Among the leading law firms in Singapore, Allen & Gledhill LLP stands tall as one of the Big 4 firms, renowned for its exceptional work in Banking and Finance, Debt and Equity Capital Markets, M&A, Dispute Resolution, and Taxation. In this article, we will delve into the salary bands, work-life balance, and nature of work at Allen & Gledhill LLP.
Salary Bands
In our mission to promote industry transparency, we provide the following insights into the salary structure at Allen & Gledhill LLP. We note these numbers are sourced from public online forums, and thus, may at times be inaccurate and will require constant revision:
- Traineeship: Currently, trainees receive a monthly remuneration of $2,000 during their six-month traineeship period. Notably, the traineeship duration is expected to extend to one year, accompanied by an expected salary increase of $2,500 per month. It is important to note that, according to sources, the trainee pay has remained at $2,000 since around 2006 across the Big 4 Law Firms.
- Legal Executive: During the short period before lawyers are called to the Bar, typically lasting 1 month, the remuneration for Legal Executives at Allen & Gledhill LLP is said to be $3,000 per month. This amount is said to be pro-rated for the time away from work during Call Break.
- NQ (Newly Qualified): The next level of monthly salary is said to be $7,000 ($5,600 base + $1,400 frontloaded bonus (see below)). However, this is said to start at the beginning of August, which is a few weeks before actually being called to the Bar.
- 1PQE: In the subsequent year, the compensation rises to a supposed $7,500 per month for 1PQEs.
- Subsequent years: Salary progression details following the first year are not publicly available. However, as per industry standards, it may be expected that salary continues to experience an incremental increase of approximately $1,000 per month each year.
Front-Loaded Bonus
It is important to note that the salaries mentioned above include frontloaded bonuses, where a portion of the final year bonus is factored into the monthly remuneration.
Consequently, if, for instance, your final year bonus amounts to $30,000, you may only receive $6,000 during the bonus period, as it is deemed that you have already received the remaining bonus through your monthly salaries.
This arrangement ensures that if you choose to leave the law firm before the bonus period, you will not be deprived of a lump sum. However, it also means that your actual salary is only 60-80% of the specified total compensation. Thus, when considering the hours worked and the significant opportunity cost incurred by lawyers, it can be challenging to ascertain whether this salary is truly competitive compared to other industries.
Nature of Work
As with all law firms, various factors such as the assigned team/partner and the nature of work/clients will heavily influence the work-life balance experienced and the fulfilment derived from everyday work. Undeniably, the pace of work is fast, and hours may frequently be long.
At Allen & Gledhill LLP, you will be part of a team entrusted with handling some of Singapore's most significant legal matters. Collaborating with accomplished partners and colleagues, you will navigate a fast-paced environment that presents both challenges and rewards. Expectations will be high, and the work demanding, but the potential for career advancement and the opportunity to contribute to meaningful legal work make Allen & Gledhill LLP an attractive employer.
Conclusion
Allen & Gledhill LLP emerges as an appealing choice for fresh graduates and young lawyers seeking to advance their legal careers in Singapore. With competitive salaries (though subject to interpretation) and the opportunity to work on high-profile cases, Allen & Gledhill LLP positions itself as a desirable employer amongst fresh graduates and experienced lawyers alike.
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