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Yesterday 11:03 PM

Unregistered

Quote:

Originally Posted by Unregistered

Can’t be bothered to scroll back a few pages eh

I also say. Let me help. For NQ, the latest discussion started from page 2117. But really, this topic comes up so often one would think it’s common knowledge by now, insofar as big 4 is concerned.

For medium and boutique/chinatown, it really depends on how much you can bring in for the firm and consequently, the speed of promotion. I say it depends because for big 4, I am under the impression it is a pretty settled timescale from associate, senior associate, then from there see whether you can maintain your billings to make it to partner or …

For smaller firms, less competition, with a few good cases to get your bosses attention, you may be a big fish in a smaller pond

Yesterday 07:50 PM

Unregistered

Quote:

Originally Posted by Unregistered

Can we go back to the purpose of this forum which is to share about legal practice salaries?

What are the indicative salaries one can expect for NQ - 7PQE at Big 4, mid tier and boutique/Chinatown firms?

Can’t be bothered to scroll back a few pages eh

Yesterday 04:55 PM

Unregistered

27-05-2024 11:43 PM

Unregistered

Quote:

Originally Posted by Unregistered

Actually do they pay well over long term? Am hoping to spend more time with family and wife

To add.. it’s my personal view that because some of these firms may not be able to retain “talent” (loosely defined) that well, the route for average folks to “partner” track or to “head” a practice is much easier. Just have a browse at the representative cases of young equity partners in some of these firms and make your own judgment.

27-05-2024 11:36 PM

Unregistered

Quote:

Originally Posted by Unregistered

Actually do they pay well over long term? Am hoping to spend more time with family and wife

It really depends (obviously) how you define “pay well”. Over long term, and as the age factor creeps in, stability of a lower pay check may prevail over a higher pay role that will be at risk once you can’t bill enough or there is a cheaper competitor that performs as well.

As barriers to entry to set up one’s own firm is arguably low, question is whether you can generate your own pool of clients or require your firm to feed you. Some firms generate new clients through advertising budget, some have their own niche pool within the community.

If you’re going into small firm, best if you are a generalist so you can then join a full services firm and take on whatever case comes your way. I won’t advise certain sectors where the pie is already shrinking and doesn’t pay that well in the first place, or where it is not easy to detach from your client after the end of a long day. Haha. Leave you to find your own sweet spot!

27-05-2024 11:12 PM

Unregistered

Quote:

Originally Posted by Unregistered

People from "chinatown firms" make some of the biggest differences in people's lives. Do not look down on them.

Actually do they pay well over long term? Am hoping to spend more time with family and wife

27-05-2024 11:10 PM

Unregistered

Quote:

Originally Posted by Unregistered

Soft flex from chinatown firm owner, don't need to record time, the unlucky fella who walked through the door will pay. It's not like they'll lawsoc you for overcharging or anything, right?

Just scrolling through and saw this exchange, whoever you are, you seem to have taken this very personally lol

27-05-2024 10:10 PM

Unregistered

People from "chinatown firms" make some of the biggest differences in people's lives. Do not look down on them.

27-05-2024 07:33 PM

Unregistered

Quote:

Originally Posted by Unregistered

How do you record your time at your offshore firm for making a post like this? Under "Business Development" or "Admin" as an unbillable?

Not the OP. This would be unbillable as it is decompression from the intensity of legal work

What’s with the upturned nose at Chinatown firms though. Is the term synonymous with all small firms, as not all are located at Chinatown. One can’t deny that “Chinatown firms” have a role to play in keeping legal costs affordable for individuals whose legal cases don’t involve very specialised knowledge, where big firms are conflicted etc.

And with the rise and ebb of a legal career’s trajectory, if one looks at the composition of some “Chinatown firms”, one may also find alumni from bigger firms who opt for the quieter life that doesn’t require too much BD. Don’t look down on the “Chinatown firm” as it may present a career option one day!

27-05-2024 06:37 PM

Unregistered

Quote:

Originally Posted by Unregistered

How do you record your time at your offshore firm for making a post like this? Under "Business Development" or "Admin" as an unbillable?

Soft flex from chinatown firm owner, don't need to record time, the unlucky fella who walked through the door will pay. It's not like they'll lawsoc you for overcharging or anything, right?

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