Business Degrees Not In Demand Anymore
April 19th, 2009
The mainstream media is apparently telling us that business degrees are no longer in demand. We are told a law degree can command a salary as high as $8,500 while arts and science courses are getting popular now.
On the front page of yesterday’s Business Times printed edition:
“Trainee lawyer bags $8,500 monthly pay
Foreign law firm pays record starting salary to NUS grad
LAW firms may be trimming costs and easing up on new hires, but a freshly minted young lawyer has just snared a record starting salary. She starts her working life on a pay of $8,500 a month.” (article is now available online)
Also on front page of today’s Sunday Times printed edition:
“Business degrees lose their attraction
Varsity applicants opt for science & arts as they scan the job scene down the road
The eye-popping six-figure salaries that banks were throwing at freshly minted graduates in recent years made business faculties the first choice for many university applicants… But the recession has provided a reality check this year… There is a shift away from business to courses such as arts and social sciences, which offer surer job prospects in teaching and the civil service.”
Before students flock to these other arts and science degree courses, maybe they should take a loot at our Dumping Ground rankings, which we derived from – guess-what – the graduate employment surveys from NUS, NTU and SMU.
I am confused about MO, registrar, specialist/consultant. I read the...
grads to do blue collar jobs Says:
April 20th, 2009 at 12:10 am
At a dialogue session with Gan Kim Yong, a participant asked: “As a fresh grad, do I really have to accept a blue-collar job? And if so, will it affect my application for PMET position after the crisis?”
Gan’s answer suggests grads should take up blue collar jobs.
Read at http://www.channelnewsasia.com/stories/singaporelocalnews…1/.html
tom Says:
April 20th, 2009 at 8:23 pm
the 8.5k is clearly a one-off in this kind of market. the top 4 local law firms are only offering 4k now. even less at smaller law firms. and with the influx from the graduating batch of smu law students, expect salaries to be even more depressed.
the demand just isn’t there now… not only for business grads.
harry Says:
April 20th, 2009 at 9:31 pm
tom, 4k is still a lot for the hundreds of jobless biz grads waiting to become blue collar workers.
SGDividends Says:
April 20th, 2009 at 10:37 pm
That law firm that gave $8.5 K is kinda illogical.
Firstly, if it is true that top law firms are giving 4K…then its really ridiculous that a firm will pay more than twice …
Unless this girl is really special and twice as efficient as those hired by the top 4 law firms.
Sorry speaking from a return on investment view point
Lawyer Says:
April 21st, 2009 at 1:51 pm
The 4k is only for those that are retained. There is a significant increase in law grads not retained after their pupillage this year.
A good man Says:
April 21st, 2009 at 5:47 pm
Gan Kim Yong is good man. He gave up his dream job – teaching & become minister.
SGDividends Says:
April 21st, 2009 at 6:15 pm
Hi Lawyer,
Significant increase in law grads not retained after their pupillage?
Does this mean they are sort of fired? Where do they go?
SGDividends
you goon Says:
April 21st, 2009 at 10:59 pm
good man, you goon. he’s an oms scholar who went to cambridge, became an elite ‘AO’ civil servant upon graduation, and went on smooth sailingly to be natsteel ceo before joining politics. the teacher guy is another senior-level minister, you goon.
Kay Says:
April 23rd, 2009 at 3:40 pm
Despite of what the mainstream media is saying, it is still worthwhile to take business degrees. The current downturn is affecting all sectors including the financial sectors. By the time you completed your business degree, the economy would have recovered by then. Singapore is a financial hub in this region and I don’t see why business degrees are a lousy bet.
still in banking Says:
April 23rd, 2009 at 5:09 pm
shh…
banking2 Says:
April 24th, 2009 at 8:26 am
still in banking too. unfortunately for some (i estimate abt 10%), they have been retrenched. so if u have the stomach for this risk of being laid off (rather low in my opinion), banking is still a very attractive sector. it pays much better compared to other sectors for such a ‘risk’ u take on. but it’s hard to get in at this pt in time as banks are simply not hiring or are hiring very selectively. i pity the freshies cos once u start off in another sector, it’s harder later to switch- u’d then be competing with other pple like u as well as other freshies then. i know, cos i managed to switch years ago, just barely.
still in banking Says:
April 24th, 2009 at 9:13 am
shhhhhhh!
no longer in banking Says:
April 24th, 2009 at 10:33 am
banking sucks…i got out recently and i am now earning more and enjoying my work more in another industry
low cost-low tech Says:
April 24th, 2009 at 1:30 pm
can we know which banking co were u in ?
no longer in banking Says:
April 24th, 2009 at 2:14 pm
goldman sachs
Jimmy Lim Says:
April 24th, 2009 at 3:13 pm
I agree that it is not wise to conclude business degree is not good from what is said in Sunday Times.
