered my notice recently at a small firm to join a big firm. These posts about assocs being let go during recession are making me worried about my job security. gg man
Not only you.
A lot of people tendered in Jan/Feb and serving out their 3-month notices. Who would have known the coronavirus would become a pandemic?
Guess, just be prepared that youíll be let go during the probation period.
If the firm is nice they will say things like the economy not so good.
If they are not as kind, they will tell you your performance is poor.
The latter comment can be extremely detrimental to your mental health.
28-03-2020 01:30 PM
Unregistered Damn. I just tendered my notice recently at a small firm to join a big firm. These posts about assocs being let go during recession are making me worried about my job security. gg man
28-03-2020 11:02 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Any idea what's the sentiment on the ground in terms of private practice market? (local law firms)

that's the thing about our sh*ty immature/underdeveloped legal market. there's hardly any market intelligence or legal news sites like in London or HK. Need to rely on word of mouth

are there firms where junior and mid-level assocs are in danger of being let go?
IMF already said the world is in a global recession and this is expected to be worse than 2008-9 GFC. Iíll be worried if I were going to qualify in August this year. 720+ new lawyers.
In a good market, our economy (incl international firms in Sg) can absorb about 400.
Now with this, maybe down to 50-100?
28-03-2020 12:19 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
This is unprecedented. Itíll be worse than GFC in magnitude.
As an employment lawyer, I can tell you that firms will use the probationary period to let newly hired associates go.
Thereís also standard clauses in employment contracts to say that the firm is not required to provide you any work.
Any idea what's the sentiment on the ground in terms of private practice market? (local law firms)

that's the thing about our sh*ty immature/underdeveloped legal market. there's hardly any market intelligence or legal news sites like in London or HK. Need to rely on word of mouth

are there firms where junior and mid-level assocs are in danger of being let go?
27-03-2020 06:18 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Not directly relevant, but Big4 TCs weren't too difficult to secure back in '08
What no one told you was how many of these TCs were converted to perm Assoc roles?
27-03-2020 05:32 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Is 100k pa all-in too much to ask to exit at 3PQE?
I can tell you that my last offer for an in-house role was 104k (13 mths) at pqe 4.... but that was also before the current shitty economy.
27-03-2020 04:18 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Hi OP - can you share more about what you have heard about the 2008 retrenchments, in particular the big 4 local firms?
Not directly relevant, but Big4 TCs weren't too difficult to secure back in '08
27-03-2020 11:58 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
The disputes folks are safe. They had so much disputes/rni work in my firm during the GFC that they had to start conscripting the corp folks (who had no work).
This is unprecedented. Itíll be worse than GFC in magnitude.
As an employment lawyer, I can tell you that firms will use the probationary period to let newly hired associates go.
Thereís also standard clauses in employment contracts to say that the firm is not required to provide you any work.
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