Eventually, things learned in Arts courses like some European Studies(or whatever regions studies), Political Science are less useful both in job and in life compared to Business Studies.
If I am entering uni now, I would definitely prefer Business to arts and social sciences.
First is that both can become a teacher or work in government stat board as these 2 career options don’t need a specialized degree, just any good honors degree.
Second is that you will more useful things in Business Studies.
Third is that if you can make it into the lucrative banking and finance sector as a fresh graduate and work there for some years before being retrenched. I don’t see why MOE won’t employed you as a teacher. Bear in mind that MOE also got recruit mid-career entry.
I already sort of known the smell of our government and the type of news being reported in local media.
After a few years of encouraging own citizens in business/entrepreneurship (after life science trend), together with phenomenon created by Rich Dad Poor Dad, you can see that top A level students flocking to business studies in NUS/NTU/SMU, then no one wants to study engineering and it become a dumping ground.(No matter what the trend is, Medicine and Lawyer courses still got high demand).
Now the government wants to simulate demand for other courses, that’s why you see Mediacorp got a drama encouraging engineering.(P.S. Mediacorp seems to be acting as a agent for spreading government messages, with the IR nearly completed, I foresee that there will be more dramas encouraging us not to gamble, by now, already got more than 2 dramas before with anti-gambling messages already)
Before deciding on your courses, take into considerations your interest or at least what you confirm dislikes, rather than flocking to this or that based on the trends that the government created/mainstream media.
Remember the life science trend lesson.
low cost-low tech Says:
April 24th, 2009 at 4:23 pm
you are not one of those who lost billions at work & earn billions in bonus ??
no longer in banking Says:
April 24th, 2009 at 4:30 pm
of course not…if i am…i dont think i will be here talking to you
banking2 Says:
April 24th, 2009 at 10:27 pm
having gs on ur resume is definitely a gd thing. r u in mgmt consulting now? care to share why u left gs and how u got into another industry? thanks in advance for sharing.
no longer in banking Says:
April 25th, 2009 at 1:36 pm
left GS because i got a better offer elsewhere….though i can definitely make alot more in future if i stay in GS…i think the life out of GS is definitely more enjoyable…good money doesnt always guarantee you a better life…i rather make a little lesser to have a more balanced and enjoyable lifestyle
no longer in banking Says:
April 25th, 2009 at 3:39 pm
people always say that they dont mind working long hours if they are paid well (esp in banking)…but when they are in it for a few years…they will dread it and look for their way out…its common especially in the IB environment
no longer in banking Says:
April 25th, 2009 at 3:43 pm
when i was still in GS..i was earning more than most others in other industries and i was driving a Audi TT…but so what? i dont even get the chance to flaunt my car or $ as i will usually either be working in office or recuperating (after a long busy week or day) at home
banking2 Says:
April 25th, 2009 at 9:41 pm
some work long hours but some don’t. i bet there are those around you in gs that don’t work long hours and yet get fat paychecks and enjoy life. the lucky ones. i’m one of them, but not in a ib setting. not getting ib comp but high enough to be in the Audi TT league.
so care to reveal – no need specifics – where u r working now? what pays as well as ib? mgmt consulting or administrative service? oil & gas?
no longer in banking Says:
April 27th, 2009 at 9:40 pm
banking2, of course there are people who work shorter hours and yet earn a fat paycheck but what i am saying is the general people in GS. Obviously i know you are trying very hard to tell all of us that you work short hours and yet you are getting a fat pay check. Dont worry, i am sure everyone here got your hint. Well i have no idea what is your definition of “fat” paycheck as it differs from one person to another. To my ex-boss, 2-5mil/year is considered a fat pay check but to me, 500k/year and above is “fat” enough. There will always be someone who is earning more than you and there will always be someone who is earning less so i guess this is very subjective and i believe that we should not be too full of ourselves even though we might be doing well. It is not important to reveal my current industry. Like what i have said previously, i might be getting less $ now but i fully enjoy it.
adiemuso Says:
April 28th, 2009 at 10:08 am
its all relative, dun get too upset over it. as long as your lifestyle is manageable and comfortable be contented.
I do noe of folks in SG who earn less than 500 per mth and the folks who can afford to bum around and yet gets millions a year.
so…?
Curious Says:
April 28th, 2009 at 11:09 am
No longer in banking, would you know how much does someone from product origination side (not investment banking) typically earn in an international bank after 4 to 5 years? Would they earn more than investment banking people? What’s the career progression for such guys?
Walid Says:
May 13th, 2009 at 10:40 pm
Science jobs do not pay well. I have a PhD and pay is only $4.8k per month AFTER 4 YEARS EXPERIENCE.
Prof Says:
May 14th, 2009 at 10:27 am
Try to become a professor. The pay is somewhat better.
shu shu Says:
February 19th, 2010 at 12:38 pm
Just wondering why so many ‘A’ level / Poly students want to take Local University courses at FASS & Business?
It seems to be a trend for especially straight A scorers! Have Singaporeans gone soft & want only easy options? Shouldn’t straingt ‘A’s scorers be taking challenging courses like medicine, law, sciences & even engineering? Instead of all flocking to Business & the Arts courses…
It is pretty hard to fathom why so many people these days just want to take the softer options…Is there really a great future ahead for FASS & Business graduates? are there really so many CEO & CFO positions awaiting these grads?
Normal Says:
February 21st, 2010 at 9:31 am
To shu shu: I think there’s a song for it called it’s a materialistic world. There is also this thing called supply and demand. Eventually supply is going to be so plentiful such that compensation in the other industry will be comparatively more attractive and people will go there again.
Shu Shu Says:
February 22nd, 2010 at 2:49 pm
Biomedical Hub should be getting hype soon as the govt is pumping in millions of dollars to build another building in Biopolis. Also, recently a spokesman for USA has indicated US interest in the Biomedical industry in S’pore.
errrr Says:
February 22nd, 2010 at 4:50 pm
errr… biomed is so last decade. even the dynamic philip yeo has stepped down and moved on to do non-biomed things like helping the SMEs.
Shu Shu Says:
February 22nd, 2010 at 4:59 pm
Then which is the right discipline to be in for a stable & brighter future?
errrr Says:
February 22nd, 2010 at 5:44 pm
civil service.
Normal Says:
February 22nd, 2010 at 6:45 pm
Agreed, only government jobs will be safe for the coming decade.
Shu Shu Says:
February 23rd, 2010 at 9:03 am
Which field of university study is suitable OR RECOMMENDED for govenment jobs?
errrr Says:
February 23rd, 2010 at 9:12 am
it does not matter. if you just want to play safe, go to http://www.cabinet.gov.sg and look through the bio of the ministers. you’ll be surprised that many of them have engineering degrees!
Shu Shu Says:
February 23rd, 2010 at 11:45 am
Life science in fact is a growing necessity of the future to help the human race to improve quality of living. It is popular and has great demand in advanced countries like USA, Japan and Australia. Perhaps the government should try to make a concerted attempt to uplift this industry again. Biomedical industry is in reality a very important industry to concentrate on if Singapore is to catch up with the developed worlds.
chill Says:
February 23rd, 2010 at 1:45 pm
it is quite obvious that the government has quietly given up on life sciences, if you have not yet noticed.
see also another article on this site:
what happened to life sciences
read the comments there as well.
chill Says:
February 23rd, 2010 at 1:51 pm
and read all the comments about the life sciences industry in this forum topic too:
What happened to Life Sciences? – Salary.sg Forums
one girl said many life sciences graduates are now doing sales, insurance or working in other totally unrelated industries. sad.
Shu Shu Says:
February 23rd, 2010 at 5:16 pm
Shouldn’t the govt & universities do their annual survey on job market demands before deciding on opening the number of university places for the respective course. This way, the unis will not be overproducing too many grads in those fields which are not so in demand, so as not to generate a glut in those industries. Otherwise this could cause disllusionment for jobless grads.
chill Says:
February 23rd, 2010 at 5:35 pm
great question. pls ask your MP, or write to ST.
Kevin Says:
February 23rd, 2010 at 5:55 pm
It’s not realistic. There’s a 3-4 year lag time from enrollment to graduation. By then what’s hot may have cooled off.
The university is suppose to teach you only one thing, the capability to process knowledge for analysis and life-time learning.
Most of the jobs available in the next 20 years would not have been conceived at this point in time.
chill Says:
February 23rd, 2010 at 5:59 pm
then they should not have so many departments / faculties in uni. simply teach “capability to process knowledge for analysis and life-time learning” and their job is done.
Normal Says:
February 23rd, 2010 at 7:35 pm
In my opinion, universities are only good in teaching science disciplines and by that I mean real science like Physics, etc not social “science”, econ or business.
I somehow agree with Kevin’s opinion, but there’s a better teacher that will teach those kinds of skills it’s called Slumdog Millionaire or life. If you are too daft to reflect on your life experiences, nothing will save you.
The fact is university degrees are really necessary nowadays to put you in equal standing with everybody else. Since everybody else has one, you need one too so that you don’t stand out awkwardly. Outstanding people will be successful whether they attend a university or not and there are just too many examples of that.
comment Says:
February 25th, 2010 at 9:14 am
>Shouldn’t the govt & universities do their annual survey on job market demands
they will say it is hard to predict the job market. but when it is time to justify their huge salaries, they will say they have done a good job. one of them even hint that he can control the price of oil! isn’t it amazing?
whygovtagain? Says:
February 25th, 2010 at 12:11 pm
Why is this the government’s problem again? caveat emptor kids.
comment Says:
February 25th, 2010 at 1:57 pm
cos we pay them the highest salaries in the world. we expect them to solve ALL problems.
Kevin Says:
February 25th, 2010 at 8:57 pm
Chill: Didn’t you realize at the end of higher learning, everyone ends up with the same degree, Doctor of Philosophy, PhD?
But there’s more than one way to skin a cat, so you have different faculties and disciplines.
Future Researcher Says:
February 26th, 2010 at 10:59 pm
Go for Health Science in Research.
It’s the NEXT BIG THING.
Kevin Says:
February 27th, 2010 at 10:53 am
In pharmaceuticals, the big thing these days is pharmacoeconomics but it’s hard to get a job in Singapore studying it. There is no entry-level position. That’s why for the experienced hire, we have to hire “foreign talent”.
I am still waiting for my job to be the next big thing…maybe another 10-15 years!
Tonnes of specialized jobs around with literally a supply of 1 opening in Singapore.
truth Says:
February 28th, 2010 at 7:23 pm
Life sciences in Singapore didn’t take off for the most part because Singapore universities cannot make it.
truth Says:
February 28th, 2010 at 7:32 pm
Ask any lawyer in Singapore and you will know the truth about the supposed inflated starting salary of the local law grad.
The truth is, law grads can only ask for or aspire towards starting salary of this bracket in a foreign law firm. These firms, which have increased their presence since the liberalisation of the law sector here, pay out supposedly high starting salaries, because they pay in the currency of where the firm is based, and a large number of the firms here are British.
Since the average starting pay of a law grad here is $3.8k (about the same as a farmer local grad sign on officer in SAF), multiply that by say, 13, (let me give them the annual wage supplement), the typical annual starting salary of an entry level law grad is $49,400. Multiply that by pounds at the current exchange rate and you get about $110,000 a year, which works out to be about $9k a month.
Now if you think that sounds great, that is only because you only know half the story.
Local hires in foreign law firms, will never make partner. This is a fact. This is because, the firms only make the foreigners partners. in fact when they set up their office here, the partners are already in place and are from the home country.
In short, the starting salaries of law grads in these foreign firms sound great only because they are expected to stay as a grunt forever, and have effectively maxed out their careers at the start, by saying “Ok, I will take this pay right now, because this will be the pay I will likely get ON AVERAGE, when I make partner in a local firm, and I am hereby waiving my aspirations and hopes to ever make partner and I will do grunt work forever from now on.”
It’s also no big deal to make partner in a local firm. On average, 1 in 2 associates eventually make partner. Which is why the salary is nothing to shout about (about $100k lor, very good meh)
It is making Senior Counsel that is at least somewhat of a bigger deal.
Every bit of this is undisputed fact. Ask any lawyer you know in the big 4 to tell you and they’ll repeat the same exact thing to you.
not lawyer Says:
February 28th, 2010 at 8:54 pm
ain’t it good to get average local partner pay right at the start? and still get a chance to hop to a local firm later when you tire of grunt work, and get a not-improbable shot at being SC one day.
all said, i’d rather be a well paid grunt any day than a lowly paid nobody.
count your blessings.
lawyer Says:
February 28th, 2010 at 11:09 pm
The set-up of a foreign firm, which normally only have a few staff here, and homegrown ones, by that i mean big ones and not the small mom and pop law firms here, which number in the hundreds, are vastly different. Lawyers with only experience outside of the big 4 will not stand a chance to become a partner in a big 4 firm later, since there are plenty of associates in the big 4 who have been there. You think everyone is so dumb and never thought of this? You can’t have your cake and eat it too. If you can think of this, so can others. So of course the system is not exploitable on this respect.
Speaking of the law scene and what other people know, one thing for sure Straits Times journalists are idiots. I remember one reporter Amelia Tan who once wrote about Vincent Leow, a mere senior associate and called him a top lawyer. He was not only not a Senior Counsel, but not even a lowly partner. ST is indeed staffed by retards, as what people say. Maybe it’s just the state of journalism in Singapore in general and the kind of people that industry hires. I wonder where they find these idiots from. NUS?
lawyer Says:
February 28th, 2010 at 11:12 pm
And one is not considered “well-paid” when that is the end point of your career and the highest you’ll ever be paid for the rest of your life. Get it? Simple logic.
shu shu Says:
March 1st, 2010 at 9:03 am
What are the demands for Bioengineering grads?
bspostsabove Says:
March 1st, 2010 at 4:21 pm
What absolute nonsense from the posts above. The average starting pay of a law grad is $3.8k? Wtf are you smoking? Do you even have a clue?
Partners make $100k p.a.?
Eh, we are not talking about one man law firms when we refer to partner. Ok? Stop spreading misinformation.
So Says:
March 1st, 2010 at 6:05 pm
So, if the above are bs, are you saying the figures are too high or too low?
bspostsabove Says:
March 1st, 2010 at 7:09 pm
Way too low. Try 10-20k for the partners at the bigger firms. I mean those who just got made partner. Obviously, there’s a range. I’m excluding bonus.
10k after 6 years is a pretty gd benchmark. Some earn more, while others will be at 8-9k then.
The senior partners earn in the millions.
All of this is fact, not some bs the fella above claims to be privy to. And obviously doesn’t apply to you if you come from a two man firm and call yourself the MD.
3.8k. And call yourself truth somemore.
truth Says:
March 1st, 2010 at 8:38 pm
Can you see what this bullshitter is trying to do? Look at his stupid range of 10k to 20k, the latter number is DOUBLE of the former number. ABOUT $100k is NOT THAT FAR OFF from $10k a month. That’s like saying I make $5k-$100k a month as a partner in a two-man firm when I make $5k. Or why don’t you sayu you make between $6k to $200k a month?
Don’t talk so much and go and ask what the law firms pay their freshly graduated slaves and grunts and ask them if they get any thing or much more than a pathetic $3.8k shitty, farmer in SAF aka local uni sign on pay hahaha. And go check out post #2 and #5 on this page!! That’s your reality. And please we’re not talking about the odd guy or dean’s list or Cambridge grad, but the average starting salary of your typical farmer grunt.
And if there were any real lawyers here, which I highly doubted the first time I chanced upon this page, they would have immediately known about how that law grad supposedly could get a $8.5k offer starting salary in a FOREIGN firm, know that its because they are paid in pounds, and know that they freaking can’t make partner!
What a bunch of idiots.
$10k after 6 years is pathetic when I was making double that first day out of my Ivy League school. Even my civil servant friends make that 3 years after school, half the time. Slow coach.
truth Says:
March 1st, 2010 at 8:41 pm
About 100K per annum, what I said about those PARTNERS *big whoop* is NOT THAT FAR OFF from his bullshit range of 10k-20k per month. When you see through his bullshit wide range. Divide $100K by 12 and see what you get. Another thing loser. Go and ask what is the average pay of a normal law grad grunt lah. Come back and spit it out here rather than dodging here and there.
I noticed you did not dare to spell out what you think is the “salary” of a law grad grunt in a local firm.
bspostsabove Says:
March 1st, 2010 at 8:49 pm
Yes, because abilities range you fool. Hence, the wide gap. And no, its far off from $100k when you factor in bonus, which can range from 6-10 months. So on a per annum basis your maths is way off. Try to take a deep breath before you implode on your own stupidity.
As I have already told you, you dumb peasant, they do not get $3.8k. None of the firms pay $3.8k to their starting associates. Dean’s list or Cambridge grads make no difference to starting salaries at any of the firms, local or foreign, you dumb peasant.
Highly doubt, not doubted, you dumb peasant. As for the person getting $8.5k, she went to Ince & Co and was paid 8.5k sgd after her pupillage ended at one of the big 4, not pounds dumbass.
You’re the only idiot here because I happen to be a practising lawyer. The salaries have been revised since #2 and #5 posted you fool. Get with the times.
truth Says:
March 1st, 2010 at 8:50 pm
Quotes of the Bullshitter
“Try 10-20k for the partners ”
First, check out his huge range of 10k-20k. LOL. When its really only the small number you should not disregard..check out his fake hurt reaction to my 100k per annum..divide 100k by 12 and see how far off it is from the base of his super wide fako range. For further proof why it’s fake..lets go on to…
Later on, he decides to cover his tracks after faking with the super wide range, by adding a disclaimer, which is actually a revelation of the truth..
“10k after 6 years is a pretty gd benchmark. Some earn more, WHILE OTHERS WILL BE 8-9K by then”
He later adds that 10k is the benchmark, like what I mentioned earlier, about my per annum estimation as well as looking at the base figure of his super fake and wide range. And then he further disclaims..lowering the figure further!! by 2k to 8k!! Isn’t 100k a year $8k a month?! Doofus. Must be a farmer law grad who could never have made it to Oxford.
truth Says:
March 1st, 2010 at 9:07 pm
You’re disputing with extreme hurt and agitation $100k per annum, which you yourself admitted to, in your own post, because you say you factored in bonuses, in the same post to which you now say caused the big range? Hahahahaha
If you really intended to see your bonuses as a bona fide part of your annual package, then why did you not do so when you were talking through your arse in #60?
Rather than talk through your ass here, tell everyone what is the basic salary of a grunt lawyer now since the adjustment from post #2 and post #5.
Going by the way you believe your salary is so much more than what it is, based on your unique way of “communication”, I’d have to readjust all the salaries of myself when I was in banking, that of my friends, that I stated.
Not all grunts make get the same starting salaries.
To cut a long story short, in #60, you have made your point clear “10k after 6 years is a pretty gd benchmark. Some earn more, while others will be at 8-9k then.”
Is $100k a year NOT $8k a month?! Yes or no? YES OR NO? Simple question. $100k a month after 6 years at 32 years old.. is just PATHETIC!! Male local grad after NS leaves school at 25, finishes pupilage at 26. What’s 6 years after 26? Just pathetic. Don’t know how you can have the shame to sound so pompous and full of yourself when you are practically a minimal wage earner compared to traders and property agents. You know you earn peanuts when even those on state payroll makes the same as you in half the time.
truth Says:
March 1st, 2010 at 9:08 pm
$100k a YEAR (not month) after 6 years at 32 years old.. is just PATHETIC!! I apologise for my typo. No disclaimer needed for me. =)
no diff Says:
March 1st, 2010 at 11:29 pm
The conversion from pound is not meant to be literal and still stands. The person is paid in SGD, but her salary is only that figure because it’s derived from a foreign currency, pegged at the standard rate of a fresh lawyer except that it was converted from pounds. Ince and Co. IS a British firm. This is in line with how the figure came from a foreign firm, as said in the article. If the practising lawyer is what he/she claims, he/she will know that it’s well known that lawyers with experience in foreign firms will never make partner.
bspostsabove Says:
March 1st, 2010 at 11:34 pm
6 years is the benchmark because lawyers make partner in 7 on average. The payoff occurs then, you peasant, not at the start.
I don’t believe anything about you, you fool. I’m a lawyer and that’s what everyone in the industry gets, give or take. Lawyers working for six years don’t get 100k a year when you factor in bonus, in fact its closer to 150-200k a year you dumb peasant. Its the market rate for people with that level of PQE.
And like I told your dumb ass (which assumed I studied locally in the first place), it makes no difference to your starting salary where you graduated from, its completely firm dependent.
Good to know I earn peanuts at 32 (nice assumption about my age). I didn’t come here to boast about my salary, merely to clear up the lies you were spreading. Your leaps in logic however, make you a poor opponent to argue with. Your lack of knowledge on the other hand, is laughable.
jack Says:
March 1st, 2010 at 11:34 pm
truth: i’m probably not the only one irked by your complete lack of humility. so let me say this: no big deal that u graduated from an ivy. sg produces loads of straight-a students every year. 3/4 of raffles and hwachong could’ve made it to an ivy if they had the money to.
fact is, u are just a worker. which is why u would merely be middle class all your life. this makes u very little different from most lawyers. and many lawyers who have their own firms will earn more than you.
that said, self worth is not measured by net worth. maybe an ivy league education should’ve taught u better. many lawyers in sg stay in sg despite the more lucrative opportunities elsewhere, like hong kong, where salaries are triple. clearly, money is far from the only consideration of a career.
Kevin Says:
March 2nd, 2010 at 9:46 am
There are relatively low ranking ivy leagues like Penn, and Dartmouth.
And Stanford, Berkeley, U of Michigan aren’t ivy leagues but has equally reputable law faculty.
Of course, the big ones are Harvard, Princeton and Yale.
summariser Says:
March 2nd, 2010 at 11:44 am
so erm,
how much do junior partners in local firms make?
from what i gather:
1. 100k base (ie 8.3k per mth)
2. around 6 months bonus: extra 50k
3. total package per yr: 150k
4. profit sharing senior partners and SCs make lots lots more.
correct?
legalhr Says:
March 2nd, 2010 at 1:33 pm
a lawyer at a big local firm with 4 years of experience should be getting around 110k-180k p.a., including bonuses and of course, depending on performance.
lawyers at a foreign law firm will be getting more. much have been said about partnership prospects at these firms, without taking into account that some foreign law practices are now able to practice sg law, when previously this was not possible without a joint venture with a local firm. with the rule change, partnership prospects should change as well.
as for partners, i’m not privy. but equity partners earn millions.
comparing income between occupations, you would have to take into account their respective median wages and progression. i doubt that the average property agent or trader earns more than the average lawyer, and certainly the career path for lawyers is much more predictable.
legalhr Says:
March 2nd, 2010 at 1:51 pm
in terms of local legal industry, qualifications are very competitive. if u can’t get into/cannot afford oxbridge, the next best bet is nus. ucl and lse are alright; don’t consider the rest unless no choice.
qualifications from u.s. are more rare, since it’s a graduate program over there. but if you are going for a graduate law degree, nothing less than yale, harvard, stanford, and possibly, columbia, will do.
shu shu Says:
March 2nd, 2010 at 3:55 pm
For each primary one cohort of students, what respective percentages of those who went through Junior College or Polytechnic, were able to enter the 3 local universities i.e. NUS, NTU, SMU. Any statistics?
2ndyrassociate Says:
March 4th, 2010 at 12:19 am
truth you are a retard..
bspostsabove Says:
March 5th, 2010 at 1:44 pm
That fool is smart enough not to reply anymore. Why do you entertain him legalhr..I would have preferred if he continued making himself look like an idiot.
shu shu Says:
March 8th, 2010 at 9:39 am
Is Business degree the most versatile of all the degrees available today? Prospects are great, right?
Vote for SGP instead of SIN for Singapore Says:
March 10th, 2010 at 12:47 am
@Shu Shu:
Not exactly. A double degree of science + business/management/economics will still be the most versatile, simply due to employers knowing that entry requirements are stringent in double-degree courses.
In fact, even for non-double degree students, they can still opt for a minor in business =)
However, if we discuss about ‘prospects’ issue, it can go on endlessly. In fact, you should choose a degree course that will strengthen to your strength(s).
From employers’ point of view, academic results alone do not depict one’s true worth. Characters play a big part in recruitment process too. Things that define characters are extra-curricular activities, leadership positions, voluntary experiences, exchange experiences, etc.
Best of luck!